Chicago Atlantic Real Estate Finance, Inc. $REFI Shares Sold by Ascent Group LLC

Ascent Group LLC lessened its stake in Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) by 19.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,116 shares of the company’s stock after selling 2,471 shares during the quarter. Ascent Group LLC’s holdings in Chicago Atlantic Real Estate Finance were worth $141,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Fielder Capital Group LLC lifted its holdings in shares of Chicago Atlantic Real Estate Finance by 11.5% during the 1st quarter. Fielder Capital Group LLC now owns 751,620 shares of the company’s stock valued at $11,049,000 after acquiring an additional 77,334 shares in the last quarter. Sage Mountain Advisors LLC lifted its holdings in shares of Chicago Atlantic Real Estate Finance by 26.4% during the 1st quarter. Sage Mountain Advisors LLC now owns 155,408 shares of the company’s stock valued at $2,284,000 after acquiring an additional 32,476 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Chicago Atlantic Real Estate Finance by 88.1% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 114,198 shares of the company’s stock valued at $1,679,000 after acquiring an additional 53,498 shares in the last quarter. HighTower Advisors LLC lifted its holdings in shares of Chicago Atlantic Real Estate Finance by 4.3% during the 1st quarter. HighTower Advisors LLC now owns 81,929 shares of the company’s stock valued at $1,204,000 after acquiring an additional 3,363 shares in the last quarter. Finally, Doliver Advisors LP lifted its holdings in shares of Chicago Atlantic Real Estate Finance by 74.5% during the 2nd quarter. Doliver Advisors LP now owns 80,588 shares of the company’s stock valued at $1,125,000 after acquiring an additional 34,400 shares in the last quarter. Institutional investors and hedge funds own 25.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on REFI shares. Zacks Research lowered shares of Chicago Atlantic Real Estate Finance from a “hold” rating to a “strong sell” rating in a report on Thursday, August 21st. Weiss Ratings restated a “hold (c-)” rating on shares of Chicago Atlantic Real Estate Finance in a report on Wednesday. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $20.00.

Chicago Atlantic Real Estate Finance Stock Performance

Shares of Chicago Atlantic Real Estate Finance stock opened at $12.64 on Thursday. The firm has a market cap of $266.39 million, a PE ratio of 6.91 and a beta of 0.21. The firm’s 50-day simple moving average is $13.59 and its 200-day simple moving average is $14.03. Chicago Atlantic Real Estate Finance, Inc. has a 1 year low of $12.33 and a 1 year high of $16.29.

Chicago Atlantic Real Estate Finance Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 14.9%. The ex-dividend date is Tuesday, September 30th. Chicago Atlantic Real Estate Finance’s dividend payout ratio is 102.73%.

Insider Activity

In related news, Chairman John Mazarakis bought 7,500 shares of the business’s stock in a transaction dated Wednesday, October 1st. The shares were acquired at an average price of $12.43 per share, for a total transaction of $93,225.00. Following the purchase, the chairman owned 408,607 shares in the company, valued at $5,078,985.01. This trade represents a 1.87% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 8.30% of the company’s stock.

Chicago Atlantic Real Estate Finance Company Profile

Chicago Atlantic Real Estate Finance, Inc operates as a commercial real estate finance company in the United States. The company engages in originating, structuring, and investing in first mortgage loans and alternative structured financings secured by commercial real estate properties. Its portfolio primarily includes offers senior loans to state-licensed operators in the cannabis industry.