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

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

Chicago Atlantic Real Estate Finance stock traded down $0.06 during midday trading on Friday, reaching $16.07. 167,529 shares of the stock were exchanged, compared to its average volume of 45,835. Chicago Atlantic Real Estate Finance has a 52 week low of $15.50 and a 52 week high of $20.29. The firm has a fifty day simple moving average of $17.58.

The company also recently announced a quarterly dividend, which was paid on Thursday, April 14th. Investors of record on Thursday, March 31st were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 9.96%. The ex-dividend date was Wednesday, March 30th.

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

In related news, Director Jason D. Papastavrou acquired 3,000 shares of Chicago Atlantic Real Estate Finance stock in a transaction dated Monday, April 25th. The shares were purchased at an average price of $17.91 per share, for a total transaction of $53,730.00. Following the completion of the transaction, the director now directly owns 15,012 shares in the company, valued at approximately $268,864.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jason D. Papastavrou purchased 2,324 shares of Chicago Atlantic Real Estate Finance stock in a transaction that occurred on Friday, April 22nd. The stock was acquired at an average price of $17.94 per share, for a total transaction of $41,692.56. Following the transaction, the director now directly 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 REFI. BlackRock Inc. acquired a new position in shares of Chicago Atlantic Real Estate Finance during the first quarter valued at about $5,183,000. Vanguard Group Inc. purchased a new stake in Chicago Atlantic Real Estate Finance in the 1st quarter worth approximately $5,087,000. Millennium Management LLC purchased a new position in shares of Chicago Atlantic Real Estate Finance during the 4th quarter valued at approximately $2,546,000. Northern Trust Corp purchased a new position in shares of Chicago Atlantic Real Estate Finance during the 1st quarter valued at approximately $910,000. Finally, Goldman Sachs Group Inc. acquired a new position in Chicago Atlantic Real Estate Finance in the 4th quarter valued at $522,000. Institutional investors and hedge funds own 17.40% of the company’s stock.

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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