Chicago Atlantic Real Estate Finance, Inc. (REFI) to Issue Quarterly Dividend of $0.47 on July 15th

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) declared a quarterly dividend on Tuesday, June 16th. Investors of record on Tuesday, June 30th will be paid a dividend of 0.47 per share on Wednesday, July 15th. This represents a c) annualized dividend and a yield of 16.5%. The ex-dividend date is Tuesday, June 30th.

Chicago Atlantic Real Estate Finance has a payout ratio of 90.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities analysts expect Chicago Atlantic Real Estate Finance to earn $1.80 per share next year, which means the company may not be able to cover its $1.88 annual dividend with an expected future payout ratio of 104.4%.

Chicago Atlantic Real Estate Finance Stock Performance

Shares of REFI stock opened at $11.41 on Friday. Chicago Atlantic Real Estate Finance has a 52-week low of $10.74 and a 52-week high of $14.59. The stock has a market cap of $242.01 million, a PE ratio of 7.92 and a beta of 0.23. The firm’s 50 day moving average price is $11.50 and its two-hundred day moving average price is $11.98.

Chicago Atlantic Real Estate Finance (NASDAQ:REFI) last issued its earnings results on Thursday, May 7th. The company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.02). The business had revenue of $12.92 million for the quarter, compared to the consensus estimate of $13.69 million. Chicago Atlantic Real Estate Finance had a net margin of 55.54% and a return on equity of 11.98%. As a group, sell-side analysts predict that Chicago Atlantic Real Estate Finance will post 1.72 earnings per share for the current fiscal year.

Analysts Set New Price Targets

REFI has been the subject of a number of recent analyst reports. Oppenheimer downgraded Chicago Atlantic Real Estate Finance from an “outperform” rating to a “market perform” rating in a report on Monday, March 16th. Weiss Ratings cut Chicago Atlantic Real Estate Finance from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, June 16th. Finally, Zacks Research lowered Chicago Atlantic Real Estate Finance from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 15th. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Chicago Atlantic Real Estate Finance presently has an average rating of “Reduce” and a consensus target price of $14.00.

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.