Chicago Atlantic Real Estate Finance’s (NASDAQ:REFI – Get Rating) lock-up period is set to end on Monday, June 6th. Chicago Atlantic Real Estate Finance had issued 6,250,000 shares in its public offering on December 8th. The total size of the offering was $100,000,000 based on an initial share price of $16.00. After the expiration of Chicago Atlantic Real Estate Finance’s lock-up period, restrictions preventing company insiders and major shareholders from selling shares in the company will be lifted.
A number of research firms have weighed in on REFI. Zacks Investment Research lowered shares of Chicago Atlantic Real Estate Finance from a “hold” rating to a “sell” rating in a research note on Friday, March 25th. JMP Securities reissued a “buy” rating and set a $26.00 price target on shares of Chicago Atlantic Real Estate Finance in a research report on Wednesday, March 23rd. Finally, Oppenheimer raised their price target on shares of Chicago Atlantic Real Estate Finance to $18.00 and gave the company an “outperform” rating in a research report on Wednesday, March 23rd. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $22.25.
REFI opened at $17.00 on Monday. The stock has a 50-day simple moving average of $17.22. Chicago Atlantic Real Estate Finance has a twelve month low of $14.78 and a twelve month high of $20.29.
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Chicago Atlantic Real Estate Finance (NASDAQ:REFI – Get Rating) last announced its earnings results on Thursday, May 12th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.02. As a group, equities research analysts expect that Chicago Atlantic Real Estate Finance will post 2.05 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, April 14th. Shareholders of record on Thursday, March 31st were given a dividend of $0.40 per share. The ex-dividend date was Wednesday, March 30th. This represents a $1.60 annualized dividend and a yield of 9.41%.
In other Chicago Atlantic Real Estate Finance news, Director Jason D. Papastavrou acquired 3,000 shares of the stock in a transaction dated Monday, April 25th. The stock was purchased at an average cost of $17.91 per share, for a total transaction of $53,730.00. Following the acquisition, the director now owns 15,012 shares in the company, valued at approximately $268,864.92. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Jason D. Papastavrou acquired 2,324 shares of the stock in a transaction dated Friday, April 22nd. The stock was acquired at an average price of $17.94 per share, with a total value of $41,692.56. Following the completion of the acquisition, the director now owns 12,012 shares in the company, valued at approximately $215,495.28. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 12,324 shares of company stock valued at $203,923.
Institutional investors and hedge funds have recently made changes to their positions in the company. California State Teachers Retirement System bought a new stake in shares of Chicago Atlantic Real Estate Finance in the 1st quarter worth approximately $45,000. Royal Bank of Canada bought a new stake in Chicago Atlantic Real Estate Finance during the 1st quarter valued at $28,000. Hood River Capital Management LLC raised its holdings in Chicago Atlantic Real Estate Finance by 1.7% during the 1st quarter. Hood River Capital Management LLC now owns 527,878 shares of the company’s stock valued at $9,359,000 after buying an additional 8,707 shares during the last quarter. HighTower Advisors LLC bought a new stake in Chicago Atlantic Real Estate Finance during the 1st quarter valued at $2,618,000. Finally, Commonwealth Equity Services LLC bought a new stake in Chicago Atlantic Real Estate Finance during the 1st quarter valued at $212,000. Hedge funds and other institutional investors own 17.40% of the company’s stock.
Chicago Atlantic Real Estate Finance Company Profile (Get Rating)
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 and property owners in the cannabis industry.
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