Everett Harris & Co. CA Sells 6,000 Shares of Chicago Atlantic Real Estate Finance, Inc. $REFI

Everett Harris & Co. CA trimmed its position in shares of Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) by 24.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,500 shares of the company’s stock after selling 6,000 shares during the period. Everett Harris & Co. CA owned approximately 0.09% of Chicago Atlantic Real Estate Finance worth $258,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the company. Larson Financial Group LLC increased its position in shares of Chicago Atlantic Real Estate Finance by 269.2% during the first quarter. Larson Financial Group LLC now owns 2,920 shares of the company’s stock valued at $43,000 after purchasing an additional 2,129 shares during the period. Strs Ohio acquired a new stake in Chicago Atlantic Real Estate Finance during the first quarter worth $47,000. Quantbot Technologies LP increased its holdings in Chicago Atlantic Real Estate Finance by 182.3% in the 1st quarter. Quantbot Technologies LP now owns 7,428 shares of the company’s stock valued at $109,000 after buying an additional 4,797 shares during the period. Ascent Group LLC acquired a new position in shares of Chicago Atlantic Real Estate Finance in the 1st quarter valued at $185,000. Finally, Invesco Ltd. bought a new position in shares of Chicago Atlantic Real Estate Finance during the 1st quarter worth about $185,000. Institutional investors own 25.48% of the company’s stock.

Chicago Atlantic Real Estate Finance Trading Down 0.9%

REFI opened at $12.82 on Thursday. Chicago Atlantic Real Estate Finance, Inc. has a 1-year low of $12.00 and a 1-year high of $16.29. The stock has a market capitalization of $270.25 million, a PE ratio of 7.59 and a beta of 0.21. The firm has a 50-day moving average price of $13.06 and a two-hundred day moving average price of $13.78.

Chicago Atlantic Real Estate Finance Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were given a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 14.7%. The ex-dividend date was Tuesday, September 30th. Chicago Atlantic Real Estate Finance’s payout ratio is 111.24%.

Insider Activity

In other news, Director Brandon Konigsberg purchased 7,000 shares of the business’s stock in a transaction dated Tuesday, October 14th. The shares were acquired at an average price of $12.33 per share, with a total value of $86,310.00. Following the completion of the purchase, the director directly owned 27,546 shares of the company’s stock, valued at $339,642.18. The trade was a 34.07% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman John Mazarakis purchased 8,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 16th. The stock was purchased at an average price of $12.75 per share, for a total transaction of $102,000.00. Following the acquisition, the chairman owned 416,607 shares of the company’s stock, valued at $5,311,739.25. The trade was a 1.96% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have acquired 51,150 shares of company stock worth $641,415. 8.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on REFI. Weiss Ratings reissued a “hold (c-)” rating on shares of Chicago Atlantic Real Estate Finance in a research note on Wednesday, October 8th. Zacks Research lowered Chicago Atlantic Real Estate Finance from a “hold” rating to a “strong sell” rating in a research note on Monday. Finally, Oppenheimer set a $14.00 target price on Chicago Atlantic Real Estate Finance in a research report on Thursday, November 6th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $18.00.

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.