Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) Short Interest Update

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFIGet Rating) was the target of a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 183,400 shares, an increase of 1,523.0% from the March 15th total of 11,300 shares. Based on an average daily volume of 74,100 shares, the short-interest ratio is presently 2.5 days. Currently, 4.7% of the company’s shares are short sold.

Several research analysts have recently weighed in on the company. Compass Point started coverage on Chicago Atlantic Real Estate Finance in a research report on Monday, January 3rd. They issued a “buy” rating and a $22.00 price objective for the company. Lake Street Capital began coverage on Chicago Atlantic Real Estate Finance in a research note on Monday, January 3rd. They issued a “buy” rating and a $23.00 price target on the stock. JMP Securities reaffirmed a “buy” rating and set a $26.00 price objective on shares of Chicago Atlantic Real Estate Finance in a research report on Wednesday, March 23rd. Oppenheimer boosted their target price on shares of Chicago Atlantic Real Estate Finance to $18.00 and gave the company an “outperform” rating in a research report on Wednesday, March 23rd. Finally, Zacks Investment Research cut shares of Chicago Atlantic Real Estate Finance from a “hold” rating to a “sell” rating in a report on Friday, March 25th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $22.25.

REFI stock traded up $0.17 during midday trading on Tuesday, reaching $17.57. 2 shares of the company’s stock traded hands, compared to its average volume of 98,263. The firm has a fifty day simple moving average of $18.50. Chicago Atlantic Real Estate Finance has a 52 week low of $15.50 and a 52 week high of $20.29.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 14th. Stockholders of record on Thursday, March 31st will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 9.11%. The ex-dividend date of this dividend is Wednesday, March 30th.

Large investors have recently bought and sold shares of the company. Clayton Partners LLC bought a new position in Chicago Atlantic Real Estate Finance in the 4th quarter valued at about $708,000. Pentwater Capital Management LP bought a new position in shares of Chicago Atlantic Real Estate Finance in the fourth quarter valued at approximately $1,915,000. Goldman Sachs Group Inc. purchased a new position in shares of Chicago Atlantic Real Estate Finance during the fourth quarter valued at approximately $522,000. Contrarian Capital Management L.L.C. bought a new stake in Chicago Atlantic Real Estate Finance during the fourth quarter worth $2,772,000. Finally, Point72 Hong Kong Ltd purchased a new stake in Chicago Atlantic Real Estate Finance in the 4th quarter valued at $117,000. 7.49% of the stock is owned by institutional investors.

Chicago Atlantic Real Estate Finance Company Profile (Get Rating)

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

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