Insider Buying: Chicago Atlantic Real Estate Finance (NASDAQ:REFI) Chairman Buys 7,530 Shares of Stock

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) Chairman John Mazarakis acquired 7,530 shares of the business’s stock in a transaction on Thursday, August 27th. The shares were bought at an average price of $10.67 per share, for a total transaction of $80,345.10. Following the acquisition, the chairman owned 526,562 shares in the company, valued at approximately $5,618,416.54. This trade represents a 1.45% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

John Mazarakis also recently made the following trade(s):

• On Wednesday, August 26th, John Mazarakis bought 40,181 shares of Chicago Atlantic Real Estate Finance stock. The stock was purchased at an average price of $10.67 per share, with a total value of $428,731.27.
• On Friday, August 21st, John Mazarakis bought 145 shares of Chicago Atlantic Real Estate Finance stock. The stock was purchased at an average price of $10.67 per share, with a total value of $1,547.15.
• On Monday, August 17th, John Mazarakis bought 25,000 shares of Chicago Atlantic Real Estate Finance stock. The stock was purchased at an average cost of $10.25 per share, for a total transaction of $256,250.00.

Chicago Atlantic Real Estate Finance Stock Up 0.3%

Shares of REFI stock traded up $0.03 during trading hours on Friday, reaching $10.70. 129,789 shares of the stock traded hands, compared to its average volume of 158,633. Chicago Atlantic Real Estate Finance, Inc. has a 1-year low of $9.69 and a 1-year high of $14.57. The business has a fifty day moving average price of $10.52 and a 200 day moving average price of $11.31. The firm has a market capitalization of $274.14 million, a PE ratio of 7.81 and a beta of 0.24.

Chicago Atlantic Real Estate Finance (NASDAQ:REFI) last posted its quarterly earnings data on Tuesday, August 11th. The company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.05). Chicago Atlantic Real Estate Finance had a return on equity of 11.53% and a net margin of 54.57%.The firm had revenue of $12.61 million during the quarter, compared to analyst estimates of $14.17 million. Research 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 announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders 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 dividend on an annualized basis and a dividend yield of 17.6%. Chicago Atlantic Real Estate Finance’s dividend payout ratio is presently 137.23%.

Wall Street Analyst Weigh In

REFI has been the subject of several recent analyst reports. Citizens Jmp decreased their target price on Chicago Atlantic Real Estate Finance from $18.00 to $16.00 and set a “market outperform” rating for the company in a research report on Wednesday, August 12th. Atlantic Securities set a $16.00 price target on Chicago Atlantic Real Estate Finance in a research report on Wednesday, August 12th. Zacks Research cut Chicago Atlantic Real Estate Finance from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. 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. Finally, Citigroup reiterated a “market outperform” rating on shares of Chicago Atlantic Real Estate Finance in a report on Wednesday, August 12th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $15.33.

Institutional Investors Weigh In On Chicago Atlantic Real Estate Finance

A number of hedge funds have recently bought and sold shares of the company. California State Teachers Retirement System boosted its stake in Chicago Atlantic Real Estate Finance by 178.4% during the 2nd quarter. California State Teachers Retirement System now owns 2,734 shares of the company’s stock valued at $29,000 after purchasing an additional 1,752 shares during the period. Strs Ohio bought a new stake in Chicago Atlantic Real Estate Finance in the 1st quarter valued at $47,000. Russell Investments Group Ltd. increased its stake in Chicago Atlantic Real Estate Finance by 29.2% in the second quarter. Russell Investments Group Ltd. now owns 3,552 shares of the company’s stock valued at $50,000 after acquiring an additional 803 shares during the period. Garton & Associates Financial Advisors LLC bought a new stake in Chicago Atlantic Real Estate Finance in the fourth quarter valued at about $53,000. Finally, PNC Financial Services Group Inc. raised its position in Chicago Atlantic Real Estate Finance by 290.3% in the first quarter. PNC Financial Services Group Inc. now owns 6,183 shares of the company’s stock worth $70,000 after purchasing an additional 4,599 shares in the last quarter. 25.48% of the stock is currently owned by institutional investors.

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.