Chicago Atlantic Real Estate Finance, Inc. (REFI) to Issue Quarterly Dividend of $0.47 on January 13th

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) announced a quarterly dividend on Friday, December 20th,RTT News reports. Shareholders of record on Tuesday, December 31st will be paid a dividend of 0.47 per share on Monday, January 13th. This represents a $1.88 dividend on an annualized basis and a yield of 11.76%.

Chicago Atlantic Real Estate Finance has a dividend payout ratio of 86.2% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities analysts expect Chicago Atlantic Real Estate Finance to earn $1.94 per share next year, which means the company should continue to be able to cover its $1.88 annual dividend with an expected future payout ratio of 96.9%.

Chicago Atlantic Real Estate Finance Stock Performance

Chicago Atlantic Real Estate Finance stock opened at $15.98 on Friday. The stock’s 50 day moving average price is $15.76 and its two-hundred day moving average price is $15.70. The stock has a market capitalization of $313.75 million, a price-to-earnings ratio of 7.99 and a beta of 0.23. Chicago Atlantic Real Estate Finance has a 52-week low of $14.82 and a 52-week high of $17.65.

Insiders Place Their Bets

In related news, insider John Mazarakis bought 2,779 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were bought at an average price of $15.82 per share, with a total value of $43,963.78. Following the completion of the transaction, the insider now directly owns 372,709 shares in the company, valued at approximately $5,896,256.38. This represents a 0.75 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 12.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on REFI. Alliance Global Partners initiated coverage on shares of Chicago Atlantic Real Estate Finance in a report on Tuesday, December 17th. They issued a “buy” rating and a $20.00 price target for the company. JMP Securities reiterated a “market outperform” rating and issued a $20.00 price target on shares of Chicago Atlantic Real Estate Finance in a report on Thursday.

About Chicago Atlantic Real Estate Finance

Chicago Atlantic Real Estate Finance, Inc operates as a commercial real estate finance company in the United States. The company engages in originating, structuring, and investing in first mortgage loans and alternative structured financings secured by commercial real estate properties. Its portfolio primarily includes offers senior loans to state-licensed operators in the cannabis industry.