Chicago Atlantic Real Estate Finance, Inc. (REFI) To Go Ex-Dividend on September 30th

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) announced a quarterly dividend on Wednesday, September 16th. Stockholders of record on Wednesday, September 30th will be paid a dividend of 0.47 per share on Thursday, October 15th. This represents a c) annualized dividend and a dividend yield of 16.9%. The ex-dividend date is Wednesday, September 30th.

Chicago Atlantic Real Estate Finance has a dividend payout ratio of 90.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Research analysts expect Chicago Atlantic Real Estate Finance to earn $1.80 per share next year, which means the company may not be able to cover its $1.88 annual dividend with an expected future payout ratio of 104.4%.

Chicago Atlantic Real Estate Finance Stock Up 1.3%

REFI stock opened at $11.15 on Friday. The business has a 50 day moving average price of $10.51 and a 200 day moving average price of $11.19. The stock has a market cap of $285.66 million, a price-to-earnings ratio of 8.14 and a beta of 0.26. Chicago Atlantic Real Estate Finance has a fifty-two week low of $9.69 and a fifty-two week high of $13.72.

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

Insider Buying and Selling at Chicago Atlantic Real Estate Finance

In other Chicago Atlantic Real Estate Finance news, CEO Peter Sack bought 3,500 shares of Chicago Atlantic Real Estate Finance stock in a transaction dated Wednesday, August 19th. The stock was bought at an average cost of $10.45 per share, for a total transaction of $36,575.00. Following the purchase, the chief executive officer owned 123,356 shares in the company, valued at $1,289,070.20. This represents a 2.92% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Anthony Cappell purchased 45,000 shares of the firm’s stock in a transaction dated Monday, August 17th. The shares were bought at an average cost of $10.40 per share, with a total value of $468,000.00. Following the transaction, the chief executive officer directly owned 466,706 shares of the company’s stock, valued at approximately $4,853,742.40. This represents a 10.67% increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 122,856 shares of company stock valued at $1,287,094 in the last three months. Corporate insiders own 6.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Empowered Funds LLC acquired a new stake in shares of Chicago Atlantic Real Estate Finance in the 2nd quarter valued at about $213,000. Corient Private Wealth LP acquired a new position in Chicago Atlantic Real Estate Finance in the second quarter worth about $1,637,000. Bank of America Corp DE bought a new stake in Chicago Atlantic Real Estate Finance in the second quarter valued at about $151,000. Odyssean LLC increased its holdings in Chicago Atlantic Real Estate Finance by 387.8% in the second quarter. Odyssean LLC now owns 63,292 shares of the company’s stock valued at $678,000 after buying an additional 50,317 shares during the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new stake in Chicago Atlantic Real Estate Finance during the second quarter valued at approximately $248,000. 25.48% of the stock is owned by institutional investors and hedge funds.

About Chicago Atlantic Real Estate Finance

Chicago Atlantic Real Estate Finance, Inc is a specialty finance company organized as a real estate investment trust. The company originates, underwrites and manages commercial real estate debt investments, with a primary focus on providing financing to businesses operating in the state-legal cannabis industry.

Its investment activities are centered on senior secured loans, including mortgage loans backed by commercial real estate and other assets. These financings are designed to support cannabis cultivation, processing, retail and related properties, as well as other commercial real estate borrowers.