Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) Declares Quarterly Dividend of $0.47

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) announced a quarterly dividend on Wednesday, June 17th. Shareholders of record on Tuesday, June 30th will be given a dividend of 0.47 per share on Wednesday, July 15th. This represents a c) dividend on an annualized basis and a yield of 16.9%. The ex-dividend date of this dividend is Tuesday, June 30th.

Chicago Atlantic Real Estate Finance has a dividend payout ratio of 90.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research analysts expect Chicago Atlantic Real Estate Finance to earn $1.80 per share next year, which means the company may not be able to cover its $1.88 annual dividend with an expected future payout ratio of 104.4%.

Chicago Atlantic Real Estate Finance Price Performance

REFI opened at $11.11 on Thursday. The business has a 50 day simple moving average of $11.56 and a two-hundred day simple moving average of $12.05. The firm has a market capitalization of $235.64 million, a price-to-earnings ratio of 7.72 and a beta of 0.23. Chicago Atlantic Real Estate Finance has a one year low of $10.74 and a one year high of $14.59.

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

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Weiss Ratings downgraded Chicago Atlantic Real Estate Finance from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday. Zacks Research downgraded Chicago Atlantic Real Estate Finance from a “strong-buy” rating to a “hold” rating in a report on Friday, May 15th. Finally, Oppenheimer downgraded Chicago Atlantic Real Estate Finance from an “outperform” rating to a “market perform” rating in a report on Monday, March 16th. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $14.00.

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.