Chicago Atlantic Real Estate Finance (NASDAQ:REFI) Issues Earnings Results, Beats Expectations By $0.02 EPS

Chicago Atlantic Real Estate Finance (NASDAQ:REFI – Get Rating) posted its quarterly earnings data on Thursday. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.02, MarketWatch Earnings reports.

NASDAQ:REFI traded down $0.06 during mid-day trading on Friday, hitting $16.07. 167,529 shares of the stock traded hands, compared to its average volume of 45,835. The firm’s 50-day moving average is $17.58. Chicago Atlantic Real Estate Finance has a 12-month low of $15.50 and a 12-month high of $20.29.

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 14th. Stockholders of record on Thursday, March 31st were paid a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, March 30th. This represents a $1.60 annualized dividend and a dividend yield of 9.96%.

In other news, Director Jason D. Papastavrou acquired 3,000 shares of Chicago Atlantic Real Estate Finance stock in a transaction that occurred on Monday, April 25th. The stock was bought at an average price of $17.91 per share, with a total value of $53,730.00. Following the completion of the purchase, the director now owns 15,012 shares in the company, valued at $268,864.92. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jason D. Papastavrou acquired 2,324 shares of Chicago Atlantic Real Estate Finance stock in a transaction that occurred on Friday, April 22nd. The shares were purchased at an average cost of $17.94 per share, with a total value of $41,692.56. Following the purchase, the director now owns 12,012 shares of the company’s stock, valued at approximately $215,495.28. The disclosure for this purchase can be found here.

A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. bought a new stake in Chicago Atlantic Real Estate Finance during the first quarter valued at approximately $5,183,000. Vanguard Group Inc. bought a new stake in Chicago Atlantic Real Estate Finance during the first quarter valued at approximately $5,087,000. Millennium Management LLC bought a new stake in Chicago Atlantic Real Estate Finance during the fourth quarter valued at approximately $2,546,000. Northern Trust Corp bought a new stake in Chicago Atlantic Real Estate Finance during the first quarter valued at approximately $910,000. Finally, Goldman Sachs Group Inc. bought a new stake in Chicago Atlantic Real Estate Finance during the fourth quarter valued at approximately $522,000. Institutional investors and hedge funds own 17.40% of the company’s stock.

Several equities analysts have recently weighed in on the stock. Oppenheimer lifted their target price on shares of Chicago Atlantic Real Estate Finance to $18.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 23rd. JMP Securities reiterated a “buy” rating and issued a $26.00 target price on shares of Chicago Atlantic Real Estate Finance in a research note on Wednesday, March 23rd. Finally, Zacks Investment Research downgraded shares of Chicago Atlantic Real Estate Finance from a “hold” rating to a “sell” rating in a research note on Friday, March 25th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $22.25.

About Chicago Atlantic Real Estate Finance (Get Rating)

Chicago Atlantic Real Estate Finance, Inc operates as a commercial real estate finance company in the United States. It originates, structures, and invests in first mortgage loans and alternative structured financings secured by commercial real estate properties. The company offers senior loans to state-licensed operators and property owners in the cannabis industry.

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