Insider Buying: Chicago Atlantic Real Estate Finance (NASDAQ:REFI) CEO Acquires $15,645.00 in Stock

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) CEO Peter Sack purchased 1,500 shares of the company’s stock in a transaction on Tuesday, August 18th. The stock was acquired at an average price of $10.43 per share, with a total value of $15,645.00. Following the purchase, the chief executive officer owned 119,856 shares of the company’s stock, valued at approximately $1,250,098.08. This represents a 1.27% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Peter Sack also recently made the following trade(s):

• On Wednesday, August 19th, Peter Sack acquired 3,500 shares of Chicago Atlantic Real Estate Finance stock. The stock was bought at an average price of $10.45 per share, for a total transaction of $36,575.00.

Chicago Atlantic Real Estate Finance Trading Up 0.8%

NASDAQ:REFI traded up $0.08 during midday trading on Friday, reaching $10.69. The company had a trading volume of 102,355 shares, compared to its average volume of 158,440. Chicago Atlantic Real Estate Finance, Inc. has a 12-month low of $9.69 and a 12-month high of $14.57. The firm has a market capitalization of $273.88 million, a price-to-earnings ratio of 7.80 and a beta of 0.24. The stock’s fifty day simple moving average is $10.56 and its 200-day simple moving average is $11.36.

Chicago Atlantic Real Estate Finance (NASDAQ:REFI) last posted its quarterly earnings results on Tuesday, August 11th. The company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.05). The company had revenue of $12.61 million during the quarter, compared to analyst estimates of $14.17 million. Chicago Atlantic Real Estate Finance had a net margin of 54.57% and a return on equity of 11.53%. As a group, sell-side analysts expect that Chicago Atlantic Real Estate Finance, Inc. will post 1.72 EPS for the current year.

Chicago Atlantic Real Estate Finance Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a $0.47 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $1.88 annualized dividend and a yield of 17.6%. Chicago Atlantic Real Estate Finance’s dividend payout ratio (DPR) is 137.23%.

Institutional Trading of Chicago Atlantic Real Estate Finance

Institutional investors have recently modified their holdings of the stock. Empowered Funds LLC purchased a new position in shares of Chicago Atlantic Real Estate Finance in the 2nd quarter valued at $213,000. Corient Private Wealth LP acquired a new stake in Chicago Atlantic Real Estate Finance during the 2nd quarter worth $1,637,000. Bank of America Corp DE purchased a new stake in Chicago Atlantic Real Estate Finance in the second quarter valued at $151,000. Odyssean LLC purchased a new stake in Chicago Atlantic Real Estate Finance in the second quarter valued at $678,000. Finally, The Manufacturers Life Insurance Company acquired a new position in Chicago Atlantic Real Estate Finance in the second quarter valued at $248,000. Hedge funds and other institutional investors own 25.48% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Atlantic Securities set a $16.00 price target on shares of Chicago Atlantic Real Estate Finance in a report on Wednesday, August 12th. Weiss Ratings raised shares of Chicago Atlantic Real Estate Finance from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, August 11th. Citigroup reiterated a “market outperform” rating on shares of Chicago Atlantic Real Estate Finance in a research note on Wednesday, August 12th. Zacks Research lowered Chicago Atlantic Real Estate Finance from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 4th. Finally, Citizens Jmp decreased their price target on Chicago Atlantic Real Estate Finance from $18.00 to $16.00 and set a “market outperform” rating for the company in a report on Wednesday, August 12th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Chicago Atlantic Real Estate Finance has an average rating of “Hold” and a consensus target price of $15.33.

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.