Chicago Atlantic Real Estate Finance (NASDAQ:REFI) Posts Quarterly Earnings Results, Misses Expectations By $0.05 EPS

Chicago Atlantic Real Estate Finance (NASDAQ:REFI) posted its quarterly earnings results on Tuesday. The company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.05), FiscalAI reports. The company had revenue of $12.61 million during the quarter, compared to analyst estimates of $14.17 million. Chicago Atlantic Real Estate Finance had a net margin of 55.54% and a return on equity of 11.98%.

Chicago Atlantic Real Estate Finance Price Performance

NASDAQ REFI opened at $10.19 on Tuesday. The company has a market cap of $216.07 million, a P/E ratio of 7.09 and a beta of 0.24. The stock has a 50-day moving average of $10.71 and a two-hundred day moving average of $11.47. Chicago Atlantic Real Estate Finance has a 1-year low of $9.69 and a 1-year high of $14.57.

Chicago Atlantic Real Estate Finance Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 18.5%. The ex-dividend date of this dividend was Tuesday, June 30th. Chicago Atlantic Real Estate Finance’s payout ratio is currently 130.56%.

Analyst Ratings Changes

Several analysts have issued reports on the company. Zacks Research cut Chicago Atlantic Real Estate Finance from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 4th. Weiss Ratings cut shares of Chicago Atlantic Real Estate Finance from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, June 16th. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Chicago Atlantic Real Estate Finance has a consensus rating of “Reduce” and an average target price of $14.00.

Institutional Trading of Chicago Atlantic Real Estate Finance

Hedge funds have recently modified their holdings of the stock. Strs Ohio acquired a new position in Chicago Atlantic Real Estate Finance during the 1st quarter worth $47,000. Russell Investments Group Ltd. boosted its stake 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 buying an additional 803 shares during the period. Garton & Associates Financial Advisors LLC acquired a new position in shares of Chicago Atlantic Real Estate Finance during the fourth quarter worth about $53,000. EverSource Wealth Advisors LLC grew its position in shares of 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 worth $94,000 after buying an additional 6,508 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its stake in shares of Chicago Atlantic Real Estate Finance by 63.9% during the second quarter. BNP Paribas Financial Markets now owns 8,111 shares of the company’s stock worth $113,000 after buying an additional 3,163 shares during the period. 25.48% of the stock is currently owned by institutional investors and hedge funds.

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.