Ritholtz Wealth Management purchased a new position in shares of Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI – Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,652 shares of the company’s stock, valued at approximately $161,000. Ritholtz Wealth Management owned approximately 0.06% of Chicago Atlantic Real Estate Finance at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of REFI. Sage Mountain Advisors LLC raised its holdings in shares of Chicago Atlantic Real Estate Finance by 197.6% in the first quarter. Sage Mountain Advisors LLC now owns 56,588 shares of the company’s stock valued at $765,000 after purchasing an additional 37,574 shares during the last quarter. AdvisorShares Investments LLC purchased a new stake in Chicago Atlantic Real Estate Finance in the 1st quarter valued at about $1,019,000. Emfo LLC lifted its position in shares of Chicago Atlantic Real Estate Finance by 5.3% during the 1st quarter. Emfo LLC now owns 300,659 shares of the company’s stock worth $4,062,000 after buying an additional 15,000 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Chicago Atlantic Real Estate Finance by 45.9% in the 1st quarter. Nisa Investment Advisors LLC now owns 7,944 shares of the company’s stock worth $107,000 after buying an additional 2,500 shares during the last quarter. Finally, Dumont & Blake Investment Advisors LLC purchased a new position in shares of Chicago Atlantic Real Estate Finance in the 1st quarter worth approximately $152,000. 25.73% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
REFI has been the subject of a number of research analyst reports. Piper Sandler initiated coverage on Chicago Atlantic Real Estate Finance in a research report on Friday, September 1st. They set a “neutral” rating and a $16.00 price target for the company. Compass Point cut Chicago Atlantic Real Estate Finance from a “buy” rating to a “neutral” rating and set a $16.00 target price on the stock. in a research note on Tuesday, September 5th. Finally, JMP Securities reissued a “market outperform” rating and issued a $20.00 price target on shares of Chicago Atlantic Real Estate Finance in a report on Tuesday, August 15th.
Chicago Atlantic Real Estate Finance Trading Up 0.1 %
Shares of NASDAQ REFI opened at $14.72 on Friday. The firm has a market cap of $267.46 million, a price-to-earnings ratio of 7.25 and a beta of 0.07. The stock has a fifty day simple moving average of $15.07 and a two-hundred day simple moving average of $14.68. Chicago Atlantic Real Estate Finance, Inc. has a 1-year low of $12.91 and a 1-year high of $16.50.
Chicago Atlantic Real Estate Finance (NASDAQ:REFI – Get Free Report) last posted its quarterly earnings results on Wednesday, August 9th. The company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.10). Chicago Atlantic Real Estate Finance had a return on equity of 14.02% and a net margin of 61.75%. The firm had revenue of $14.66 million for the quarter, compared to the consensus estimate of $15.78 million. During the same quarter in the previous year, the company posted $0.50 EPS. Analysts forecast that Chicago Atlantic Real Estate Finance, Inc. will post 2.21 EPS for the current year.
Chicago Atlantic Real Estate Finance Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be given a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 12.77%. The ex-dividend date is Thursday, September 28th. Chicago Atlantic Real Estate Finance’s dividend payout ratio (DPR) is currently 92.61%.
About Chicago Atlantic Real Estate Finance
Chicago Atlantic Real Estate Finance, Inc operates as a commercial real estate finance company in the United States. It originates, structures, and invests in first mortgage loans and alternative structured financings secured by commercial real estate properties. The company offers senior loans to state-licensed operators in the cannabis industry.
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