Chicago Atlantic Real Estate Finance (NASDAQ:REFI) Downgraded to “Strong Sell” Rating by Zacks Research

Zacks Research cut shares of Chicago Atlantic Real Estate Finance (NASDAQ:REFI) from a hold rating to a strong sell rating in a research report sent to investors on Monday,Zacks.com reports.

Several other analysts have also commented on REFI. Oppenheimer set a $14.00 price target on Chicago Atlantic Real Estate Finance in a research note on Thursday, November 6th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Chicago Atlantic Real Estate Finance in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Chicago Atlantic Real Estate Finance currently has an average rating of “Hold” and an average price target of $18.00.

Chicago Atlantic Real Estate Finance Stock Performance

Shares of REFI stock opened at $12.95 on Monday. The firm has a fifty day moving average of $13.09 and a 200-day moving average of $13.78. Chicago Atlantic Real Estate Finance has a 52-week low of $12.00 and a 52-week high of $16.29. The stock has a market cap of $272.88 million, a price-to-earnings ratio of 7.66 and a beta of 0.21.

Chicago Atlantic Real Estate Finance Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 14.5%. The ex-dividend date of this dividend was Tuesday, September 30th. Chicago Atlantic Real Estate Finance’s dividend payout ratio is 111.24%.

Insider Transactions at Chicago Atlantic Real Estate Finance

In other news, Director Brandon Konigsberg purchased 7,000 shares of the business’s stock in a transaction dated Tuesday, October 14th. The shares were acquired at an average price of $12.33 per share, with a total value of $86,310.00. Following the completion of the purchase, the director directly owned 27,546 shares of the company’s stock, valued at $339,642.18. The trade was a 34.07% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO David Kite acquired 2,500 shares of the stock in a transaction that occurred on Tuesday, October 14th. The stock was purchased at an average price of $12.31 per share, with a total value of $30,775.00. Following the completion of the transaction, the chief operating officer owned 57,016 shares of the company’s stock, valued at approximately $701,866.96. This trade represents a 4.59% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased a total of 51,150 shares of company stock worth $641,415 over the last ninety days. 8.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Chicago Atlantic Real Estate Finance

Institutional investors have recently modified their holdings of the business. CWM LLC lifted its holdings in Chicago Atlantic Real Estate Finance by 79.3% in the third quarter. CWM LLC now owns 2,160 shares of the company’s stock valued at $28,000 after buying an additional 955 shares during the period. Larson Financial Group LLC grew its position in shares of Chicago Atlantic Real Estate Finance by 269.2% during the 1st quarter. Larson Financial Group LLC now owns 2,920 shares of the company’s stock worth $43,000 after buying an additional 2,129 shares during the period. Strs Ohio bought a new stake in shares of Chicago Atlantic Real Estate Finance in the 1st quarter valued at about $47,000. Transce3nd LLC acquired a new stake in shares of Chicago Atlantic Real Estate Finance in the 2nd quarter valued at approximately $47,000. Finally, Russell Investments Group Ltd. boosted its stake in Chicago Atlantic Real Estate Finance by 29.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 3,552 shares of the company’s stock worth $50,000 after acquiring an additional 803 shares during the last quarter. Institutional investors and hedge funds 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.