Peter Sack Acquires 1,500 Shares of Chicago Atlantic Real Estate Finance (NASDAQ:REFI) Stock

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) CEO Peter Sack purchased 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The stock was bought at an average cost of $10.43 per share, for a total transaction of $15,645.00. Following the completion of the acquisition, the chief executive officer directly owned 119,856 shares in the company, valued at $1,250,098.08. The trade was a 1.27% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Peter Sack also recently made the following trade(s):

• On Wednesday, August 19th, Peter Sack purchased 3,500 shares of Chicago Atlantic Real Estate Finance stock. The shares were bought at an average price of $10.45 per share, with a total value of $36,575.00.

Chicago Atlantic Real Estate Finance Stock Performance

NASDAQ REFI opened at $10.78 on Friday. Chicago Atlantic Real Estate Finance, Inc. has a 52-week low of $9.69 and a 52-week high of $14.57. The company has a 50-day simple moving average of $10.55 and a 200 day simple moving average of $11.36. The company has a market capitalization of $276.18 million, a PE ratio of 7.87 and a beta of 0.24.

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

Chicago Atlantic Real Estate Finance Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a $0.47 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $1.88 annualized dividend and a yield of 17.4%. Chicago Atlantic Real Estate Finance’s dividend payout ratio is presently 137.23%.

Institutional Investors Weigh In On Chicago Atlantic Real Estate Finance

Institutional investors have recently made changes to their positions in the stock. Empowered Funds LLC bought a new position in shares of Chicago Atlantic Real Estate Finance in the second quarter worth $213,000. Corient Private Wealth LP bought a new stake in shares of Chicago Atlantic Real Estate Finance during the 2nd quarter valued at $1,637,000. Bank of America Corp DE purchased a new stake in Chicago Atlantic Real Estate Finance during the 2nd quarter worth about $151,000. Odyssean LLC lifted its holdings in Chicago Atlantic Real Estate Finance by 387.8% during the 2nd quarter. Odyssean LLC now owns 63,292 shares of the company’s stock worth $678,000 after purchasing an additional 50,317 shares in the last quarter. Finally, The Manufacturers Life Insurance Company bought a new position in Chicago Atlantic Real Estate Finance in the 2nd quarter worth about $248,000. Hedge funds and other institutional investors own 25.48% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on REFI. Weiss Ratings raised 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 report on Wednesday, August 12th. Citigroup reiterated a “market outperform” rating on shares of Chicago Atlantic Real Estate Finance in a research note on Wednesday, August 12th. Zacks Research lowered Chicago Atlantic Real Estate Finance from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 4th. Finally, Citizens Jmp decreased 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 report on Wednesday, August 12th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Chicago Atlantic Real Estate Finance currently has an average rating of “Hold” and a consensus price target of $15.33.

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.