Chicago Atlantic Real Estate Finance (NASDAQ:REFI) Downgraded by Oppenheimer to “Market Perform”

Chicago Atlantic Real Estate Finance (NASDAQ:REFI) was downgraded by equities research analysts at Oppenheimer from an “outperform” rating to a “market perform” rating in a note issued to investors on Monday.

Separately, Zacks Research raised Chicago Atlantic Real Estate Finance from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. Three investment analysts have rated the stock with a Hold rating, According to MarketBeat, Chicago Atlantic Real Estate Finance currently has a consensus rating of “Hold” and an average target price of $14.00.

Chicago Atlantic Real Estate Finance Price Performance

Shares of NASDAQ REFI traded up $0.22 during mid-day trading on Monday, hitting $12.31. The company had a trading volume of 144,833 shares, compared to its average volume of 126,043. Chicago Atlantic Real Estate Finance has a 1-year low of $11.62 and a 1-year high of $15.67. The company has a market capitalization of $259.45 million, a PE ratio of 7.31 and a beta of 0.22. The business’s 50-day simple moving average is $12.22 and its 200 day simple moving average is $12.72.

Chicago Atlantic Real Estate Finance (NASDAQ:REFI) last posted its earnings results on Thursday, March 12th. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.42 by $0.01. Chicago Atlantic Real Estate Finance had a return on equity of 11.94% and a net margin of 65.01%.The firm had revenue of $14.24 million for the quarter, compared to analyst estimates of $14.20 million. On average, analysts expect that Chicago Atlantic Real Estate Finance will post 1.9 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Clayton Partners LLC bought a new position in Chicago Atlantic Real Estate Finance during the 3rd quarter valued at $1,765,000. Jane Street Group LLC acquired a new stake in shares of Chicago Atlantic Real Estate Finance during the 4th quarter valued at $747,000. Fielder Capital Group LLC grew its position in Chicago Atlantic Real Estate Finance by 4.9% during the 3rd quarter. Fielder Capital Group LLC now owns 809,425 shares of the company’s stock worth $10,353,000 after purchasing an additional 37,922 shares in the last quarter. Rothschild Wealth LLC purchased a new stake in Chicago Atlantic Real Estate Finance in the 4th quarter worth approximately $447,000. Finally, Millennium Management LLC grew its position in Chicago Atlantic Real Estate Finance by 16.9% in the third quarter. Millennium Management LLC now owns 184,697 shares of the company’s stock worth $2,362,000 after acquiring an additional 26,751 shares in the last quarter. 25.48% of the stock is currently owned by hedge funds and other 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.