Chicago Atlantic Real Estate Finance (NASDAQ:REFI) Rating Lowered to “Market Perform” at Oppenheimer

Chicago Atlantic Real Estate Finance (NASDAQ:REFI) was downgraded by research analysts at Oppenheimer from an “outperform” rating to a “market perform” rating in a report issued on Monday.

Separately, Zacks Research upgraded shares of Chicago Atlantic Real Estate Finance from a “strong sell” rating to a “hold” rating in a research report on Monday, January 5th. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $14.00.

Chicago Atlantic Real Estate Finance Trading Up 1.8%

Shares of NASDAQ:REFI traded up $0.22 during mid-day trading on Monday, hitting $12.31. 144,833 shares of the company traded hands, compared to its average volume of 126,043. Chicago Atlantic Real Estate Finance has a 12-month low of $11.62 and a 12-month high of $15.67. The stock has a 50-day moving average price of $12.22 and a two-hundred day moving average price of $12.72. The stock has a market cap of $259.45 million, a P/E ratio of 7.31 and a beta of 0.22.

Chicago Atlantic Real Estate Finance (NASDAQ:REFI) last posted its quarterly earnings results on Thursday, March 12th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.01. Chicago Atlantic Real Estate Finance had a return on equity of 11.94% and a net margin of 65.01%.The company had revenue of $14.24 million during the quarter, compared to the consensus estimate of $14.20 million. As a group, analysts expect that Chicago Atlantic Real Estate Finance will post 1.9 earnings per share for the current year.

Institutional Investors Weigh In On Chicago Atlantic Real Estate Finance

Several large investors have recently modified their holdings of the business. Clayton Partners LLC acquired a new stake in Chicago Atlantic Real Estate Finance in the third quarter worth about $1,765,000. State of Wyoming increased its stake in shares of Chicago Atlantic Real Estate Finance by 118.3% in the third quarter. State of Wyoming now owns 8,631 shares of the company’s stock worth $110,000 after acquiring an additional 4,677 shares during the period. CWM LLC lifted its holdings in shares of Chicago Atlantic Real Estate Finance by 79.3% in the 3rd quarter. CWM LLC now owns 2,160 shares of the company’s stock valued at $28,000 after buying an additional 955 shares during the period. Alliancebernstein L.P. boosted its position in Chicago Atlantic Real Estate Finance by 7.5% in the 3rd quarter. Alliancebernstein L.P. now owns 21,410 shares of the company’s stock worth $274,000 after purchasing an additional 1,500 shares in the last quarter. Finally, Wells Fargo & Company MN grew its position in Chicago Atlantic Real Estate Finance by 46.2% during the fourth quarter. Wells Fargo & Company MN now owns 20,352 shares of the company’s stock valued at $250,000 after buying an additional 6,433 shares during the period. Institutional investors own 25.48% of the company’s stock.

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.