Insider Buying: Chicago Atlantic Real Estate Finance (NASDAQ:REFI) Director Acquires $86,310.00 in Stock

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) Director Brandon Konigsberg purchased 7,000 shares of the company’s stock in a transaction dated Tuesday, October 14th. The shares were acquired at an average price of $12.33 per share, for a total transaction of $86,310.00. Following the purchase, the director directly owned 27,546 shares of the company’s stock, valued at approximately $339,642.18. The trade was a 34.07% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link.

Chicago Atlantic Real Estate Finance Stock Up 6.2%

REFI opened at $13.22 on Friday. The company has a market cap of $278.68 million, a P/E ratio of 7.22 and a beta of 0.21. The firm’s 50-day moving average price is $13.49 and its 200-day moving average price is $13.89. Chicago Atlantic Real Estate Finance, Inc. has a 52-week low of $12.00 and a 52-week high of $16.29.

Chicago Atlantic Real Estate Finance Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were issued a $0.47 dividend. 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 (DPR) is currently 102.73%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on REFI shares. Zacks Research raised shares of Chicago Atlantic Real Estate Finance from a “strong sell” rating to a “hold” rating in a 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 research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Chicago Atlantic Real Estate Finance currently has a consensus rating of “Moderate Buy” and an average target price of $20.00.

Institutional Trading of Chicago Atlantic Real Estate Finance

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. CWM LLC lifted its position in Chicago Atlantic Real Estate Finance by 79.3% during the third quarter. CWM LLC now owns 2,160 shares of the company’s stock valued at $28,000 after purchasing an additional 955 shares during the period. Larson Financial Group LLC raised its stake in shares of Chicago Atlantic Real Estate Finance by 269.2% during the 1st quarter. Larson Financial Group LLC now owns 2,920 shares of the company’s stock valued at $43,000 after buying an additional 2,129 shares during the last quarter. Transce3nd LLC acquired a new position in shares of Chicago Atlantic Real Estate Finance in the 2nd quarter valued at about $47,000. Strs Ohio acquired a new position in shares of Chicago Atlantic Real Estate Finance in the 1st quarter valued at about $47,000. Finally, Russell Investments Group Ltd. boosted its stake in shares of Chicago Atlantic Real Estate Finance by 29.2% in the second quarter. Russell Investments Group Ltd. now owns 3,552 shares of the company’s stock worth $50,000 after buying an additional 803 shares during the last quarter. Institutional investors and hedge funds own 25.48% of the company’s stock.

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.