Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) Short Interest Up 41.9% in December

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI - Get Free Report) was the target of a large growth in short interest in December. As of December 31st, there was short interest totalling 351,700 shares, a growth of 41.9% from the December 15th total of 247,900 shares. Currently, 2.1% of the shares of the stock are sold short. Based on an average daily volume of 100,600 shares, the days-to-cover ratio is currently 3.5 days.

Insider Buying and Selling

In other news, insider John Mazarakis acquired 2,779 shares of the company's stock in a transaction dated Friday, November 8th. The stock was bought at an average price of $15.82 per share, with a total value 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 position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. 12.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Chicago Atlantic Real Estate Finance

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new position in shares of Chicago Atlantic Real Estate Finance in the 4th quarter valued at about $119,000. Janus Henderson Group PLC acquired a new position in Chicago Atlantic Real Estate Finance in the third quarter valued at approximately $160,000. Townsquare Capital LLC bought a new position in Chicago Atlantic Real Estate Finance in the third quarter valued at approximately $162,000. Doliver Advisors LP acquired a new stake in Chicago Atlantic Real Estate Finance during the 3rd quarter worth $171,000. Finally, HB Wealth Management LLC bought a new stake in shares of Chicago Atlantic Real Estate Finance during the 4th quarter valued at $191,000. 25.48% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. JMP Securities reaffirmed 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 began coverage on Chicago Atlantic Real Estate Finance in a report on Tuesday, December 17th. They issued a "buy" rating and a $20.00 price target for the company.

Chicago Atlantic Real Estate Finance Stock Performance

REFI traded up $0.10 during mid-day trading on Friday, reaching $15.66. The stock had a trading volume of 201,298 shares, compared to its average volume of 162,509. The firm's fifty day simple moving average is $15.83 and its two-hundred day simple moving average is $15.68. The stock has a market capitalization of $307.41 million, a P/E ratio of 7.83 and a beta of 0.23. Chicago Atlantic Real Estate Finance has a 52 week low of $14.82 and a 52 week high of $16.49.

Chicago Atlantic Real Estate Finance Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Tuesday, December 31st were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 12.01%. The ex-dividend date was Tuesday, December 31st. Chicago Atlantic Real Estate Finance's dividend payout ratio is 94.00%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.