Citizens Jmp Issues Pessimistic Forecast for Chicago Atlantic Real Estate Finance (NASDAQ:REFI) Stock Price

Chicago Atlantic Real Estate Finance (NASDAQ:REFI) had its target price dropped by analysts at Citizens Jmp from $18.00 to $16.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “market outperform” rating on the stock. Citizens Jmp’s price target would suggest a potential upside of 54.74% from the company’s current price.

REFI has been the topic of a number of other reports. Zacks Research downgraded Chicago Atlantic Real Estate Finance from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Atlantic Securities set a $16.00 price target on Chicago Atlantic Real Estate Finance in a research report on Wednesday. Citigroup reaffirmed a “market outperform” rating on shares of Chicago Atlantic Real Estate Finance in a research note on Wednesday. Finally, Weiss Ratings downgraded Chicago Atlantic Real Estate Finance from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, June 16th. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Chicago Atlantic Real Estate Finance currently has a consensus rating of “Hold” and a consensus target price of $15.33.

Chicago Atlantic Real Estate Finance Trading Up 1.1%

REFI stock opened at $10.34 on Wednesday. The firm has a 50 day moving average of $10.69 and a 200-day moving average of $11.46. Chicago Atlantic Real Estate Finance has a 12-month low of $9.69 and a 12-month high of $14.57. The company has a market cap of $219.31 million, a price-to-earnings ratio of 7.18 and a beta of 0.24.

Chicago Atlantic Real Estate Finance (NASDAQ:REFI) last released its quarterly earnings results on Tuesday, August 11th. The company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.05). The firm had revenue of $12.61 million during the quarter, compared to analyst estimates of $14.17 million. Chicago Atlantic Real Estate Finance had a return on equity of 11.98% and a net margin of 55.54%. Sell-side analysts forecast that Chicago Atlantic Real Estate Finance will post 1.72 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Chicago Atlantic Real Estate Finance

Several hedge funds have recently made changes to their positions in the business. Strs Ohio purchased a new stake in shares of Chicago Atlantic Real Estate Finance in the first quarter valued at $47,000. Russell Investments Group Ltd. boosted its stake in Chicago Atlantic Real Estate Finance by 29.2% in the 2nd quarter. Russell Investments Group Ltd. now owns 3,552 shares of the company’s stock worth $50,000 after buying an additional 803 shares during the last quarter. Garton & Associates Financial Advisors LLC purchased a new stake in Chicago Atlantic Real Estate Finance in the 4th quarter valued at about $53,000. PNC Financial Services Group Inc. increased its stake in shares of Chicago Atlantic Real Estate Finance by 290.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,183 shares of the company’s stock valued at $70,000 after acquiring an additional 4,599 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Chicago Atlantic Real Estate Finance by 3,041.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,722 shares of the company’s stock valued at $94,000 after acquiring an additional 6,508 shares during the last quarter. Institutional investors and hedge funds own 25.48% of the company’s stock.

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.