Insider Buying: Chicago Atlantic Real Estate Finance (NASDAQ:REFI) CEO Buys $36,575.00 in Stock

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) CEO Peter Sack bought 3,500 shares of the firm’s stock in a transaction on Wednesday, August 19th. The stock was purchased at an average cost of $10.45 per share, for a total transaction of $36,575.00. Following the completion of the acquisition, the chief executive officer owned 123,356 shares in the company, valued at approximately $1,289,070.20. This trade represents a 2.92% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Peter Sack also recently made the following trade(s):

• On Tuesday, August 18th, Peter Sack bought 1,500 shares of Chicago Atlantic Real Estate Finance stock. The shares were acquired at an average price of $10.43 per share, with a total value of $15,645.00.

Chicago Atlantic Real Estate Finance Stock Up 0.8%

Shares of REFI stock traded up $0.08 on Friday, reaching $10.69. The company had a trading volume of 102,355 shares, compared to its average volume of 158,440. Chicago Atlantic Real Estate Finance, Inc. has a one year low of $9.69 and a one year high of $14.57. The stock has a market capitalization of $273.88 million, a PE ratio of 7.80 and a beta of 0.24. The business’s 50-day moving average is $10.56 and its 200 day moving average is $11.36.

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 the consensus estimate of $0.48 by ($0.05). The firm had revenue of $12.61 million for the quarter, compared to the consensus estimate of $14.17 million. Chicago Atlantic Real Estate Finance had a return on equity of 11.53% and a net margin of 54.57%. On average, sell-side analysts forecast that Chicago Atlantic Real Estate Finance, Inc. will post 1.72 earnings per share for the current fiscal year.

Chicago Atlantic Real Estate Finance Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 17.6%. The ex-dividend date of this dividend was Tuesday, June 30th. Chicago Atlantic Real Estate Finance’s dividend payout ratio is presently 137.23%.

Institutional Investors Weigh In On Chicago Atlantic Real Estate Finance

A number of large investors have recently modified their holdings of REFI. Strs Ohio bought a new stake in Chicago Atlantic Real Estate Finance during the 1st quarter valued at about $47,000. Russell Investments Group Ltd. increased 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 in the last quarter. Garton & Associates Financial Advisors LLC purchased a new stake in Chicago Atlantic Real Estate Finance in the 4th quarter worth $53,000. PNC Financial Services Group Inc. raised its stake in Chicago Atlantic Real Estate Finance by 290.3% during the first quarter. PNC Financial Services Group Inc. now owns 6,183 shares of the company’s stock valued at $70,000 after purchasing an additional 4,599 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position 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 purchasing an additional 6,508 shares during the last quarter. Institutional investors own 25.48% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on REFI. Citizens Jmp decreased their price target on Chicago Atlantic Real Estate Finance from $18.00 to $16.00 and set a “market outperform” rating for the company in a report on Wednesday, August 12th. Weiss Ratings raised Chicago Atlantic Real Estate Finance from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, August 11th. Zacks Research lowered shares of 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 target price on Chicago Atlantic Real Estate Finance in a report on Wednesday, August 12th. Finally, Citigroup reissued a “market outperform” rating on shares of Chicago Atlantic Real Estate Finance in a research note on Wednesday, August 12th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $15.33.

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.