Zacks Research upgraded shares of Chicago Atlantic Real Estate Finance (NASDAQ:REFI – Free Report) from a hold rating to a strong-buy rating in a research report sent to investors on Monday,Zacks.com reports.
REFI has been the topic of several other reports. Oppenheimer lowered Chicago Atlantic Real Estate Finance from an “outperform” rating to a “market perform” rating in a research report on Monday, March 16th. Weiss Ratings cut shares of Chicago Atlantic Real Estate Finance from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, June 16th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Chicago Atlantic Real Estate Finance presently has an average rating of “Hold” and an average price target of $14.00.
Get Our Latest Analysis on Chicago Atlantic Real Estate Finance
Chicago Atlantic Real Estate Finance Price Performance
Chicago Atlantic Real Estate Finance (NASDAQ:REFI – Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.02). The business had revenue of $12.92 million during the quarter, compared to analysts’ expectations of $13.69 million. Chicago Atlantic Real Estate Finance had a net margin of 55.54% and a return on equity of 11.98%. On average, analysts expect that Chicago Atlantic Real Estate Finance will post 1.72 earnings per share for the current year.
Chicago Atlantic Real Estate Finance Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 17.5%. The ex-dividend date of this dividend is Tuesday, June 30th. Chicago Atlantic Real Estate Finance’s payout ratio is currently 130.56%.
Institutional Trading of Chicago Atlantic Real Estate Finance
Several institutional investors have recently bought and sold shares of REFI. Strs Ohio purchased a new stake in shares of Chicago Atlantic Real Estate Finance during the first quarter valued at approximately $47,000. Russell Investments Group Ltd. increased its position in Chicago Atlantic Real Estate Finance by 29.2% during the second 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. Garton & Associates Financial Advisors LLC bought a new position in shares of Chicago Atlantic Real Estate Finance in the 4th quarter worth approximately $53,000. PNC Financial Services Group Inc. raised its position in Chicago Atlantic Real Estate Finance by 290.3% in the first quarter. PNC Financial Services Group Inc. now owns 6,183 shares of the company’s stock worth $70,000 after acquiring an additional 4,599 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its position in Chicago Atlantic Real Estate Finance by 3,041.1% during the second quarter. EverSource Wealth Advisors LLC now owns 6,722 shares of the company’s stock valued at $94,000 after purchasing an additional 6,508 shares in the last quarter. 25.48% of the stock is owned by hedge funds and other institutional investors.
About Chicago Atlantic Real Estate Finance
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.
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