Insider Buying: Chicago Atlantic Real Estate Finance (NASDAQ:REFI) Chairman Buys 25,000 Shares

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) Chairman John Mazarakis bought 25,000 shares of the firm’s stock in a transaction dated Monday, August 17th. The shares were bought at an average price of $10.25 per share, with a total value of $256,250.00. Following the completion of the transaction, the chairman directly owned 478,706 shares in the company, valued at approximately $4,906,736.50. This trade represents a 5.51% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Chicago Atlantic Real Estate Finance Trading Up 2.1%

Shares of NASDAQ:REFI traded up $0.22 during mid-day trading on Wednesday, reaching $10.59. The stock had a trading volume of 139,052 shares, compared to its average volume of 158,505. The firm has a market cap of $271.32 million, a PE ratio of 7.73 and a beta of 0.24. The firm has a 50 day simple moving average of $10.59 and a two-hundred day simple moving average of $11.39. Chicago Atlantic Real Estate Finance, Inc. has a twelve month low of $9.69 and a twelve month high of $14.57.

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

Chicago Atlantic Real Estate Finance Dividend Announcement

The company also recently declared 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 of this dividend was Tuesday, June 30th. This represents a $1.88 annualized dividend and a dividend yield of 17.8%. Chicago Atlantic Real Estate Finance’s payout ratio is 137.23%.

Wall Street Analyst Weigh In

REFI has been the topic of several research analyst reports. Atlantic Securities set a $16.00 price objective on Chicago Atlantic Real Estate Finance in a research note on Wednesday, August 12th. Citigroup restated a “market outperform” rating on shares of Chicago Atlantic Real Estate Finance in a report on Wednesday, August 12th. Weiss Ratings raised Chicago Atlantic Real Estate Finance from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, August 11th. Citizens Jmp cut their price objective on Chicago Atlantic Real Estate Finance from $18.00 to $16.00 and set a “market outperform” rating on the stock in a report on Wednesday, August 12th. Finally, Zacks Research lowered Chicago Atlantic Real Estate Finance from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $15.33.

Institutional Investors Weigh In On Chicago Atlantic Real Estate Finance

Several institutional investors have recently added to or reduced their stakes in the stock. Empowered Funds LLC acquired a new position in Chicago Atlantic Real Estate Finance in the 2nd quarter worth $213,000. Corient Private Wealth LP acquired a new stake in shares of Chicago Atlantic Real Estate Finance in the 2nd quarter valued at about $1,637,000. Bank of America Corp DE bought a new stake in shares of Chicago Atlantic Real Estate Finance in the second quarter valued at about $151,000. Odyssean LLC acquired a new position in shares of Chicago Atlantic Real Estate Finance during the second quarter worth about $678,000. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Chicago Atlantic Real Estate Finance during the second quarter worth about $248,000. 25.48% of the stock is 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.