John Mazarakis Purchases 7,530 Shares of Chicago Atlantic Real Estate Finance (NASDAQ:REFI) Stock

Key Points

• Chairman John Mazarakis bought 7,530 REFI shares at $10.67 each for approximately $80,345, increasing his holdings to 526,562 shares. This follows several additional purchases in August.
• Chicago Atlantic Real Estate Finance shares traded near $10.70, well below their 12-month high of $14.57. The company recently missed quarterly earnings and revenue estimates.
• REFI maintains a quarterly dividend of $0.47, equivalent to an annualized yield of approximately 17.6%, while analysts give the stock a consensus “Hold” rating and a $15.33 price target.

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI - Get Free Report) Chairman John Mazarakis acquired 7,530 shares of the business's stock in a transaction that occurred on Thursday, August 27th. The shares were bought at an average price of $10.67 per share, for a total transaction of $80,345.10. Following the completion of the purchase, the chairman owned 526,562 shares of the company's stock, valued at approximately $5,618,416.54. This represents a 1.45% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

John Mazarakis also recently made the following trade(s):

• On Wednesday, August 26th, John Mazarakis acquired 40,181 shares of Chicago Atlantic Real Estate Finance stock. The stock was bought at an average cost of $10.67 per share, with a total value of $428,731.27.
• On Friday, August 21st, John Mazarakis bought 145 shares of Chicago Atlantic Real Estate Finance stock. The stock was bought at an average price of $10.67 per share, with a total value of $1,547.15.
• On Monday, August 17th, John Mazarakis bought 25,000 shares of Chicago Atlantic Real Estate Finance stock. The shares were bought at an average cost of $10.25 per share, for a total transaction of $256,250.00.

Chicago Atlantic Real Estate Finance Stock Performance

Shares of REFI stock traded up $0.03 during midday trading on Friday, reaching $10.70. 129,789 shares of the company were exchanged, compared to its average volume of 158,633. The company's 50 day moving average price is $10.52 and its two-hundred day moving average price is $11.31. The company has a market cap of $274.14 million, a P/E ratio of 7.81 and a beta of 0.24. Chicago Atlantic Real Estate Finance, Inc. has a 12 month low of $9.69 and a 12 month high of $14.57.

Chicago Atlantic Real Estate Finance (NASDAQ:REFI - Get Free Report) last posted its quarterly earnings data on Tuesday, August 11th. The company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.05). Chicago Atlantic Real Estate Finance had a net margin of 54.57% and a return on equity of 11.53%. The company had revenue of $12.61 million during the quarter, compared to the consensus estimate of $14.17 million. As a group, sell-side analysts predict that Chicago Atlantic Real Estate Finance, Inc. will post 1.72 earnings per share for the current year.

Chicago Atlantic Real Estate Finance Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 17.6%. The ex-dividend date was Tuesday, June 30th. Chicago Atlantic Real Estate Finance's dividend payout ratio is 137.23%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Citizens Jmp lowered their price target on Chicago Atlantic Real Estate Finance from $18.00 to $16.00 and set a "market outperform" rating on the stock in a research report on Wednesday, August 12th. Weiss Ratings upgraded Chicago Atlantic Real Estate Finance from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday, August 11th. Zacks Research cut Chicago Atlantic Real Estate Finance from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 4th. Atlantic Securities set a $16.00 target price on Chicago Atlantic Real Estate Finance in a report on Wednesday, August 12th. Finally, Citigroup reiterated a "market outperform" rating on shares of Chicago Atlantic Real Estate Finance in a research report on Wednesday, August 12th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $15.33.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. California State Teachers Retirement System increased its holdings in shares of Chicago Atlantic Real Estate Finance by 178.4% in the second quarter. California State Teachers Retirement System now owns 2,734 shares of the company's stock valued at $29,000 after buying an additional 1,752 shares in the last quarter. Strs Ohio bought a new stake in shares of Chicago Atlantic Real Estate Finance during the 1st quarter worth $47,000. Russell Investments Group Ltd. grew its holdings in shares of Chicago Atlantic Real Estate Finance by 29.2% in the 2nd quarter. Russell Investments Group Ltd. now owns 3,552 shares of the company's stock worth $50,000 after acquiring an additional 803 shares during the last quarter. Garton & Associates Financial Advisors LLC acquired a new position in shares of Chicago Atlantic Real Estate Finance in the 4th quarter worth $53,000. Finally, PNC Financial Services Group Inc. raised its position in shares of Chicago Atlantic Real Estate Finance by 290.3% during the first quarter. PNC Financial Services Group Inc. now owns 6,183 shares of the company's stock worth $70,000 after purchasing an additional 4,599 shares during the period. Institutional investors and hedge funds own 25.48% of the company's stock.

Chicago Atlantic Real Estate Finance Company Profile

Chicago Atlantic Real Estate Finance, Inc NASDAQ: REFI is a publicly listed real estate finance company that specializes in originating and acquiring commercial real estate debt. Pursuant to its election to be treated as a real estate investment trust (REIT), REFI’s investment strategy focuses on floating-rate senior mortgage loans secured by income-producing properties across the United States. The company targets stabilized, performing assets in sectors such as multifamily, office, retail and industrial, aiming to generate attractive risk-adjusted returns through current income.

Established in 2015 and headquartered in Chicago, Illinois, REFI completed its initial public offering in 2019.

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