Zacks Research Upgrades Chicago Atlantic Real Estate Finance (NASDAQ:REFI) to “Strong-Buy”

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

Separately, Oppenheimer downgraded Chicago Atlantic Real Estate Finance from an “outperform” rating to a “market perform” rating in a research note on Monday, March 16th. One investment analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company. According to MarketBeat, Chicago Atlantic Real Estate Finance has an average rating of “Moderate Buy” and an average target price of $14.00.

Chicago Atlantic Real Estate Finance Trading Down 0.8%

Shares of REFI stock opened at $12.34 on Thursday. The stock has a market cap of $260.13 million, a P/E ratio of 7.35 and a beta of 0.22. Chicago Atlantic Real Estate Finance has a 1 year low of $11.62 and a 1 year high of $15.49. The stock has a 50 day simple moving average of $12.23 and a 200 day simple moving average of $12.67.

Chicago Atlantic Real Estate Finance (NASDAQ:REFI) last posted its quarterly earnings data on Thursday, March 12th. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.01. The firm had revenue of $14.24 million for the quarter, compared to analyst estimates of $14.20 million. Chicago Atlantic Real Estate Finance had a return on equity of 11.94% and a net margin of 65.01%. Analysts forecast that Chicago Atlantic Real Estate Finance will post 1.9 EPS for the current year.

Institutional Trading of Chicago Atlantic Real Estate Finance

Hedge funds have recently made changes to their positions in the company. Invesco Ltd. increased its stake in shares of Chicago Atlantic Real Estate Finance by 18.0% in the fourth quarter. Invesco Ltd. now owns 30,833 shares of the company’s stock valued at $378,000 after buying an additional 4,700 shares during the period. Mercer Global Advisors Inc. ADV bought a new stake in Chicago Atlantic Real Estate Finance during the 4th quarter worth approximately $183,000. Garton & Associates Financial Advisors LLC acquired a new position in Chicago Atlantic Real Estate Finance in the 4th quarter valued at approximately $53,000. Virtus Investment Advisers LLC acquired a new position in Chicago Atlantic Real Estate Finance in the 4th quarter valued at approximately $154,000. Finally, Odyssean LLC acquired a new position in shares of Chicago Atlantic Real Estate Finance during the fourth quarter worth $147,000. 25.48% of the stock is owned by institutional investors and hedge funds.

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.