Chicago Atlantic Real Estate Finance (NASDAQ:REFI) Shares Down 1% – Here’s Why

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) dropped 1% during trading on Friday . The stock traded as low as $11.34 and last traded at $11.37. Approximately 132,869 shares traded hands during trading, a decline of 8% from the average daily volume of 144,815 shares. The stock had previously closed at $11.48.

Analysts Set New Price Targets

REFI has been the subject of several analyst reports. Oppenheimer downgraded Chicago Atlantic Real Estate Finance from an “outperform” rating to a “market perform” rating in a report on Monday, March 16th. Weiss Ratings raised Chicago Atlantic Real Estate Finance from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday. Finally, Zacks Research downgraded Chicago Atlantic Real Estate Finance from a “strong-buy” rating to a “hold” rating in a report on Friday, May 15th. Three analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $14.00.

Chicago Atlantic Real Estate Finance Trading Down 1.0%

The stock has a market capitalization of $241.12 million, a price-to-earnings ratio of 7.90 and a beta of 0.25. The stock has a 50-day simple moving average of $11.67 and a 200 day simple moving average of $12.17.

Chicago Atlantic Real Estate Finance (NASDAQ:REFI) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $13.12 million for the quarter, compared to analyst estimates of $13.69 million. Sell-side analysts expect 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 firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were given a dividend of $0.47 per share. The ex-dividend date was Tuesday, March 31st. This represents a $1.88 dividend on an annualized basis and a yield of 16.5%. Chicago Atlantic Real Estate Finance’s dividend payout ratio (DPR) is presently 130.56%.

Institutional Investors Weigh In On Chicago Atlantic Real Estate Finance

Institutional investors have recently bought and sold shares of the business. Strs Ohio acquired a new stake in Chicago Atlantic Real Estate Finance during the 1st quarter worth about $47,000. Russell Investments Group Ltd. boosted its position in Chicago Atlantic Real Estate Finance by 29.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 3,552 shares of the company’s stock worth $50,000 after acquiring an additional 803 shares during the period. Garton & Associates Financial Advisors LLC acquired a new stake in Chicago Atlantic Real Estate Finance during the 4th quarter worth about $53,000. PNC Financial Services Group Inc. boosted its position in Chicago Atlantic Real Estate Finance by 290.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,183 shares of the company’s stock worth $70,000 after acquiring an additional 4,599 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its position in Chicago Atlantic Real Estate Finance by 3,041.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,722 shares of the company’s stock worth $94,000 after acquiring an additional 6,508 shares during the period. 25.48% of the stock is currently owned by institutional investors and hedge funds.

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.