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

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) CEO Peter Sack acquired 3,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The shares were bought at an average cost of $10.45 per share, for a total transaction of $36,575.00. Following the acquisition, the chief executive officer directly owned 123,356 shares in the company, valued at $1,289,070.20. This represents a 2.92% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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 stock was bought at an average price of $10.43 per share, with a total value of $15,645.00.

Chicago Atlantic Real Estate Finance Price Performance

Shares of REFI opened at $10.78 on Monday. The business’s 50-day moving average price is $10.55 and its 200-day moving average price is $11.35. Chicago Atlantic Real Estate Finance, Inc. has a twelve month low of $9.69 and a twelve month high of $14.57. The stock has a market cap of $276.18 million, a PE ratio of 7.87 and a beta of 0.24.

Chicago Atlantic Real Estate Finance (NASDAQ:REFI) last announced its quarterly earnings results 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). The firm had revenue of $12.61 million during the quarter, compared to analysts’ expectations of $14.17 million. Chicago Atlantic Real Estate Finance had a return on equity of 11.53% and a net margin of 54.57%. Analysts expect 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 declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 17.4%. The ex-dividend date of this dividend was Tuesday, June 30th. Chicago Atlantic Real Estate Finance’s dividend payout ratio (DPR) is presently 137.23%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on REFI. Citigroup reaffirmed a “market outperform” rating on shares of Chicago Atlantic Real Estate Finance in a report on Wednesday, August 12th. Citizens Jmp reduced their target price 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. Atlantic Securities set a $16.00 target price on Chicago Atlantic Real Estate Finance in a research report on Wednesday, August 12th. Zacks Research cut Chicago Atlantic Real Estate Finance from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 4th. Finally, 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. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $15.33.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Strs Ohio purchased a new stake in Chicago Atlantic Real Estate Finance during the first quarter valued at about $47,000. Russell Investments Group Ltd. lifted its stake in Chicago Atlantic Real Estate Finance by 29.2% during the second quarter. Russell Investments Group Ltd. now owns 3,552 shares of the company’s stock worth $50,000 after purchasing an additional 803 shares during the last quarter. Garton & Associates Financial Advisors LLC purchased a new position in shares of Chicago Atlantic Real Estate Finance in the 4th quarter worth about $53,000. PNC Financial Services Group Inc. boosted its holdings in shares of Chicago Atlantic Real Estate Finance by 290.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,183 shares of the company’s stock worth $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. 25.48% of the stock is currently owned by hedge funds and other institutional investors.

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.