Chicago Atlantic Real Estate Finance (NASDAQ:REFI) Upgraded by Zacks Research to “Strong-Buy” Rating

Chicago Atlantic Real Estate Finance (NASDAQ:REFI) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Thursday,Zacks.com reports.

Separately, Oppenheimer lowered Chicago Atlantic Real Estate Finance from an “outperform” rating to a “market perform” rating in a research report on Monday, March 16th. One analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $14.00.

Chicago Atlantic Real Estate Finance Price Performance

Chicago Atlantic Real Estate Finance stock opened at $12.34 on Thursday. The firm has a 50-day moving average of $12.23 and a 200-day moving average of $12.67. Chicago Atlantic Real Estate Finance has a one year low of $11.62 and a one year high of $15.49. The company has a market cap of $260.13 million, a price-to-earnings ratio of 7.35 and a beta of 0.22.

Chicago Atlantic Real Estate Finance (NASDAQ:REFI) last released its earnings results on Thursday, March 12th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.01. Chicago Atlantic Real Estate Finance had a return on equity of 11.94% and a net margin of 65.01%.The business had revenue of $14.24 million for the quarter, compared to the consensus estimate of $14.20 million. As a group, sell-side analysts expect that Chicago Atlantic Real Estate Finance will post 1.9 earnings per share for the current year.

Institutional Investors Weigh In On Chicago Atlantic Real Estate Finance

Institutional investors and hedge funds have recently modified their holdings of the company. Jane Street Group LLC acquired a new stake in Chicago Atlantic Real Estate Finance in the 1st quarter valued at about $186,000. Strs Ohio acquired a new position in Chicago Atlantic Real Estate Finance during the first quarter worth approximately $47,000. Geode Capital Management LLC increased its position in Chicago Atlantic Real Estate Finance by 8.5% during the second quarter. Geode Capital Management LLC now owns 18,367 shares of the company’s stock worth $257,000 after buying an additional 1,446 shares during the last quarter. Rhumbline Advisers raised its stake in Chicago Atlantic Real Estate Finance by 12.7% in the second quarter. Rhumbline Advisers now owns 26,513 shares of the company’s stock valued at $370,000 after buying an additional 2,993 shares during the period. Finally, Russell Investments Group Ltd. lifted its position 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 valued at $50,000 after buying an additional 803 shares during the last quarter. 25.48% of the stock is owned by institutional investors.

Chicago Atlantic Real Estate Finance Company Profile

Chicago Atlantic Real Estate Finance, Inc (NASDAQ:REFI) is a publicly listed real estate finance company that specializes in originating and acquiring commercial real estate debt. Pursuant to its election to be treated as a real estate investment trust (REIT), REFI’s investment strategy focuses on floating-rate senior mortgage loans secured by income-producing properties across the United States. The company targets stabilized, performing assets in sectors such as multifamily, office, retail and industrial, aiming to generate attractive risk-adjusted returns through current income.

Established in 2015 and headquartered in Chicago, Illinois, REFI completed its initial public offering in 2019.