Chicago Atlantic Real Estate Finance (NASDAQ:REFI) Downgraded to Market Perform Rating by Oppenheimer

Oppenheimer lowered shares of Chicago Atlantic Real Estate Finance (NASDAQ:REFI) from an outperform rating to a market perform rating in a report issued on Monday morning, MarketBeat.com reports.

Separately, Zacks Research upgraded Chicago Atlantic Real Estate Finance from a “strong sell” rating to a “hold” rating in a research report on Monday, January 5th. Three analysts have rated the stock with a Hold rating, According to MarketBeat.com, Chicago Atlantic Real Estate Finance currently has a consensus rating of “Hold” and a consensus target price of $14.00.

Chicago Atlantic Real Estate Finance Stock Performance

NASDAQ:REFI opened at $12.32 on Monday. Chicago Atlantic Real Estate Finance has a 52-week low of $11.62 and a 52-week high of $15.67. The firm has a market cap of $259.71 million, a price-to-earnings ratio of 7.33 and a beta of 0.22. The business’s fifty day moving average is $12.22 and its 200 day moving average is $12.70.

Chicago Atlantic Real Estate Finance (NASDAQ:REFI) last issued its quarterly earnings data on Thursday, March 12th. The company reported $0.43 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $14.20 million. Equities analysts predict that Chicago Atlantic Real Estate Finance will post 1.9 EPS for the current fiscal year.

Chicago Atlantic Real Estate Finance Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be issued a $0.47 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $1.88 annualized dividend and a dividend yield of 15.3%. Chicago Atlantic Real Estate Finance’s dividend payout ratio is presently 111.90%.

Institutional Investors Weigh In On Chicago Atlantic Real Estate Finance

Several large investors have recently added to or reduced their stakes in REFI. CWM LLC grew its position in Chicago Atlantic Real Estate Finance by 79.3% during the third quarter. CWM LLC now owns 2,160 shares of the company’s stock worth $28,000 after buying an additional 955 shares in the last quarter. Transce3nd LLC purchased a new stake in shares of Chicago Atlantic Real Estate Finance in the 2nd quarter valued at about $47,000. Strs Ohio purchased a new stake in shares of Chicago Atlantic Real Estate Finance in the 1st quarter valued at about $47,000. Russell Investments Group Ltd. boosted its position in shares of Chicago Atlantic Real Estate Finance by 29.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 3,552 shares of the company’s stock valued at $50,000 after acquiring an additional 803 shares during the last quarter. Finally, Garton & Associates Financial Advisors LLC bought a new stake in shares of Chicago Atlantic Real Estate Finance during the 4th quarter valued at about $53,000. 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.