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

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) CEO Peter Sack acquired 3,500 shares of Chicago Atlantic Real Estate Finance stock in a transaction on Wednesday, August 19th. The shares were purchased at an average price of $10.45 per share, with a total value of $36,575.00. Following the completion of the purchase, the chief executive officer owned 123,356 shares in the company, valued at $1,289,070.20. This represents a 2.92% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 stock was acquired at an average cost of $10.43 per share, with a total value of $15,645.00.

Chicago Atlantic Real Estate Finance Stock Performance

NASDAQ REFI opened at $10.78 on Friday. Chicago Atlantic Real Estate Finance, Inc. has a one year low of $9.69 and a one year high of $14.57. The stock has a 50-day moving average of $10.55 and a 200 day moving average of $11.36. The company has a market capitalization of $276.19 million, a price-to-earnings ratio of 7.87 and a beta of 0.24.

Chicago Atlantic Real Estate Finance (NASDAQ:REFI) last announced its 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 company had revenue of $12.61 million for the quarter, compared to analysts’ expectations of $14.17 million. On average, equities analysts predict that Chicago Atlantic Real Estate Finance, Inc. will post 1.72 earnings per share for the current fiscal year.

Chicago Atlantic Real Estate Finance Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued 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 payout ratio is currently 137.23%.

Analysts Set New Price Targets

REFI has been the subject of several recent analyst reports. Zacks Research downgraded Chicago Atlantic Real Estate Finance from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. Atlantic Securities set a $16.00 price objective on shares of Chicago Atlantic Real Estate Finance in a research report on Wednesday, August 12th. Weiss Ratings raised shares of Chicago Atlantic Real Estate Finance from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, August 11th. Citigroup restated a “market outperform” rating on shares of Chicago Atlantic Real Estate Finance in a research report on Wednesday, August 12th. Finally, Citizens Jmp cut their target price on shares of Chicago Atlantic Real Estate Finance from $18.00 to $16.00 and set a “market outperform” rating for the company in a research note on Wednesday, August 12th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $15.33.

Institutional Trading of Chicago Atlantic Real Estate Finance

A number of large investors have recently made changes to their positions in REFI. Jane Street Group LLC bought a new position in shares of Chicago Atlantic Real Estate Finance in the 1st quarter valued at about $186,000. Strs Ohio bought a new stake in Chicago Atlantic Real Estate Finance during the first quarter worth approximately $47,000. Geode Capital Management LLC raised its position in Chicago Atlantic Real Estate Finance by 8.5% during the second quarter. Geode Capital Management LLC now owns 18,367 shares of the company’s stock valued at $257,000 after purchasing an additional 1,446 shares during the period. Rhumbline Advisers raised its position in Chicago Atlantic Real Estate Finance by 12.7% during the second quarter. Rhumbline Advisers now owns 26,513 shares of the company’s stock valued at $370,000 after purchasing an additional 2,993 shares during the period. Finally, Russell Investments Group Ltd. lifted 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 purchasing an additional 803 shares during the last quarter. 25.48% of the stock is currently owned by institutional investors.

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.