Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI - Get Free Report) announced a quarterly dividend on Friday, December 20th,RTT News reports. Stockholders of record on Tuesday, December 31st will be given a dividend of 0.47 per share on Monday, January 13th. This represents a $1.88 dividend on an annualized basis and a dividend 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 decline. 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 Stock Performance
Shares of REFI stock traded up $0.19 on Friday, hitting $15.98. The stock had a trading volume of 244,348 shares, compared to its average volume of 89,670. Chicago Atlantic Real Estate Finance has a 52-week low of $14.82 and a 52-week high of $17.65. 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 stock's 50 day moving average is $15.75 and its 200-day moving average is $15.70.
Analyst Upgrades and Downgrades
Several brokerages have weighed in on REFI. JMP Securities reissued a "market outperform" rating and set a $20.00 price objective on shares of Chicago Atlantic Real Estate Finance in a report on Thursday. Alliance Global Partners assumed coverage on Chicago Atlantic Real Estate Finance in a report on Tuesday. They issued a "buy" rating and a $20.00 price objective for the company.
Read Our Latest Analysis on Chicago Atlantic Real Estate Finance
Insider Activity at Chicago Atlantic Real Estate Finance
In related news, insider John Mazarakis purchased 2,779 shares of Chicago Atlantic Real Estate Finance stock in a transaction dated Friday, November 8th. The stock was bought at an average cost of $15.82 per share, with a total value of $43,963.78. Following the purchase, the insider now owns 372,709 shares in the company, valued at approximately $5,896,256.38. The trade was a 0.75 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 12.30% of the stock is owned by insiders.
Chicago Atlantic Real Estate Finance Company Profile
(
Get Free Report)
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.
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