Insider Buying: Chicago Atlantic Real Estate Finance (NASDAQ:REFI) CEO Acquires $15,645.00 in Stock

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) CEO Peter Sack bought 1,500 shares of the company’s stock in a transaction dated Tuesday, August 18th. The shares were purchased at an average price of $10.43 per share, with a total value of $15,645.00. Following the completion of the acquisition, the chief executive officer owned 119,856 shares of the company’s stock, valued at $1,250,098.08. This trade represents a 1.27% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Peter Sack also recently made the following trade(s):

• On Wednesday, August 19th, Peter Sack bought 3,500 shares of Chicago Atlantic Real Estate Finance stock. The stock was acquired at an average cost of $10.45 per share, for a total transaction of $36,575.00.

Chicago Atlantic Real Estate Finance Price Performance

Shares of NASDAQ:REFI opened at $10.78 on Monday. The stock’s 50-day moving average is $10.55 and its 200 day moving average is $11.35. The company has a market cap of $276.18 million, a PE ratio of 7.87 and a beta of 0.24. Chicago Atlantic Real Estate Finance, Inc. has a 1 year low of $9.69 and a 1 year high of $14.57.

Chicago Atlantic Real Estate Finance (NASDAQ:REFI) last released its quarterly earnings data on Tuesday, August 11th. The company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.05). The business had revenue of $12.61 million during the quarter, compared to analysts’ expectations of $14.17 million. Chicago Atlantic Real Estate Finance had a return on equity of 11.53% and a net margin of 54.57%. Analysts expect that Chicago Atlantic Real Estate Finance, Inc. will post 1.72 EPS for the current fiscal year.

Chicago Atlantic Real Estate Finance Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a $0.47 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $1.88 annualized dividend and a yield of 17.4%. Chicago Atlantic Real Estate Finance’s payout ratio is 137.23%.

Hedge Funds Weigh In On Chicago Atlantic Real Estate Finance

A number of hedge funds have recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of Chicago Atlantic Real Estate Finance during the second quarter valued at approximately $18,428,000. Fielder Capital Group LLC purchased a new position in Chicago Atlantic Real Estate Finance in the 2nd quarter worth approximately $10,530,000. Corient Private Wealth LP purchased a new position in Chicago Atlantic Real Estate Finance in the 2nd quarter worth approximately $1,637,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in Chicago Atlantic Real Estate Finance in the 2nd quarter valued at approximately $1,220,000. Finally, Clayton Partners LLC boosted its stake 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. Institutional investors own 25.48% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on REFI. Zacks Research cut Chicago Atlantic Real Estate Finance from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Citizens Jmp reduced 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 note on Wednesday, August 12th. Citigroup reiterated a “market outperform” rating on shares of Chicago Atlantic Real Estate Finance in a report on Wednesday, August 12th. Atlantic Securities set a $16.00 target price on shares of Chicago Atlantic Real Estate Finance in a report on Wednesday, August 12th. Finally, Weiss Ratings upgraded shares of Chicago Atlantic Real Estate Finance from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, August 11th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $15.33.

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.