Chicago Atlantic Real Estate Finance (NASDAQ:REFI) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Chicago Atlantic Real Estate Finance (NASDAQ:REFI – Get Rating) released its quarterly earnings data on Thursday. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.02, MarketWatch Earnings reports.

REFI traded down $0.06 on Friday, reaching $16.07. The company had a trading volume of 167,529 shares, compared to its average volume of 45,835. Chicago Atlantic Real Estate Finance has a fifty-two week low of $15.50 and a fifty-two week high of $20.29. The firm’s fifty day simple moving average is $17.58.

The business also recently declared a quarterly dividend, which was paid on Thursday, April 14th. Investors of record on Thursday, March 31st were paid a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, March 30th. This represents a $1.60 dividend on an annualized basis and a yield of 9.96%.

In other Chicago Atlantic Real Estate Finance news, Director Jason D. Papastavrou acquired 2,324 shares of the business’s stock in a transaction on Friday, April 22nd. The stock was purchased at an average price of $17.94 per share, with a total value of $41,692.56. Following the acquisition, the director now directly owns 12,012 shares of the company’s stock, valued at approximately $215,495.28. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jason D. Papastavrou purchased 3,000 shares of the business’s stock in a transaction dated Monday, April 25th. The shares were purchased at an average cost of $17.91 per share, with a total value of $53,730.00. Following the acquisition, the director now owns 15,012 shares in the company, valued at approximately $268,864.92. The disclosure for this purchase can be found here.

Several institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. bought a new stake in shares of Chicago Atlantic Real Estate Finance during the 1st quarter worth approximately $50,000. American International Group Inc. bought a new stake in shares of Chicago Atlantic Real Estate Finance during the 1st quarter worth approximately $53,000. Cubist Systematic Strategies LLC bought a new stake in shares of Chicago Atlantic Real Estate Finance during the 4th quarter worth approximately $52,000. Bank of New York Mellon Corp bought a new stake in shares of Chicago Atlantic Real Estate Finance during the 1st quarter worth approximately $245,000. Finally, Charles Schwab Investment Management Inc. bought a new stake in shares of Chicago Atlantic Real Estate Finance during the 1st quarter worth approximately $287,000. 17.40% of the stock is owned by institutional investors.

Several research firms have recently weighed in on REFI. Zacks Investment Research lowered shares of Chicago Atlantic Real Estate Finance from a “hold” rating to a “sell” rating in a research note on Friday, March 25th. Oppenheimer boosted their price objective on shares of Chicago Atlantic Real Estate Finance to $18.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 23rd. Finally, JMP Securities reiterated a “buy” rating and issued a $26.00 price target on shares of Chicago Atlantic Real Estate Finance in a research note on Wednesday, March 23rd. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Chicago Atlantic Real Estate Finance has a consensus rating of “Buy” and an average price target of $22.25.

About Chicago Atlantic Real Estate Finance (Get Rating)

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

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