Chicago Atlantic Real Estate Finance, Inc. Declares Quarterly Dividend of $0.47 (NASDAQ:REFI)

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) declared a quarterly dividend on Friday, December 19th. Shareholders of record on Wednesday, December 31st will be paid a dividend of 0.47 per share on Thursday, January 15th. This represents a c) annualized dividend and a yield of 14.5%. The ex-dividend date is Wednesday, December 31st.

Chicago Atlantic Real Estate Finance has a payout ratio of 90.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Analysts expect Chicago Atlantic Real Estate Finance to earn $1.94 per share next year, which means the company should continue to be able to cover its $1.88 annual dividend with an expected future payout ratio of 96.9%.

Chicago Atlantic Real Estate Finance Stock Performance

Shares of Chicago Atlantic Real Estate Finance stock traded down $0.18 on Friday, reaching $12.99. 410,050 shares of the company’s stock were exchanged, compared to its average volume of 130,222. The company has a market capitalization of $273.83 million, a P/E ratio of 7.69 and a beta of 0.22. Chicago Atlantic Real Estate Finance has a 52 week low of $11.85 and a 52 week high of $16.29. The firm’s 50-day moving average is $12.78 and its two-hundred day moving average is $13.42.

Chicago Atlantic Real Estate Finance (NASDAQ:REFI) last released its quarterly earnings data on Tuesday, November 4th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.03. Chicago Atlantic Real Estate Finance had a net margin of 64.78% and a return on equity of 11.94%. The company had revenue of $13.69 million during the quarter, compared to analyst estimates of $13.97 million. On average, analysts expect that Chicago Atlantic Real Estate Finance will post 1.9 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on REFI. Oppenheimer set a $14.00 price target on shares of Chicago Atlantic Real Estate Finance in a research note on Thursday, November 6th. Zacks Research downgraded Chicago Atlantic Real Estate Finance from a “hold” rating to a “strong sell” rating in a research note on Monday, November 10th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Chicago Atlantic Real Estate Finance in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $14.00.

Chicago Atlantic Real Estate Finance Company Profile

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.