Chicago Atlantic Real Estate Finance’s (REFI) “Market Outperform” Rating Reiterated at JMP Securities

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

Separately, Alliance Global Partners started coverage on Chicago Atlantic Real Estate Finance in a research report on Tuesday, December 17th. They issued a “buy” rating and a $20.00 price objective on the stock.

Chicago Atlantic Real Estate Finance Trading Up 1.2 %

Shares of REFI stock opened at $15.98 on Thursday. The firm has a market capitalization of $313.75 million, a price-to-earnings ratio of 7.99 and a beta of 0.23. The firm’s 50 day moving average is $15.76 and its 200-day moving average is $15.70. Chicago Atlantic Real Estate Finance has a 1 year low of $14.82 and a 1 year high of $17.65.

Chicago Atlantic Real Estate Finance Announces Dividend

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

Insider Transactions at Chicago Atlantic Real Estate Finance

In other Chicago Atlantic Real Estate Finance news, insider John Mazarakis acquired 2,779 shares of Chicago Atlantic Real Estate Finance stock in a transaction on Friday, November 8th. The shares were purchased at an average cost of $15.82 per share, with a total value of $43,963.78. Following the completion of the purchase, the insider now owns 372,709 shares in the company, valued at $5,896,256.38. The trade was a 0.75 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 12.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in REFI. Fielder Capital Group LLC bought a new stake in Chicago Atlantic Real Estate Finance in the second quarter valued at about $8,412,000. Tidal Investments LLC increased its stake in shares of Chicago Atlantic Real Estate Finance by 21.4% in the 3rd quarter. Tidal Investments LLC now owns 485,610 shares of the company’s stock valued at $7,532,000 after acquiring an additional 85,481 shares during the last quarter. Sage Mountain Advisors LLC raised its position in shares of Chicago Atlantic Real Estate Finance by 83.4% in the 2nd quarter. Sage Mountain Advisors LLC now owns 133,467 shares of the company’s stock valued at $2,050,000 after acquiring an additional 60,682 shares during the period. State Street Corp boosted its stake in Chicago Atlantic Real Estate Finance by 15.1% during the 3rd quarter. State Street Corp now owns 400,790 shares of the company’s stock worth $6,403,000 after acquiring an additional 52,497 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in Chicago Atlantic Real Estate Finance by 315.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 68,677 shares of the company’s stock valued at $1,065,000 after purchasing an additional 52,134 shares during the period. Institutional investors and hedge funds 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.