Chicago Atlantic Real Estate Finance (NASDAQ:REFI) Downgraded by Zacks Research to “Hold”

Zacks Research lowered shares of Chicago Atlantic Real Estate Finance (NASDAQ:REFI) from a strong-buy rating to a hold rating in a research report released on Tuesday,Zacks.com reports.

Separately, Weiss Ratings cut shares of Chicago Atlantic Real Estate Finance from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, June 16th. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $14.00.

Chicago Atlantic Real Estate Finance Stock Down 0.7%

Chicago Atlantic Real Estate Finance stock opened at $9.93 on Tuesday. Chicago Atlantic Real Estate Finance has a 12-month low of $9.69 and a 12-month high of $14.57. The business’s 50-day moving average price is $10.78 and its two-hundred day moving average price is $11.52. The stock has a market cap of $210.62 million, a PE ratio of 6.90 and a beta of 0.24.

Chicago Atlantic Real Estate Finance (NASDAQ:REFI) last issued its earnings results on Thursday, May 7th. The company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.02). Chicago Atlantic Real Estate Finance had a return on equity of 11.98% and a net margin of 55.54%.The business had revenue of $12.92 million for the quarter, compared to analyst estimates of $13.69 million. As a group, analysts expect that Chicago Atlantic Real Estate Finance will post 1.72 earnings per share for the current year.

Chicago Atlantic Real Estate Finance Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 18.9%. The ex-dividend date was Tuesday, June 30th. Chicago Atlantic Real Estate Finance’s dividend payout ratio is 130.56%.

Institutional Trading of Chicago Atlantic Real Estate Finance

Several institutional investors have recently modified their holdings of the business. Jane Street Group LLC bought a new position in Chicago Atlantic Real Estate Finance during the 1st quarter worth $186,000. Strs Ohio acquired a new stake in shares of Chicago Atlantic Real Estate Finance in the first quarter valued at about $47,000. Geode Capital Management LLC raised its position in shares of Chicago Atlantic Real Estate Finance by 8.5% during the second quarter. Geode Capital Management LLC now owns 18,367 shares of the company’s stock worth $257,000 after acquiring an additional 1,446 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of Chicago Atlantic Real Estate Finance by 12.7% in the second quarter. Rhumbline Advisers now owns 26,513 shares of the company’s stock worth $370,000 after acquiring an additional 2,993 shares during the period. Finally, Russell Investments Group Ltd. lifted its stake in shares of Chicago Atlantic Real Estate Finance by 29.2% in the second quarter. Russell Investments Group Ltd. now owns 3,552 shares of the company’s stock worth $50,000 after acquiring an additional 803 shares during the period. Institutional investors own 25.48% of the company’s stock.

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.