Chicago Atlantic Real Estate Finance (NASDAQ:REFI) Trading Down 1% – Here’s What Happened

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI)’s stock price was down 1% during mid-day trading on Friday . The company 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.

Analyst Ratings Changes

REFI has been the topic of a number of recent research reports. Oppenheimer lowered shares of Chicago Atlantic Real Estate Finance from an “outperform” rating to a “market perform” rating in a research note on Monday, March 16th. Zacks Research lowered shares of Chicago Atlantic Real Estate Finance from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 15th. Finally, 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 Thursday. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Chicago Atlantic Real Estate Finance presently has a consensus rating of “Hold” and a consensus target price of $14.00.

Chicago Atlantic Real Estate Finance Price Performance

The stock’s 50 day moving average is $11.67 and its two-hundred day moving average is $12.17. The stock has a market capitalization of $241.16 million, a PE ratio of 7.90 and a beta of 0.25.

Chicago Atlantic Real Estate Finance (NASDAQ:REFI) last released its earnings results on Thursday, May 7th. The company reported $0.46 earnings per share 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 firm had revenue of $13.12 million for the quarter, compared to analysts’ expectations of $13.69 million. On average, equities analysts predict that Chicago Atlantic Real Estate Finance, Inc. will post 1.74 earnings per share for the current year.

Chicago Atlantic Real Estate Finance Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 16.5%. The ex-dividend date of this dividend was Tuesday, March 31st. Chicago Atlantic Real Estate Finance’s dividend payout ratio is 130.56%.

Hedge Funds Weigh In On Chicago Atlantic Real Estate Finance

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Chicago Atlantic Real Estate Finance by 2.1% in the third quarter. Vanguard Group Inc. now owns 940,997 shares of the company’s stock valued at $12,035,000 after purchasing an additional 19,227 shares in the last quarter. Fielder Capital Group LLC boosted its holdings 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 purchasing an additional 22,743 shares in the last quarter. Clayton Partners LLC boosted its holdings 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 purchasing an additional 73,037 shares in the last quarter. Van ECK Associates Corp boosted its holdings 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 purchasing an additional 9,426 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings 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 valued at $2,362,000 after purchasing an additional 26,751 shares in the last quarter. 25.48% of the stock is owned by institutional investors and hedge funds.

Chicago Atlantic Real Estate Finance Company Profile

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.