Chicago Atlantic Real Estate Finance (NASDAQ:REFI) Releases Quarterly Earnings Results, Misses Expectations By $0.05 EPS

Chicago Atlantic Real Estate Finance (NASDAQ:REFI – Get Free Report) issued its earnings results on Tuesday. The company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.05), FiscalAI reports. The company had revenue of $12.61 million during the quarter, compared to analyst estimates of $14.17 million. Chicago Atlantic Real Estate Finance had a return on equity of 11.98% and a net margin of 55.54%.

Chicago Atlantic Real Estate Finance Stock Up 0.2%

REFI opened at $10.25 on Tuesday. The stock has a market capitalization of $217.49 million, a price-to-earnings ratio of 7.08 and a beta of 0.24. The company has a 50-day simple moving average of $10.71 and a 200 day simple moving average of $11.47. Chicago Atlantic Real Estate Finance has a twelve month low of $9.69 and a twelve month high of $14.57.

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Chicago Atlantic Real Estate Finance Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a $0.47 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $1.88 annualized dividend and a yield of 18.3%. Chicago Atlantic Real Estate Finance’s payout ratio is 130.56%.

Hedge Funds Weigh In On Chicago Atlantic Real Estate Finance

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in Chicago Atlantic Real Estate Finance by 2.1% during the third quarter. Vanguard Group Inc. now owns 940,997 shares of the company’s stock worth $12,035,000 after buying an additional 19,227 shares during the last quarter. Van ECK Associates Corp raised its position in shares of Chicago Atlantic Real Estate Finance by 5.0% in the 3rd quarter. Van ECK Associates Corp now owns 198,812 shares of the company’s stock worth $2,543,000 after acquiring an additional 9,426 shares in the last quarter. Millennium Management LLC lifted its stake in shares of Chicago Atlantic Real Estate Finance by 16.9% in the 3rd quarter. Millennium Management LLC now owns 184,697 shares of the company’s stock valued at $2,362,000 after purchasing an additional 26,751 shares during the period. Osaic Holdings Inc. boosted its position in shares of Chicago Atlantic Real Estate Finance by 1.0% during the 4th quarter. Osaic Holdings Inc. now owns 84,478 shares of the company’s stock valued at $1,036,000 after purchasing an additional 862 shares in the last quarter. Finally, Jane Street Group LLC bought a new stake in Chicago Atlantic Real Estate Finance in the fourth quarter worth approximately $747,000. 25.48% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on REFI. Weiss Ratings lowered Chicago Atlantic Real Estate Finance from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, June 16th. Zacks Research lowered Chicago Atlantic Real Estate Finance from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $14.00.

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About Chicago Atlantic Real Estate Finance

(Get Free Report)

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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