Chicago Atlantic Real Estate Finance (NASDAQ:REFI) Trading Down 2.2% – Here’s Why

Shares of Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) traded down 2.2% during mid-day trading on Wednesday . The stock traded as low as $9.85 and last traded at $9.87. 146,986 shares traded hands during trading, an increase of 2% from the average session volume of 144,249 shares. The stock had previously closed at $10.09.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on REFI shares. Weiss Ratings cut shares of Chicago Atlantic Real Estate Finance from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, June 16th. Zacks Research upgraded Chicago Atlantic Real Estate Finance from a “hold” rating to a “strong-buy” rating in a report on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Chicago Atlantic Real Estate Finance presently has a consensus rating of “Hold” and an average target price of $14.00.

Chicago Atlantic Real Estate Finance Stock Down 0.6%

The business’s 50 day simple moving average is $10.90 and its 200 day simple moving average is $11.60. The stock has a market cap of $206.98 million, a price-to-earnings ratio of 6.78 and a beta of 0.23.

Chicago Atlantic Real Estate Finance (NASDAQ:REFI) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.02). Chicago Atlantic Real Estate Finance had a return on equity of 11.98% and a net margin of 55.54%.The firm had revenue of $12.92 million for the quarter, compared to analyst estimates of $13.69 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 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 19.3%. The ex-dividend date of this dividend was Tuesday, June 30th. Chicago Atlantic Real Estate Finance’s payout ratio is 130.56%.

Institutional Trading of Chicago Atlantic Real Estate Finance

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of Chicago Atlantic Real Estate Finance by 2.1% during the 3rd quarter. Vanguard Group Inc. now owns 940,997 shares of the company’s stock worth $12,035,000 after acquiring an additional 19,227 shares during the period. Fielder Capital Group LLC raised its stake in Chicago Atlantic Real Estate Finance by 2.8% in the 4th quarter. Fielder Capital Group LLC now owns 832,168 shares of the company’s stock valued at $10,202,000 after acquiring an additional 22,743 shares during the period. Clayton Partners LLC lifted its holdings in Chicago Atlantic Real Estate Finance by 52.9% during the 4th quarter. Clayton Partners LLC now owns 211,000 shares of the company’s stock valued at $2,587,000 after purchasing an additional 73,037 shares during the last quarter. Van ECK Associates Corp boosted its position in Chicago Atlantic Real Estate Finance by 5.0% during the third quarter. Van ECK Associates Corp now owns 198,812 shares of the company’s stock worth $2,543,000 after purchasing an additional 9,426 shares during the period. Finally, Millennium Management LLC boosted its position in Chicago Atlantic Real Estate Finance by 16.9% during the third quarter. Millennium Management LLC now owns 184,697 shares of the company’s stock worth $2,362,000 after purchasing an additional 26,751 shares during the period. 25.48% of the stock is owned by institutional investors and hedge funds.

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.