Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) Announces $0.47 Quarterly Dividend

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) declared a quarterly dividend on Friday, December 20th,RTT News reports. Investors of record on Tuesday, December 31st will be paid a dividend of 0.47 per share on Monday, January 13th. This represents a $1.88 annualized dividend and a yield of 11.76%.

Chicago Atlantic Real Estate Finance has a payout ratio of 86.2% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities analysts expect Chicago Atlantic Real Estate Finance to earn $1.94 per share next year, which means the company should continue to be able to cover its $1.88 annual dividend with an expected future payout ratio of 96.9%.

Chicago Atlantic Real Estate Finance Trading Up 1.2 %

Shares of REFI stock opened at $15.98 on Friday. 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.

Insider Activity at Chicago Atlantic Real Estate Finance

In related news, insider John Mazarakis bought 2,779 shares of Chicago Atlantic Real Estate Finance stock in a transaction on Friday, November 8th. The shares were purchased at an average price of $15.82 per share, for a total transaction of $43,963.78. Following the completion of the acquisition, the insider now owns 372,709 shares in the company, valued at approximately $5,896,256.38. This represents a 0.75 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 12.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

REFI has been the topic of a number of recent research reports. Alliance Global Partners assumed coverage on Chicago Atlantic Real Estate Finance in a research report on Tuesday. They issued a “buy” rating and a $20.00 price objective on the stock. JMP Securities reiterated a “market outperform” rating and issued a $20.00 price target on shares of Chicago Atlantic Real Estate Finance in a report on Thursday.

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.