Insider Buying: Chicago Atlantic Real Estate Finance (NASDAQ:REFI) CEO Purchases $468,000.00 in Stock

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) CEO Anthony Cappell purchased 45,000 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The stock was bought at an average price of $10.40 per share, for a total transaction of $468,000.00. Following the transaction, the chief executive officer directly owned 466,706 shares of the company’s stock, valued at $4,853,742.40. This trade represents a 10.67% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link.

Chicago Atlantic Real Estate Finance Price Performance

REFI stock traded up $0.22 during midday trading on Wednesday, reaching $10.59. The company had a trading volume of 139,052 shares, compared to its average volume of 158,505. Chicago Atlantic Real Estate Finance, Inc. has a 1-year low of $9.69 and a 1-year high of $14.57. The stock has a 50 day moving average price of $10.59 and a 200-day moving average price of $11.39. The company has a market capitalization of $271.32 million, a price-to-earnings ratio of 7.73 and a beta of 0.24.

Chicago Atlantic Real Estate Finance (NASDAQ:REFI) last announced its quarterly earnings data on Tuesday, August 11th. The company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.05). Chicago Atlantic Real Estate Finance had a return on equity of 11.53% and a net margin of 54.57%.The firm had revenue of $12.61 million for the quarter, compared to analyst estimates of $14.17 million. As a group, research analysts anticipate that Chicago Atlantic Real Estate Finance, Inc. will post 1.72 earnings per share for the current year.

Chicago Atlantic Real Estate Finance Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a dividend of $0.47 per share. The ex-dividend date was Tuesday, June 30th. This represents a $1.88 annualized dividend and a dividend yield of 17.8%. Chicago Atlantic Real Estate Finance’s dividend payout ratio (DPR) is currently 137.23%.

Analyst Ratings Changes

REFI has been the subject of several research analyst reports. Weiss Ratings upgraded shares of Chicago Atlantic Real Estate Finance from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, August 11th. Atlantic Securities set a $16.00 price target on Chicago Atlantic Real Estate Finance in a research note on Wednesday, August 12th. Citigroup reissued a “market outperform” rating on shares of Chicago Atlantic Real Estate Finance in a report on Wednesday, August 12th. Citizens Jmp dropped their price objective on Chicago Atlantic Real Estate Finance from $18.00 to $16.00 and set a “market outperform” rating for the company in a research report on Wednesday, August 12th. Finally, Zacks Research lowered Chicago Atlantic Real Estate Finance from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $15.33.

Hedge Funds Weigh In On Chicago Atlantic Real Estate Finance

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in Chicago Atlantic Real Estate Finance in the second quarter valued at about $18,428,000. Fielder Capital Group LLC bought a new stake in shares of Chicago Atlantic Real Estate Finance during the second quarter worth about $10,530,000. Corient Private Wealth LP bought a new stake in shares of Chicago Atlantic Real Estate Finance during the second quarter worth about $1,637,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Chicago Atlantic Real Estate Finance in the second quarter valued at approximately $1,220,000. Finally, Clayton Partners LLC increased its stake in shares of 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 buying an additional 73,037 shares during the period. Institutional investors own 25.48% of the company’s stock.

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.