Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its stake in Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI - Free Report) by 169.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,074 shares of the company's stock after acquiring an additional 21,415 shares during the period. JPMorgan Chase & Co. owned approximately 0.17% of Chicago Atlantic Real Estate Finance worth $528,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in REFI. Janus Henderson Group PLC purchased a new position in shares of Chicago Atlantic Real Estate Finance in the 3rd quarter worth approximately $160,000. Townsquare Capital LLC purchased a new position in Chicago Atlantic Real Estate Finance during the third quarter worth $162,000. Doliver Advisors LP purchased a new position in Chicago Atlantic Real Estate Finance during the third quarter worth $171,000. Martingale Asset Management L P increased its position in Chicago Atlantic Real Estate Finance by 10.4% during the third quarter. Martingale Asset Management L P now owns 18,045 shares of the company's stock valued at $280,000 after acquiring an additional 1,703 shares during the last quarter. Finally, United Advisor Group LLC purchased a new stake in shares of Chicago Atlantic Real Estate Finance in the third quarter valued at $319,000. 25.48% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on REFI. JMP Securities reiterated a "market outperform" rating and set a $20.00 price target on shares of Chicago Atlantic Real Estate Finance in a report on Thursday, December 19th. Alliance Global Partners initiated coverage on Chicago Atlantic Real Estate Finance in a research note on Tuesday, December 17th. They set a "buy" rating and a $20.00 target price on the stock.

Chicago Atlantic Real Estate Finance Price Performance

Chicago Atlantic Real Estate Finance stock traded up $0.12 during trading hours on Friday, reaching $15.37. The stock had a trading volume of 123,350 shares, compared to its average volume of 136,738. Chicago Atlantic Real Estate Finance, Inc. has a 52 week low of $14.82 and a 52 week high of $16.49. The company has a market cap of $301.71 million, a price-to-earnings ratio of 7.69 and a beta of 0.23. The business's 50 day moving average price is $15.74 and its 200-day moving average price is $15.68.

Chicago Atlantic Real Estate Finance Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.47 per share. The ex-dividend date was Tuesday, December 31st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 12.23%. Chicago Atlantic Real Estate Finance's payout ratio is 94.00%.

Insider Activity

In related news, insider John Mazarakis acquired 2,779 shares of the stock in a transaction dated Friday, November 8th. The stock was acquired at an average cost of $15.82 per share, for a total transaction of $43,963.78. Following the completion of the purchase, the insider now owns 372,709 shares of the company's stock, valued at approximately $5,896,256.38. This represents a 0.75 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 12.30% of the company's stock.

About Chicago Atlantic Real Estate Finance

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.