Chicago Atlantic Real Estate Finance (NASDAQ:REFI) Now Covered by Alliance Global Partners

Alliance Global Partners started coverage on shares of Chicago Atlantic Real Estate Finance (NASDAQ:REFI) in a research note issued to investors on Tuesday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $20.00 price target on the stock.

Chicago Atlantic Real Estate Finance Stock Up 0.2 %

Chicago Atlantic Real Estate Finance stock opened at $15.79 on Tuesday. Chicago Atlantic Real Estate Finance has a 12 month low of $14.82 and a 12 month high of $17.65. The company’s fifty day simple moving average is $15.75 and its 200-day simple moving average is $15.70. The stock has a market cap of $310.02 million, a P/E ratio of 7.90 and a beta of 0.23.

Insiders Place Their Bets

In other news, insider John Mazarakis purchased 2,779 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was acquired at an average price of $15.82 per share, with a total value of $43,963.78. Following the purchase, the insider now owns 372,709 shares in the company, valued at $5,896,256.38. This represents a 0.75 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 12.30% of the company’s stock.

Hedge Funds Weigh In On Chicago Atlantic Real Estate Finance

Several hedge funds and other institutional investors have recently added to or reduced their stakes in REFI. Commonwealth Equity Services LLC grew its position in Chicago Atlantic Real Estate Finance by 2.5% in the second quarter. Commonwealth Equity Services LLC now owns 37,337 shares of the company’s stock worth $574,000 after acquiring an additional 909 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Chicago Atlantic Real Estate Finance by 6.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 21,684 shares of the company’s stock valued at $336,000 after purchasing an additional 1,349 shares in the last quarter. Rhumbline Advisers lifted its stake in shares of Chicago Atlantic Real Estate Finance by 7.7% in the 2nd quarter. Rhumbline Advisers now owns 23,754 shares of the company’s stock valued at $365,000 after purchasing an additional 1,689 shares during the last quarter. Martingale Asset Management L P boosted its holdings in Chicago Atlantic Real Estate Finance by 10.4% in the third quarter. Martingale Asset Management L P now owns 18,045 shares of the company’s stock worth $280,000 after purchasing an additional 1,703 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in Chicago Atlantic Real Estate Finance by 17.5% during the second quarter. Renaissance Technologies LLC now owns 36,300 shares of the company’s stock worth $558,000 after buying an additional 5,400 shares during the last quarter. Institutional investors own 25.48% of the company’s stock.

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.