Chicago Atlantic Real Estate Finance (NASDAQ:REFI) Chairman Acquires $93,225.00 in Stock

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) Chairman John Mazarakis acquired 7,500 shares of the company’s stock in a transaction dated Wednesday, October 1st. The shares were purchased at an average cost of $12.43 per share, with a total value of $93,225.00. Following the acquisition, the chairman owned 408,607 shares of the company’s stock, valued at approximately $5,078,985.01. This represents a 1.87% increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Chicago Atlantic Real Estate Finance Trading Up 2.1%

NASDAQ REFI opened at $12.85 on Friday. The firm has a market cap of $270.81 million, a price-to-earnings ratio of 7.02 and a beta of 0.22. The company has a 50 day moving average of $13.65 and a 200-day moving average of $14.11. Chicago Atlantic Real Estate Finance, Inc. has a 1-year low of $12.33 and a 1-year high of $16.29.

Chicago Atlantic Real Estate Finance Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be issued a $0.47 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 14.6%. Chicago Atlantic Real Estate Finance’s dividend payout ratio (DPR) is currently 102.73%.

Hedge Funds Weigh In On Chicago Atlantic Real Estate Finance

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Tidal Investments LLC boosted its stake in Chicago Atlantic Real Estate Finance by 6.8% in the second quarter. Tidal Investments LLC now owns 32,737 shares of the company’s stock valued at $457,000 after acquiring an additional 2,078 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in Chicago Atlantic Real Estate Finance by 63.9% in the second quarter. BNP Paribas Financial Markets now owns 8,111 shares of the company’s stock valued at $113,000 after acquiring an additional 3,163 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in Chicago Atlantic Real Estate Finance by 4.6% in the second quarter. The Manufacturers Life Insurance Company now owns 23,275 shares of the company’s stock valued at $325,000 after acquiring an additional 1,031 shares during the last quarter. Transce3nd LLC bought a new position in Chicago Atlantic Real Estate Finance in the second quarter valued at approximately $47,000. Finally, EverSource Wealth Advisors LLC boosted its stake in Chicago Atlantic Real Estate Finance by 3,041.1% in the second quarter. EverSource Wealth Advisors LLC now owns 6,722 shares of the company’s stock valued at $94,000 after acquiring an additional 6,508 shares during the last quarter. 25.48% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Zacks Research lowered shares of Chicago Atlantic Real Estate Finance from a “hold” rating to a “strong sell” rating in a report on Thursday, August 21st. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $20.00.

Chicago Atlantic Real Estate Finance Company Profile

Chicago Atlantic Real Estate Finance, Inc operates as a commercial real estate finance company in the United States. The company engages in originating, structuring, and investing in first mortgage loans and alternative structured financings secured by commercial real estate properties. Its portfolio primarily includes offers senior loans to state-licensed operators in the cannabis industry.