Chicago Atlantic Real Estate Finance (NASDAQ:REFI) COO Buys $30,775.00 in Stock

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) COO David Kite acquired 2,500 shares of the business’s stock in a transaction dated Tuesday, October 14th. The shares were bought at an average cost of $12.31 per share, for a total transaction of $30,775.00. Following the transaction, the chief operating officer directly owned 57,016 shares of the company’s stock, valued at approximately $701,866.96. This trade represents a 4.59% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Chicago Atlantic Real Estate Finance Trading Up 6.2%

Chicago Atlantic Real Estate Finance stock opened at $13.22 on Friday. Chicago Atlantic Real Estate Finance, Inc. has a twelve month low of $12.00 and a twelve month high of $16.29. The stock’s fifty day simple moving average is $13.49 and its 200-day simple moving average is $13.89. The firm has a market capitalization of $278.68 million, a P/E ratio of 7.22 and a beta of 0.21.

Chicago Atlantic Real Estate Finance Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 14.2%. Chicago Atlantic Real Estate Finance’s dividend payout ratio is currently 102.73%.

Hedge Funds Weigh In On Chicago Atlantic Real Estate Finance

Several large investors have recently bought and sold shares of the business. Fielder Capital Group LLC increased its holdings in Chicago Atlantic Real Estate Finance by 2.6% in the second quarter. Fielder Capital Group LLC now owns 771,503 shares of the company’s stock valued at $10,770,000 after buying an additional 19,883 shares during the last quarter. Sage Mountain Advisors LLC increased its holdings in Chicago Atlantic Real Estate Finance by 5.4% in the second quarter. Sage Mountain Advisors LLC now owns 163,808 shares of the company’s stock valued at $2,287,000 after buying an additional 8,400 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Chicago Atlantic Real Estate Finance by 88.1% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 114,198 shares of the company’s stock valued at $1,679,000 after buying an additional 53,498 shares during the last quarter. Doliver Advisors LP boosted its stake in Chicago Atlantic Real Estate Finance by 28.8% in the third quarter. Doliver Advisors LP now owns 103,758 shares of the company’s stock valued at $1,327,000 after acquiring an additional 23,170 shares in the last quarter. Finally, HighTower Advisors LLC boosted its stake in Chicago Atlantic Real Estate Finance by 4.3% in the first quarter. HighTower Advisors LLC now owns 81,929 shares of the company’s stock valued at $1,204,000 after acquiring an additional 3,363 shares in the last quarter. Hedge funds and other institutional investors own 25.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Zacks Research raised Chicago Atlantic Real Estate Finance from a “strong sell” rating to a “hold” rating in a research report on Friday, October 10th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Chicago Atlantic Real Estate Finance in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.00.

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.