Chicago Atlantic Real Estate Finance (REFI) Stock Price, News & Analysis

Company Overview

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. The company maintains a diversified portfolio of first mortgage and other senior real estate loans, typically structured with floating-rate coupons and incorporating robust credit underwriting. In addition to direct lending, REFI may invest in preferred equity and subordinated debt positions when consistent with its risk-return objectives.

REFI is externally managed and advised by Chicago Atlantic Real Estate LLC, a real estate finance firm led by CEO Stephen S. Knight and a management team with deep experience in commercial mortgage markets. This alignment of interests seeks to blend specialized origination capabilities with prudent credit risk management, supported by a network of institutional relationships and regional operating partners.

Through disciplined investment processes and geographic diversification, Chicago Atlantic Real Estate Finance aims to provide shareholders with stable dividend streams and potential for capital appreciation, while financing middle-market real estate borrowers across key U.S. markets.

Key Stats

• Today's Range: $12.40 to $12.78
• 50-Day Range: $12.13 to $14.42
• 52-Week Range: $12.00 to $16.29
• Volume: 148,038 shs
• Average Volume: 167,414 shs
• Market Capitalization: $262.45 million
• P/E Ratio: 6.80
• Dividend Yield: 15.10%
• Price Target: $20.00
• Consensus Rating: Moderate Buy

Chicago Atlantic Real Estate Finance Stock Analysis - MarketRank™

Chicago Atlantic Real Estate Finance scored higher than 79% of companies evaluated by MarketBeat, and ranked 250th out of 945 stocks in the finance sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 3.7 / 5
• Analyst Rating: Moderate Buy

Consensus Rating

Chicago Atlantic Real Estate Finance has received a consensus rating of Moderate Buy. The company's average rating score is 2.50, and is based on 2 buy ratings, 2 hold ratings, and no sell ratings.

Upside Potential

Chicago Atlantic Real Estate Finance has a consensus price target of $20.00, representing about 60.6% upside from its current price of $12.45.

Amount of Analyst Coverage

Chicago Atlantic Real Estate Finance has only been the subject of 2 research reports in the past 90 days.

Earnings and Valuation

• Score: 2.5 / 5
• Proj. Earnings Growth: 2.11%

Earnings Growth

Earnings for Chicago Atlantic Real Estate Finance are expected to grow by 2.11% in the coming year, from $1.90 to $1.94 per share.

Price to Earnings Ratio vs. the Market

The P/E ratio of Chicago Atlantic Real Estate Finance is 6.80, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 233.47.

Price to Earnings Ratio vs. Sector

The P/E ratio of Chicago Atlantic Real Estate Finance is 6.80, which means that it is trading at a less expensive P/E ratio than the Finance sector average P/E ratio of about 32.68.

Price to Book Value per Share Ratio

Chicago Atlantic Real Estate Finance has a P/B Ratio of 0.79. P/B Ratios below 1 indicate that a company could be undervalued with respect to its assets and liabilities.

Short Interest

• Score: 2.0 / 5
• Short Interest Level: Bearish

Percentage of Shares Shorted

4.04% of the float of Chicago Atlantic Real Estate Finance has been sold short.

Short Interest Ratio / Days to Cover

Chicago Atlantic Real Estate Finance has a short interest ratio ("days to cover") of 5.6.

Change versus previous month

Short interest in Chicago Atlantic Real Estate Finance has recently increased by 80.82%, indicating that investor sentiment is decreasing significantly.

Dividend

• Score: 1.7 / 5
• Dividend Strength: Weak

Dividend Leadership

Chicago Atlantic Real Estate Finance is a leading dividend payer. It pays a dividend yield of 14.79%, putting its dividend yield in the top 25% of dividend-paying stocks.

Dividend Growth

Chicago Atlantic Real Estate Finance has only been increasing its dividend for 1 years.

Dividend Coverage

The dividend payout ratio of Chicago Atlantic Real Estate Finance is 102.73%. Payout ratios above 75% are not desirable because they may not be sustainable.

Dividend Sustainability

Based on EPS estimates, Chicago Atlantic Real Estate Finance will have a dividend payout ratio of 96.91% in the coming year. This indicates that Chicago Atlantic Real Estate Finance may not be able to sustain their current dividend.

Sustainability and ESG

• Score: N/A
• Environmental Score: N/A

Percentage of Shares Shorted

4.04% of the float of Chicago Atlantic Real Estate Finance has been sold short.

Short Interest Ratio / Days to Cover

Chicago Atlantic Real Estate Finance has a short interest ratio ("days to cover") of 5.6.

Change versus previous month

Short interest in Chicago Atlantic Real Estate Finance has recently increased by 80.82%, indicating that investor sentiment is decreasing significantly.

News and Social Media

• Score: 4.2 / 5
• News Sentiment: 1.49

News Sentiment

Chicago Atlantic Real Estate Finance has a news sentiment score of 1.49. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a higher news sentiment than the 0.70 average news sentiment score of Finance companies.

News Coverage This Week

MarketBeat has tracked 10 news articles for Chicago Atlantic Real Estate Finance this week, compared to 2 articles on an average week.

Search Interest

8 people have searched for REFI on MarketBeat in the last 30 days. This is an increase of 167% compared to the previous 30 days.

MarketBeat Follows

5 people have added Chicago Atlantic Real Estate Finance to their MarketBeat watchlist in the last 30 days.

Company Ownership

• Score: 1.7 / 5
• Insider Trading: Acquiring Shares

Insider Buying vs. Insider Selling

In the past three months, Chicago Atlantic Real Estate Finance insiders have bought more of their company's stock than they have sold. Specifically, they have bought $641,414.00 in company stock and sold $0.00 in company stock.

Percentage Held by Insiders

Only 8.30% of the stock of Chicago Atlantic Real Estate Finance is held by insiders.

Percentage Held by Institutions

Only 25.48% of the stock of Chicago Atlantic Real Estate Finance is held by institutions.

REFI Stock Analysis - Frequently Asked Questions

How have REFI shares performed this year?

Chicago Atlantic Real Estate Finance's stock was trading at $15.42 at the start of the year. Since then, REFI shares have decreased by 19.3% and is now trading at $12.45.

How were Chicago Atlantic Real Estate Finance's earnings last quarter?

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) issued its quarterly earnings data on Thursday, November, 7th. The company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.01. The company had revenue of $14.46 million for the quarter, compared to analyst estimates of $14.84 million. Chicago Atlantic Real Estate Finance had a net margin of 67.95% and a trailing twelve-month return on equity of 12.32%.
Read the conference call transcript.

When did Chicago Atlantic Real Estate Finance IPO?

Chicago Atlantic Real Estate Finance (REFI) raised $106 million in an initial public offering on Wednesday, December 8th 2021. The company issued 6,250,000 shares at $16.00-$18.00 per share.

Who are Chicago Atlantic Real Estate Finance's major shareholders?

Top institutional investors of Chicago Atlantic Real Estate Finance include Doliver Advisors LP (0.49%) and CWM LLC (0.01%). Insiders that own company stock include John Mazarakis, Anthony Cappell, David Kite, Jason D Papastavrou, Phillip Silverman and Brandon Konigsberg.
View institutional ownership trends.

How do I buy shares of Chicago Atlantic Real Estate Finance?

Shares of REFI stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.

What other stocks do shareholders of Chicago Atlantic Real Estate Finance own?

Based on aggregate information from My MarketBeat watchlists, some other companies that Chicago Atlantic Real Estate Finance investors own include NVIDIA (NVDA), Tesla (TSLA), Meta Platforms (META), Advanced Micro Devices (AMD), Home Depot (HD), JPMorgan Chase & Co. (JPM) and Walmart (WMT).

Company Calendar

• Last Earnings: 11/07/2024
• Record date for 10/15 Dividend: 9/30/2025
• Ex-Dividend for 10/15 Dividend: 9/30/2025
• Dividend Payable: 10/15/2025
• Today: 10/17/2025
• Next Earnings (Estimated): 11/06/2025
• Fiscal Year End: 12/31/2025

Industry, Sector and Symbol

• Stock Exchange: NASDAQ
• Sector: Finance
• Industry: FIN - MISC SVCS
• Sub-Industry: Trading
• Current Symbol: NASDAQ:REFI
• CIK: 1867949
• Web: www.chicagoatlanticcredit.com
• Phone: 312-809-7002
• Fax: N/A
• Employees: N/A
• Year Founded: N/A

Price Target and Rating

• Average Price Target for Chicago Atlantic Real Estate Finance: $20.00
• High Price Target: $20.00
• Low Price Target: $20.00
• Potential Upside/Downside: +60.6%
• Consensus Rating: Moderate Buy
• Rating Score (0-4): 2.50
• Research Coverage: 4 Analysts

Profitability

• EPS (Trailing Twelve Months): $1.83
• Trailing P/E Ratio: 6.80
• Forward P/E Ratio: 6.55
• P/E Growth: N/A
• Net Income: $37.04 million
• Net Margins: 67.95%
• Pretax Margin: 67.95%
• Return on Equity: 12.32%
• Return on Assets: 9.03%

Debt

• Debt-to-Equity Ratio: N/A
• Current Ratio: N/A
• Quick Ratio: N/A

Sales & Book Value

• Annual Sales: $54.95 million
• Price / Sales: 4.78
• Cash Flow: $1.77 per share
• Price / Cash Flow: 7.03
• Book Value: $15.73 per share
• Price / Book: 0.79

Miscellaneous

• Outstanding Shares: 21,080,000
• Free Float: 19,326,000
• Market Cap: $262.45 million
• Optionable: Optionable
• Beta: 0.21