John Mazarakis Buys 25,000 Shares of Chicago Atlantic Real Estate Finance (NASDAQ:REFI) Stock

Key Points

• Chairman John Mazarakis bought 25,000 REFI shares at $10.25 each, investing $256,250 and increasing his holdings by 5.51% to 478,706 shares.
• Chicago Atlantic Real Estate Finance reported quarterly EPS of $0.43 and revenue of $12.61 million, both below analyst expectations. The stock recently traded at $10.59, within its 52-week range of $9.69 to $14.57.
• The company pays a quarterly dividend of $0.47, or $1.88 annualized, representing a 17.8% yield; analysts’ average rating is “Hold” with a $15.33 target price.

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI - Get Free Report) Chairman John Mazarakis acquired 25,000 shares of the business's stock in a transaction on Monday, August 17th. The stock was acquired at an average price of $10.25 per share, with a total value of $256,250.00. Following the transaction, the chairman owned 478,706 shares in the company, valued at approximately $4,906,736.50. The trade was a 5.51% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Chicago Atlantic Real Estate Finance Price Performance

Shares of REFI stock traded up $0.22 during trading hours on Wednesday, hitting $10.59. 139,052 shares of the company's stock were exchanged, compared to its average volume of 158,505. The stock's 50-day moving average is $10.59 and its 200-day moving average is $11.39. The stock has a market cap of $271.32 million, a price-to-earnings ratio of 7.73 and a beta of 0.24. Chicago Atlantic Real Estate Finance, Inc. has a 52 week low of $9.69 and a 52 week high of $14.57.

Chicago Atlantic Real Estate Finance (NASDAQ:REFI - Get Free Report) last released its quarterly earnings results on Tuesday, August 11th. The company reported $0.43 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 business had revenue of $12.61 million during the quarter, compared to the consensus estimate of $14.17 million. Equities research analysts forecast that Chicago Atlantic Real Estate Finance, Inc. will post 1.72 earnings per share for the current fiscal year.

Chicago Atlantic Real Estate Finance Dividend Announcement

The business also recently disclosed 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 annualized dividend and a yield of 17.8%. The ex-dividend date was Tuesday, June 30th. Chicago Atlantic Real Estate Finance's dividend payout ratio (DPR) is presently 137.23%.

Institutional Investors Weigh In On Chicago Atlantic Real Estate Finance

Institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. acquired a new position in Chicago Atlantic Real Estate Finance in the second quarter valued at approximately $18,428,000. Fielder Capital Group LLC acquired a new stake in Chicago Atlantic Real Estate Finance during the 2nd quarter worth $10,530,000. Corient Private Wealth LP bought a new stake in shares of Chicago Atlantic Real Estate Finance during the 2nd quarter valued at $1,637,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Chicago Atlantic Real Estate Finance in the 2nd quarter valued at $1,220,000. Finally, Clayton Partners LLC boosted its position in shares of Chicago Atlantic Real Estate Finance by 52.9% in the 4th quarter. Clayton Partners LLC now owns 211,000 shares of the company's stock worth $2,587,000 after purchasing an additional 73,037 shares during the last quarter. 25.48% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Citizens Jmp decreased their price target on shares of Chicago Atlantic Real Estate Finance from $18.00 to $16.00 and set a "market outperform" rating on the stock in a research note on Wednesday, August 12th. Citigroup restated a "market outperform" rating on shares of Chicago Atlantic Real Estate Finance 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 research report on Tuesday, August 11th. Zacks Research downgraded Chicago Atlantic Real Estate Finance from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 4th. Finally, Atlantic Securities set a $16.00 price target on Chicago Atlantic Real Estate Finance in a research note on Wednesday, August 12th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $15.33.

About Chicago Atlantic Real Estate Finance

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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