Chicago Atlantic Real Estate Finance (NASDAQ:REFI) Given Market Outperform Rating at JMP Securities

JMP Securities reaffirmed their market outperform rating on shares of Chicago Atlantic Real Estate Finance (NASDAQ:REFI) in a report issued on Thursday morning,Benzinga reports. The firm currently has a $20.00 price target on the stock.

Separately, Alliance Global Partners assumed coverage on shares of Chicago Atlantic Real Estate Finance in a research report on Tuesday, December 17th. They set a “buy” rating and a $20.00 price objective for the company.

Chicago Atlantic Real Estate Finance Stock Performance

Shares of REFI opened at $15.98 on Thursday. The stock has a 50 day simple moving average of $15.76 and a 200 day simple moving average of $15.70. Chicago Atlantic Real Estate Finance has a 52-week low of $14.82 and a 52-week high of $17.65. The firm has a market capitalization of $313.75 million, a PE ratio of 7.99 and a beta of 0.23.

Chicago Atlantic Real Estate Finance Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Tuesday, December 31st will be given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 11.76%. Chicago Atlantic Real Estate Finance’s dividend payout ratio is presently 94.00%.

Insiders Place Their Bets

In other Chicago Atlantic Real Estate Finance news, insider John Mazarakis purchased 2,779 shares of the stock in a transaction on Friday, November 8th. The shares were purchased at an average cost of $15.82 per share, for a total transaction of $43,963.78. Following the purchase, the insider now owns 372,709 shares of the company’s stock, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 12.30% of the company’s stock.

Hedge Funds Weigh In On Chicago Atlantic Real Estate Finance

Several hedge funds have recently modified their holdings of REFI. Janus Henderson Group PLC bought a new stake in Chicago Atlantic Real Estate Finance during the third quarter worth about $160,000. Townsquare Capital LLC acquired a new stake in shares of Chicago Atlantic Real Estate Finance in the 3rd quarter valued at approximately $162,000. Doliver Advisors LP bought a new position in shares of Chicago Atlantic Real Estate Finance in the third quarter valued at $171,000. Martingale Asset Management L P increased its holdings in Chicago Atlantic Real Estate Finance by 10.4% during the third quarter. Martingale Asset Management L P now owns 18,045 shares of the company’s stock worth $280,000 after buying an additional 1,703 shares during the last quarter. Finally, United Advisor Group LLC bought a new stake in Chicago Atlantic Real Estate Finance during the third quarter worth $319,000. Institutional investors own 25.48% of the company’s stock.

Chicago Atlantic Real Estate Finance Company Profile

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.