Chicago Atlantic Real Estate Finance (NASDAQ:REFI) Upgraded at Zacks Research

Zacks Research upgraded shares of Chicago Atlantic Real Estate Finance (NASDAQ:REFI) from a hold rating to a strong-buy rating in a report issued on Thursday,Zacks.com reports.

Separately, Oppenheimer lowered shares of Chicago Atlantic Real Estate Finance from an “outperform” rating to a “market perform” rating in a research report on Monday, March 16th. One analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $14.00.

Chicago Atlantic Real Estate Finance Price Performance

Shares of REFI opened at $12.34 on Thursday. The company has a 50-day moving average of $12.23 and a 200 day moving average of $12.66. The firm has a market capitalization of $260.13 million, a price-to-earnings 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.

Chicago Atlantic Real Estate Finance (NASDAQ:REFI) last released its quarterly earnings data on Thursday, March 12th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.01. Chicago Atlantic Real Estate Finance had a return on equity of 11.94% and a net margin of 65.01%.The business had revenue of $14.24 million during the quarter, compared to analyst estimates of $14.20 million. On average, equities analysts anticipate that Chicago Atlantic Real Estate Finance will post 1.9 earnings per share for the current fiscal year.

Chicago Atlantic Real Estate Finance Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 15.2%. The ex-dividend date of this dividend is Tuesday, March 31st. Chicago Atlantic Real Estate Finance’s dividend payout ratio is presently 111.90%.

Institutional Investors Weigh In On Chicago Atlantic Real Estate Finance

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Jane Street Group LLC purchased a new position in Chicago Atlantic Real Estate Finance during the first quarter valued at $186,000. Strs Ohio purchased a new stake in shares of Chicago Atlantic Real Estate Finance during the first quarter worth about $47,000. Geode Capital Management LLC raised its position in shares of Chicago Atlantic Real Estate Finance by 8.5% during the 2nd quarter. Geode Capital Management LLC now owns 18,367 shares of the company’s stock worth $257,000 after purchasing an additional 1,446 shares during the last quarter. Rhumbline Advisers raised its position in shares of Chicago Atlantic Real Estate Finance by 12.7% during the 2nd quarter. Rhumbline Advisers now owns 26,513 shares of the company’s stock worth $370,000 after purchasing an additional 2,993 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in Chicago Atlantic Real Estate Finance by 29.2% in the 2nd quarter. Russell Investments Group Ltd. now owns 3,552 shares of the company’s stock valued at $50,000 after buying an additional 803 shares in the last quarter. Hedge funds and other institutional investors own 25.48% of the company’s stock.

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.