Chicago Atlantic Real Estate Finance (NASDAQ:REFI) Issues Quarterly Earnings Results

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

REFI stock traded down $0.11 during mid-day trading on Friday, reaching $16.02. 1,260 shares of the company’s stock were exchanged, compared to its average volume of 41,081. The firm has a 50 day moving average of $17.72. Chicago Atlantic Real Estate Finance has a 12-month low of $15.50 and a 12-month high of $20.29.

The business also recently announced a quarterly dividend, which was paid on Thursday, April 14th. Stockholders of record on Thursday, March 31st were paid a $0.40 dividend. The ex-dividend date was Wednesday, March 30th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 9.99%.

REFI has been the topic of several research analyst reports. Oppenheimer boosted their price target on Chicago Atlantic Real Estate Finance to $18.00 and gave the company an “outperform” rating in a research note on Wednesday, March 23rd. Zacks Investment Research downgraded Chicago Atlantic Real Estate Finance from a “hold” rating to a “sell” rating in a research note on Friday, March 25th. Finally, JMP Securities restated a “buy” rating and issued a $26.00 target price on shares of Chicago Atlantic Real Estate Finance in a research note on Wednesday, March 23rd. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $22.25.

In other Chicago Atlantic Real Estate Finance news, Director Jason D. Papastavrou purchased 2,324 shares of the stock in a transaction on Friday, April 22nd. The shares were bought at an average price of $17.94 per share, for a total transaction of $41,692.56. Following the completion of the transaction, the director now owns 12,012 shares of the company’s stock, valued at approximately $215,495.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jason D. Papastavrou purchased 3,000 shares of the stock in a transaction 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 transaction, the director now directly owns 15,012 shares of the company’s stock, valued at approximately $268,864.92. The disclosure for this purchase can be found here.

Several large investors have recently bought and sold shares of REFI. Goldman Sachs Group Inc. acquired a new stake in shares of Chicago Atlantic Real Estate Finance in the fourth quarter valued at approximately $522,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Chicago Atlantic Real Estate Finance in the fourth quarter valued at approximately $52,000. Millennium Management LLC purchased a new position in Chicago Atlantic Real Estate Finance in the fourth quarter worth approximately $2,546,000. JPMorgan Chase & Co. purchased a new position in Chicago Atlantic Real Estate Finance in the first quarter worth approximately $50,000. Finally, Bank of New York Mellon Corp purchased a new position in Chicago Atlantic Real Estate Finance in the first quarter worth approximately $245,000. 17.40% of the stock is owned by hedge funds and other institutional investors.

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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