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Perritt Capital Management Inc. reduced its holdings in Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI – Free Report) by 2.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,831 shares of the company’s stock after selling 2,003 shares during the quarter. Perritt Capital Management Inc. owned approximately 0.44% of Chicago Atlantic Real Estate Finance worth $1,065,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Bank of New York Mellon Corp boosted its stake in Chicago Atlantic Real Estate Finance by 4.2% in the third quarter. Bank of New York Mellon Corp now owns 18,528 shares of the company’s stock worth $267,000 after purchasing an additional 739 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Chicago Atlantic Real Estate Finance by 30.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,667 shares of the company’s stock worth $55,000 after buying an additional 857 shares in the last quarter. Bank of America Corp DE grew its holdings in Chicago Atlantic Real Estate Finance by 17.3% during the 4th quarter. Bank of America Corp DE now owns 6,839 shares of the company’s stock worth $103,000 after acquiring an additional 1,009 shares during the last quarter. Barclays PLC increased its position in Chicago Atlantic Real Estate Finance by 92.7% in the 1st quarter. Barclays PLC now owns 2,818 shares of the company’s stock valued at $38,000 after acquiring an additional 1,356 shares in the last quarter. Finally, Royal Bank of Canada bought a new position in shares of Chicago Atlantic Real Estate Finance in the first quarter worth about $28,000. 25.73% of the stock is currently owned by institutional investors.
Chicago Atlantic Real Estate Finance Price Performance
Shares of REFI stock traded up $0.06 during trading hours on Thursday, reaching $15.22. The company had a trading volume of 19,717 shares, compared to its average volume of 82,216. Chicago Atlantic Real Estate Finance, Inc. has a 1-year low of $12.91 and a 1-year high of $16.50. The firm has a market cap of $276.55 million, a price-to-earnings ratio of 7.54 and a beta of 0.07. The company has a 50 day moving average of $15.08 and a 200 day moving average of $14.59.
Chicago Atlantic Real Estate Finance (NASDAQ:REFI – Get Free Report) last released its 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 net margin of 61.75% and a return on equity of 14.02%. The company had revenue of $14.66 million during the quarter, compared to analyst estimates of $15.78 million. During the same period in the previous year, the company posted $0.50 EPS. As a group, sell-side analysts forecast that Chicago Atlantic Real Estate Finance, Inc. will post 2.21 EPS for the current fiscal year.
Chicago Atlantic Real Estate Finance Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Friday, June 30th were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 12.35%. The ex-dividend date of this dividend was Thursday, June 29th. Chicago Atlantic Real Estate Finance’s payout ratio is 92.61%.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on REFI. Compass Point lowered shares of Chicago Atlantic Real Estate Finance from a “buy” rating to a “neutral” rating and set a $16.00 price target for the company. in a report on Tuesday. 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 Tuesday, August 15th. Finally, Piper Sandler initiated coverage on Chicago Atlantic Real Estate Finance in a report on Friday, September 1st. They set a “neutral” rating and a $16.00 price objective for the company.
Get Our Latest Analysis on REFI
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.
Further Reading
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