Chicago Atlantic Real Estate Finance (NASDAQ:REFI) Cut to Market Perform at Oppenheimer

Oppenheimer downgraded shares of Chicago Atlantic Real Estate Finance (NASDAQ:REFI) from an outperform rating to a market perform rating in a research report released on Monday morning, MarketBeat.com reports.

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

Chicago Atlantic Real Estate Finance Price Performance

Shares of NASDAQ REFI opened at $12.38 on Monday. The business has a fifty day moving average price of $12.23 and a two-hundred day moving average price of $12.69. The stock has a market capitalization of $260.97 million, a PE ratio of 7.37 and a beta of 0.22. Chicago Atlantic Real Estate Finance has a fifty-two week low of $11.62 and a fifty-two week high of $15.65.

Chicago Atlantic Real Estate Finance (NASDAQ:REFI) last released its earnings results on Thursday, March 12th. The company reported $0.43 earnings per share (EPS) for the quarter, topping 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 company had revenue of $14.24 million for the quarter, compared to analyst estimates of $14.20 million. On average, equities analysts expect that Chicago Atlantic Real Estate Finance will post 1.9 EPS for the current year.

Chicago Atlantic Real Estate Finance Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 15.2%. The ex-dividend date of this dividend is Tuesday, March 31st. Chicago Atlantic Real Estate Finance’s dividend payout ratio (DPR) is currently 111.90%.

Hedge Funds Weigh In On Chicago Atlantic Real Estate Finance

Several hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its position in shares of Chicago Atlantic Real Estate Finance by 2.1% during the 3rd quarter. Vanguard Group Inc. now owns 940,997 shares of the company’s stock worth $12,035,000 after buying an additional 19,227 shares during the last quarter. Fielder Capital Group LLC boosted its stake in Chicago Atlantic Real Estate Finance by 2.8% in the fourth quarter. Fielder Capital Group LLC now owns 832,168 shares of the company’s stock valued at $10,202,000 after buying an additional 22,743 shares in the last quarter. Clayton Partners LLC grew its position in Chicago Atlantic Real Estate Finance by 52.9% in the fourth quarter. Clayton Partners LLC now owns 211,000 shares of the company’s stock valued at $2,587,000 after acquiring an additional 73,037 shares during the last quarter. Van ECK Associates Corp grew its position in Chicago Atlantic Real Estate Finance by 5.0% in the third quarter. Van ECK Associates Corp now owns 198,812 shares of the company’s stock valued at $2,543,000 after acquiring an additional 9,426 shares during the last quarter. Finally, Millennium Management LLC raised its stake in Chicago Atlantic Real Estate Finance by 16.9% during 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. Institutional investors own 25.48% of the company’s stock.

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.