Chicago Atlantic Real Estate Finance (NASDAQ:REFI) Stock Rating Lowered by Zacks Research

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

Separately, Weiss Ratings cut Chicago Atlantic Real Estate Finance from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, June 16th. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Chicago Atlantic Real Estate Finance presently has an average rating of “Reduce” and a consensus target price of $14.00.

Chicago Atlantic Real Estate Finance Stock Down 0.7%

Shares of Chicago Atlantic Real Estate Finance stock opened at $9.93 on Tuesday. Chicago Atlantic Real Estate Finance has a twelve month low of $9.69 and a twelve month high of $14.57. The company’s 50 day moving average is $10.78 and its 200 day moving average is $11.52. The company has a market cap of $210.62 million, a price-to-earnings ratio of 6.90 and a beta of 0.24.

Chicago Atlantic Real Estate Finance (NASDAQ:REFI) last announced its earnings results on Thursday, May 7th. The company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). Chicago Atlantic Real Estate Finance had a net margin of 55.54% and a return on equity of 11.98%. The company had revenue of $12.92 million for the quarter, compared to analysts’ expectations of $13.69 million. Sell-side analysts expect that Chicago Atlantic Real Estate Finance will post 1.72 EPS for the current fiscal year.

Institutional Trading of Chicago Atlantic Real Estate Finance

Institutional investors have recently made changes to their positions in the business. Strs Ohio purchased a new stake in Chicago Atlantic Real Estate Finance in the 1st quarter worth $47,000. 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 worth $50,000 after purchasing an additional 803 shares during the last quarter. Garton & Associates Financial Advisors LLC purchased a new stake in shares of Chicago Atlantic Real Estate Finance in the fourth quarter worth 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 buying an additional 4,599 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in Chicago Atlantic Real Estate Finance by 3,041.1% during the second quarter. EverSource Wealth Advisors LLC now owns 6,722 shares of the company’s stock valued at $94,000 after buying an additional 6,508 shares during the last quarter. Hedge funds and other institutional investors own 25.48% of the company’s stock.

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.