Chicago Atlantic Real Estate Finance (NASDAQ:REFI) Upgraded to Strong-Buy at Zacks Research

Chicago Atlantic Real Estate Finance (NASDAQ:REFI) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

Other research analysts have also recently issued research reports about the stock. Weiss Ratings cut shares of Chicago Atlantic Real Estate Finance from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, June 16th. Oppenheimer lowered shares of Chicago Atlantic Real Estate Finance from an “outperform” rating to a “market perform” rating in a report on Monday, March 16th. One analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Chicago Atlantic Real Estate Finance presently has an average rating of “Hold” and an average target price of $14.00.

Chicago Atlantic Real Estate Finance Stock Performance

Shares of REFI stock opened at $10.73 on Monday. Chicago Atlantic Real Estate Finance has a fifty-two week low of $10.56 and a fifty-two week high of $14.57. The stock’s fifty day moving average price is $11.33 and its two-hundred day moving average price is $11.86. The company has a market cap of $227.58 million, a PE ratio of 7.45 and a beta of 0.23.

Chicago Atlantic Real Estate Finance (NASDAQ:REFI) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.46 earnings per share 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 return on equity of 11.98% and a net margin of 55.54%. On average, equities analysts predict that Chicago Atlantic Real Estate Finance will post 1.72 EPS for the current fiscal year.

Institutional Investors Weigh In On Chicago Atlantic Real Estate Finance

Several hedge funds have recently added to or reduced their stakes in REFI. Jane Street Group LLC acquired a new position in Chicago Atlantic Real Estate Finance in the 1st quarter valued at approximately $186,000. Strs Ohio acquired a new position in shares of Chicago Atlantic Real Estate Finance during the first quarter worth $47,000. Geode Capital Management LLC grew its stake in shares of Chicago Atlantic Real Estate Finance by 8.5% in the second quarter. Geode Capital Management LLC now owns 18,367 shares of the company’s stock worth $257,000 after purchasing an additional 1,446 shares during the last quarter. Rhumbline Advisers grew its stake in shares of Chicago Atlantic Real Estate Finance by 12.7% in the second quarter. Rhumbline Advisers now owns 26,513 shares of the company’s stock worth $370,000 after purchasing an additional 2,993 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in Chicago Atlantic Real Estate Finance by 29.2% in the second quarter. Russell Investments Group Ltd. now owns 3,552 shares of the company’s stock valued at $50,000 after purchasing an additional 803 shares during the period. 25.48% of the stock is currently 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.