Citizens Jmp Cuts Chicago Atlantic Real Estate Finance (NASDAQ:REFI) Price Target to $16.00

Chicago Atlantic Real Estate Finance (NASDAQ:REFI) had its target price reduced by Citizens Jmp from $18.00 to $16.00 in a report issued on Wednesday, MarketBeat Ratings reports. They currently have a market outperform rating on the stock.

REFI has been the subject of several other reports. Zacks Research downgraded Chicago Atlantic Real Estate Finance from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 4th. Weiss Ratings cut Chicago Atlantic Real Estate Finance from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, June 16th. Citigroup restated a “market outperform” rating on shares of Chicago Atlantic Real Estate Finance in a report on Wednesday. Finally, Atlantic Securities set a $16.00 price objective on shares of Chicago Atlantic Real Estate Finance in a research note on Wednesday. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Chicago Atlantic Real Estate Finance presently has a consensus rating of “Hold” and an average target price of $15.33.

Chicago Atlantic Real Estate Finance Stock Performance

NASDAQ REFI opened at $10.15 on Wednesday. Chicago Atlantic Real Estate Finance has a 1 year low of $9.69 and a 1 year high of $14.57. The business’s fifty day moving average is $10.63 and its two-hundred day moving average is $11.42. The stock has a market capitalization of $260.04 million, a P/E ratio of 7.41 and a beta of 0.24.

Chicago Atlantic Real Estate Finance (NASDAQ:REFI) last released its quarterly earnings data on Tuesday, August 11th. The company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.05). The company had revenue of $12.61 million for the quarter, compared to the consensus estimate of $14.17 million. Chicago Atlantic Real Estate Finance had a return on equity of 11.53% and a net margin of 54.57%. On average, research analysts forecast that Chicago Atlantic Real Estate Finance will post 1.72 earnings per share for the current year.

Chicago Atlantic Real Estate Finance Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.47 per share. The ex-dividend date was Tuesday, June 30th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 18.5%. Chicago Atlantic Real Estate Finance’s payout ratio is currently 137.23%.

Institutional Investors Weigh In On Chicago Atlantic Real Estate Finance

Several hedge funds have recently bought and sold shares of the business. Strs Ohio acquired a new stake in Chicago Atlantic Real Estate Finance during the 1st quarter worth about $47,000. Russell Investments Group Ltd. increased its holdings in shares of Chicago Atlantic Real Estate Finance by 29.2% in the 2nd quarter. Russell Investments Group Ltd. now owns 3,552 shares of the company’s stock valued at $50,000 after purchasing an additional 803 shares during the period. Garton & Associates Financial Advisors LLC acquired a new position in shares of Chicago Atlantic Real Estate Finance in the 4th quarter valued at about $53,000. PNC Financial Services Group Inc. lifted its position in shares of Chicago Atlantic Real Estate Finance by 290.3% in the first quarter. PNC Financial Services Group Inc. now owns 6,183 shares of the company’s stock worth $70,000 after purchasing an additional 4,599 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Chicago Atlantic Real Estate Finance by 3,041.1% in the second quarter. EverSource Wealth Advisors LLC now owns 6,722 shares of the company’s stock worth $94,000 after purchasing an additional 6,508 shares in the last quarter. 25.48% of the stock is owned by hedge funds and other 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.