Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) Short Interest Down 18.0% in January

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) was the target of a significant drop in short interest in January. As of January 31st, there was short interest totalling 263,800 shares, a drop of 18.0% from the January 15th total of 321,900 shares. Currently, 1.6% of the shares of the stock are sold short. Based on an average daily volume of 127,400 shares, the days-to-cover ratio is currently 2.1 days.

Chicago Atlantic Real Estate Finance Trading Up 1.6 %

Shares of NASDAQ REFI opened at $16.00 on Friday. The stock’s 50-day moving average is $15.65 and its 200 day moving average is $15.65. The stock has a market cap of $314.08 million, a price-to-earnings ratio of 8.00 and a beta of 0.23. Chicago Atlantic Real Estate Finance has a 1-year low of $14.82 and a 1-year high of $16.49.

Chicago Atlantic Real Estate Finance Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Tuesday, December 31st were issued a $0.47 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 11.75%. Chicago Atlantic Real Estate Finance’s payout ratio is 94.00%.

Institutional Investors Weigh In On Chicago Atlantic Real Estate Finance

A number of institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. lifted its stake in Chicago Atlantic Real Estate Finance by 169.2% in the third quarter. JPMorgan Chase & Co. now owns 34,074 shares of the company’s stock worth $528,000 after purchasing an additional 21,415 shares during the last quarter. State Street Corp increased its holdings in shares of Chicago Atlantic Real Estate Finance by 15.1% in the third quarter. State Street Corp now owns 400,790 shares of the company’s stock worth $6,403,000 after buying an additional 52,497 shares during the period. Magnus Financial Group LLC bought a new stake in shares of Chicago Atlantic Real Estate Finance in the 4th quarter valued at about $508,000. Barclays PLC boosted its holdings in Chicago Atlantic Real Estate Finance by 271.9% during the 3rd quarter. Barclays PLC now owns 22,143 shares of the company’s stock valued at $343,000 after acquiring an additional 16,189 shares during the period. Finally, Catalina Capital Group LLC bought a new position in Chicago Atlantic Real Estate Finance during the 4th quarter worth approximately $253,000. Hedge funds and other institutional investors own 25.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on REFI. JMP Securities reissued a “market outperform” rating and issued a $20.00 price target on shares of Chicago Atlantic Real Estate Finance in a report on Thursday, December 19th. Alliance Global Partners assumed coverage on shares of Chicago Atlantic Real Estate Finance in a research report on Tuesday, December 17th. They issued a “buy” rating and a $20.00 target price for the company.

Chicago Atlantic Real Estate Finance Company Profile

Chicago Atlantic Real Estate Finance, Inc operates as a commercial real estate finance company in the United States. The company engages in originating, structuring, and investing in first mortgage loans and alternative structured financings secured by commercial real estate properties. Its portfolio primarily includes offers senior loans to state-licensed operators in the cannabis industry.