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

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) declared a quarterly dividend on Monday, September 18th, Zacks reports. Shareholders of record on Friday, September 29th will be given a dividend of 0.47 per share on Friday, October 13th. This represents a $1.88 annualized dividend and a yield of 12.18%. The ex-dividend date of this dividend is Thursday, September 28th.

Chicago Atlantic Real Estate Finance Stock Performance

Shares of REFI opened at $15.44 on Tuesday. Chicago Atlantic Real Estate Finance has a fifty-two week low of $12.91 and a fifty-two week high of $16.50. The company has a market capitalization of $280.54 million, a price-to-earnings ratio of 7.61 and a beta of 0.07. The firm has a 50-day simple moving average of $15.08 and a 200-day simple moving average of $14.61.

Chicago Atlantic Real Estate Finance (NASDAQ:REFI) last posted its quarterly earnings results on Wednesday, August 9th. The company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.10). The firm had revenue of $14.66 million for the quarter, compared to analysts’ expectations of $15.78 million. Chicago Atlantic Real Estate Finance had a return on equity of 14.02% and a net margin of 61.75%. During the same period in the prior year, the company earned $0.50 earnings per share. Equities research analysts forecast that Chicago Atlantic Real Estate Finance will post 2.21 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on REFI shares. JMP Securities reaffirmed a “market outperform” rating and issued a $20.00 target price on shares of Chicago Atlantic Real Estate Finance in a report on Tuesday, August 15th. Piper Sandler started coverage on shares of Chicago Atlantic Real Estate Finance in a report on Friday, September 1st. They issued a “neutral” rating and a $16.00 target price for the company. Finally, Compass Point cut shares of Chicago Atlantic Real Estate Finance from a “buy” rating to a “neutral” rating and set a $16.00 target price for the company. in a report on Tuesday, September 5th.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Royal Bank of Canada purchased a new position in shares of Chicago Atlantic Real Estate Finance during the 1st quarter worth approximately $28,000. UBS Group AG acquired a new stake in Chicago Atlantic Real Estate Finance during the fourth quarter worth approximately $25,000. California State Teachers Retirement System acquired a new stake in Chicago Atlantic Real Estate Finance during the first quarter worth approximately $45,000. JPMorgan Chase & Co. acquired a new stake in Chicago Atlantic Real Estate Finance during the first quarter worth approximately $50,000. Finally, Barclays PLC boosted its position in Chicago Atlantic Real Estate Finance by 92.7% during the first quarter. Barclays PLC now owns 2,818 shares of the company’s stock worth $38,000 after acquiring an additional 1,356 shares during the last quarter. 25.73% of the stock is owned by hedge funds and other institutional investors.

About Chicago Atlantic Real Estate Finance

Chicago Atlantic Real Estate Finance, Inc operates as a commercial real estate finance company in the United States. It originates, structures, and invests in first mortgage loans and alternative structured financings secured by commercial real estate properties. The company offers senior loans to state-licensed operators in the cannabis industry.