Chicago Atlantic Real Estate Finance (NASDAQ: REFI) Posts Quarterly Earnings Results, Beats Expectations By $ 0.02 EPS


Chicago Atlantic Real Estate Finance (NASDAQ: REFI – Get Rating) posted its earnings results on Thursday. The company reported $ 0.44 EPS for the quarter, topping the consensus estimate of $ 0.42 by $ 0.02, MarketWatch Earnings reports.

REFI opened at $ 16.07 on Friday. Chicago Atlantic Real Estate Finance has a twelve month low of $ 15.50 and a twelve month high of $ 20.29. The company has a 50-day moving average of $ 17.58.

The business also recently announced a quarterly dividend, which was paid on Thursday, April 14th. Shareholders of record on Thursday, March 31st were paid a $ 0.40 dividend. This represents a $ 1.60 dividend on an annualized basis and a yield of 9.96%. The ex-dividend date of this dividend was Wednesday, March 30th.

Several equities research analysts have recently commented on REFI shares. JMP Securities reissued a “buy” rating and set a $ 26.00 target price on shares of Chicago Atlantic Real Estate Finance in a research report on Wednesday, March 23rd. Zacks Investment Research downgraded shares of Chicago Atlantic Real Estate Finance from a “hold” rating to a “sell” rating in a research report on Friday, March 25th. Finally, Oppenheimer upped their price objective on shares of Chicago Atlantic Real Estate Finance to $ 18.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 23rd. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $ 22.25.

In related news, Director Jason D. Papastavrou bought 2,324 shares of the company’s stock in a transaction on Friday, April 22nd. The shares were purchased at an average cost of $ 17.94 per share, for a total transaction of $ 41,692.56. Following the completion of the purchase, the director now directly owns 12,012 shares in the company, valued at $ 215,495.28. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jason D. Papastavrou purchased 3,000 shares of the company’s stock in a transaction that occurred on Monday, April 25th. The shares were acquired at an average price of $ 17.91 per share, for a total transaction of $ 53,730.00. Following the completion of the purchase, the director now directly owns 15,012 shares in the company, valued at approximately $ 268,864.92. The disclosure for this purchase can be found here.

Several hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC purchased a new stake in shares of Chicago Atlantic Real Estate Finance during the 1st quarter valued at approximately $ 305,000. Northern Trust Corp purchased a new stake in shares of Chicago Atlantic Real Estate Finance during the 1st quarter valued at approximately $ 910,000. Charles Schwab Investment Management Inc. purchased a new stake in shares of Chicago Atlantic Real Estate Finance during the 1st quarter valued at approximately $ 287,000. American International Group Inc. purchased a new stake in shares of Chicago Atlantic Real Estate Finance during the 1st quarter valued at approximately $ 53,000. Finally, Vanguard Group Inc. purchased a new stake in Chicago Atlantic Real Estate Finance in the 1st quarter worth approximately $ 5,087,000. Institutional investors own 17.40% of the company’s stock.

About Chicago Atlantic Real Estate Finance (Get Rating)

Chicago Atlantic Real Estate Finance, Inc operates as a commercial real estate finance company in the United States. It originates, structures, and invests in first mortgage loans and alternative structured financings secured by commercial real estate properties. The company offers senior loans to state-licensed operators and property owners in the cannabis industry.

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