Peter Sack Buys 3,500 Shares of Chicago Atlantic Real Estate Finance (NASDAQ:REFI) Stock

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) CEO Peter Sack purchased 3,500 shares of the stock in a transaction dated Wednesday, August 19th. The shares were purchased at an average price of $10.45 per share, for a total transaction of $36,575.00. Following the completion of the transaction, the chief executive officer owned 123,356 shares in the company, valued at $1,289,070.20. This trade represents a 2.92% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Peter Sack also recently made the following trade(s):

• On Tuesday, August 18th, Peter Sack bought 1,500 shares of Chicago Atlantic Real Estate Finance stock. The shares were purchased at an average cost of $10.43 per share, with a total value of $15,645.00.

Chicago Atlantic Real Estate Finance Stock Up 1.6%

NASDAQ:REFI opened at $10.78 on Friday. The business’s 50-day moving average price is $10.55 and its 200 day moving average price is $11.36. Chicago Atlantic Real Estate Finance, Inc. has a 52-week low of $9.69 and a 52-week high of $14.57. The firm has a market cap of $276.18 million, a P/E ratio of 7.87 and a beta of 0.24.

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

Chicago Atlantic Real Estate Finance Dividend Announcement

The firm also recently announced 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. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $1.88 annualized dividend and a yield of 17.4%. Chicago Atlantic Real Estate Finance’s dividend payout ratio is currently 137.23%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Strs Ohio purchased a new position in shares of Chicago Atlantic Real Estate Finance in the first quarter worth approximately $47,000. Russell Investments Group Ltd. boosted its stake in 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 worth $50,000 after purchasing an additional 803 shares during the period. Garton & Associates Financial Advisors LLC acquired a new position in Chicago Atlantic Real Estate Finance in the 4th quarter worth approximately $53,000. PNC Financial Services Group Inc. grew its position in Chicago Atlantic Real Estate Finance by 290.3% during the 1st 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 grew its position in Chicago Atlantic Real Estate Finance by 3,041.1% during the 2nd 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 currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

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.