Chicago Atlantic Real Estate Finance (NASDAQ:REFI) Chairman John Mazarakis Buys 25,000 Shares

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) Chairman John Mazarakis purchased 25,000 shares of Chicago Atlantic Real Estate Finance stock in a transaction dated Monday, August 17th. The stock was bought at an average cost of $10.25 per share, with a total value of $256,250.00. Following the completion of the transaction, the chairman owned 478,706 shares in the company, valued at approximately $4,906,736.50. This represents a 5.51% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website.

Chicago Atlantic Real Estate Finance Price Performance

Shares of REFI stock opened at $10.59 on Thursday. Chicago Atlantic Real Estate Finance, Inc. has a 1-year low of $9.69 and a 1-year high of $14.57. The stock’s 50-day moving average is $10.58 and its 200 day moving average is $11.37. The company has a market cap of $271.32 million, a P/E ratio of 7.73 and a beta of 0.24.

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

Chicago Atlantic Real Estate Finance Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 17.8%. The ex-dividend date was Tuesday, June 30th. Chicago Atlantic Real Estate Finance’s payout ratio is 137.23%.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Weiss Ratings raised shares of Chicago Atlantic Real Estate Finance from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, August 11th. Atlantic Securities set a $16.00 price objective on Chicago Atlantic Real Estate Finance in a research report on Wednesday, August 12th. Zacks Research downgraded Chicago Atlantic Real Estate Finance from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. Citizens Jmp reduced their target price on Chicago Atlantic Real Estate Finance from $18.00 to $16.00 and set a “market outperform” rating on the stock in a research report on Wednesday, August 12th. Finally, Citigroup reiterated a “market outperform” rating on shares of Chicago Atlantic Real Estate Finance in a research note on Wednesday, August 12th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Chicago Atlantic Real Estate Finance presently has a consensus rating of “Hold” and an average target price of $15.33.

Institutional Investors Weigh In On Chicago Atlantic Real Estate Finance

A number of large investors have recently made changes to their positions in REFI. Jane Street Group LLC acquired a new position in shares of Chicago Atlantic Real Estate Finance in the 1st quarter valued at $186,000. Strs Ohio acquired a new stake in Chicago Atlantic Real Estate Finance during the 1st quarter worth about $47,000. Geode Capital Management LLC grew its stake in Chicago Atlantic Real Estate Finance by 8.5% during the 2nd quarter. Geode Capital Management LLC now owns 18,367 shares of the company’s stock valued at $257,000 after purchasing an additional 1,446 shares during the last quarter. Rhumbline Advisers grew its stake in Chicago Atlantic Real Estate Finance by 12.7% during the 2nd quarter. Rhumbline Advisers now owns 26,513 shares of the company’s stock valued at $370,000 after purchasing an additional 2,993 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its holdings 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 purchasing an additional 803 shares during the period. 25.48% of the stock is owned by hedge funds and other institutional investors.

About Chicago Atlantic Real Estate Finance

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.