Peter Sack Purchases 3,500 Shares of Chicago Atlantic Real Estate Finance (NASDAQ:REFI) Stock

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) CEO Peter Sack purchased 3,500 shares of the firm’s stock in a transaction on Wednesday, August 19th. The shares were purchased at an average cost of $10.45 per share, with a total value of $36,575.00. Following the completion of the transaction, the chief executive officer owned 123,356 shares of the company’s stock, valued at approximately $1,289,070.20. The trade was a 2.92% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Peter Sack also recently made the following trade(s):

• On Tuesday, August 18th, Peter Sack purchased 1,500 shares of Chicago Atlantic Real Estate Finance stock. The stock was purchased at an average cost of $10.43 per share, for a total transaction of $15,645.00.

Chicago Atlantic Real Estate Finance Stock Performance

NASDAQ:REFI traded up $0.08 during mid-day trading on Friday, hitting $10.69. 102,355 shares of the company’s stock traded hands, compared to its average volume of 158,440. The company has a fifty day moving average of $10.56 and a 200 day moving average of $11.36. The company has a market capitalization of $273.88 million, a P/E ratio of 7.80 and a beta of 0.24. Chicago Atlantic Real Estate Finance, Inc. has a twelve month low of $9.69 and a twelve month high of $14.57.

Chicago Atlantic Real Estate Finance (NASDAQ:REFI) last announced its quarterly earnings data on Tuesday, August 11th. The company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.05). Chicago Atlantic Real Estate Finance had a net margin of 54.57% and a return on equity of 11.53%. The firm had revenue of $12.61 million during the quarter, compared to analyst estimates of $14.17 million. On average, research analysts expect that Chicago Atlantic Real Estate Finance, Inc. will post 1.72 earnings per share for the current fiscal year.

Chicago Atlantic Real Estate Finance Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a $0.47 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 17.6%. Chicago Atlantic Real Estate Finance’s payout ratio is 137.23%.

Analyst Upgrades and Downgrades

REFI has been the subject of a number of research reports. Weiss Ratings raised shares of Chicago Atlantic Real Estate Finance from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, August 11th. Zacks Research lowered shares of Chicago Atlantic Real Estate Finance from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. Citigroup reissued a “market outperform” rating on shares of Chicago Atlantic Real Estate Finance in a research note on Wednesday, August 12th. Atlantic Securities set a $16.00 target price on shares of Chicago Atlantic Real Estate Finance in a report on Wednesday, August 12th. Finally, Citizens Jmp lowered their price objective on Chicago Atlantic Real Estate Finance from $18.00 to $16.00 and set a “market outperform” rating for the company in a research report on Wednesday, August 12th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $15.33.

Institutional Investors Weigh In On Chicago Atlantic Real Estate Finance

Hedge funds have recently made changes to their positions in the business. Russell Investments Group Ltd. increased its position in shares of Chicago Atlantic Real Estate Finance by 29.2% during the second quarter. Russell Investments Group Ltd. now owns 3,552 shares of the company’s stock worth $50,000 after acquiring an additional 803 shares in the last quarter. Osaic Holdings Inc. grew its holdings in shares of Chicago Atlantic Real Estate Finance by 1.0% in the 4th quarter. Osaic Holdings Inc. now owns 84,478 shares of the company’s stock valued at $1,036,000 after acquiring an additional 862 shares in the last quarter. Commonwealth Equity Services LLC raised its stake in shares of Chicago Atlantic Real Estate Finance by 1.8% during the 4th quarter. Commonwealth Equity Services LLC now owns 49,895 shares of the company’s stock worth $612,000 after purchasing an additional 897 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Chicago Atlantic Real Estate Finance by 4.6% in the second quarter. The Manufacturers Life Insurance Company now owns 23,275 shares of the company’s stock valued at $325,000 after acquiring an additional 1,031 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Chicago Atlantic Real Estate Finance by 8.5% during the second quarter. Geode Capital Management LLC now owns 18,367 shares of the company’s stock worth $257,000 after purchasing an additional 1,446 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 (NASDAQ:REFI) is a publicly listed real estate finance company that specializes in originating and acquiring commercial real estate debt. Pursuant to its election to be treated as a real estate investment trust (REIT), REFI’s investment strategy focuses on floating-rate senior mortgage loans secured by income-producing properties across the United States. The company targets stabilized, performing assets in sectors such as multifamily, office, retail and industrial, aiming to generate attractive risk-adjusted returns through current income.

Established in 2015 and headquartered in Chicago, Illinois, REFI completed its initial public offering in 2019.