Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) to Issue $0.47 Quarterly Dividend

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) announced a quarterly dividend on Wednesday, September 16th. Investors of record on Wednesday, September 30th will be given a dividend of 0.47 per share on Thursday, October 15th. This represents a c) annualized dividend and a yield of 17.1%. The ex-dividend date is Wednesday, September 30th.

Chicago Atlantic Real Estate Finance has a payout ratio of 90.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities analysts expect Chicago Atlantic Real Estate Finance to earn $1.80 per share next year, which means the company may not be able to cover its $1.88 annual dividend with an expected future payout ratio of 104.4%.

Chicago Atlantic Real Estate Finance Price Performance

Shares of REFI opened at $11.01 on Thursday. The company has a market capitalization of $282.08 million, a PE ratio of 8.04 and a beta of 0.26. Chicago Atlantic Real Estate Finance has a one year low of $9.69 and a one year high of $13.72. The company’s fifty day moving average price is $10.50 and its 200 day moving average price is $11.20.

Chicago Atlantic Real Estate Finance (NASDAQ:REFI) last announced its 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 company 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%. Analysts anticipate that Chicago Atlantic Real Estate Finance will post 1.72 earnings per share for the current year.

Insider Buying and Selling at Chicago Atlantic Real Estate Finance

In other Chicago Atlantic Real Estate Finance news, CEO Peter Sack bought 3,500 shares of the stock in a transaction dated Wednesday, August 19th. The stock was bought at an average cost of $10.45 per share, for a total transaction of $36,575.00. Following the completion of the purchase, the chief executive officer owned 123,356 shares in the company, valued at $1,289,070.20. This represents a 2.92% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman John Mazarakis purchased 40,181 shares of the business’s stock in a transaction that occurred on Wednesday, August 26th. The stock was acquired at an average cost of $10.67 per share, with a total value of $428,731.27. Following the completion of the acquisition, the chairman directly owned 519,032 shares of the company’s stock, valued at $5,538,071.44. The trade was a 8.39% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders acquired 122,856 shares of company stock worth $1,287,094. 6.50% of the stock is currently owned by insiders.

Institutional Trading of Chicago Atlantic Real Estate Finance

A number of hedge funds and other institutional investors have recently modified their holdings of REFI. Empowered Funds LLC bought a new position in Chicago Atlantic Real Estate Finance in the 2nd quarter worth approximately $213,000. Corient Private Wealth LP bought a new stake in shares of Chicago Atlantic Real Estate Finance during the second quarter worth $1,637,000. Bank of America Corp DE acquired a new position in shares of Chicago Atlantic Real Estate Finance during the second quarter valued at $151,000. Odyssean LLC lifted its stake in shares of Chicago Atlantic Real Estate Finance by 387.8% during the second quarter. Odyssean LLC now owns 63,292 shares of the company’s stock valued at $678,000 after acquiring an additional 50,317 shares during the period. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Chicago Atlantic Real Estate Finance during the second quarter valued at $248,000. 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 is a specialty finance company organized as a real estate investment trust. The company originates, underwrites and manages commercial real estate debt investments, with a primary focus on providing financing to businesses operating in the state-legal cannabis industry.

Its investment activities are centered on senior secured loans, including mortgage loans backed by commercial real estate and other assets. These financings are designed to support cannabis cultivation, processing, retail and related properties, as well as other commercial real estate borrowers.