Chicago Atlantic Real Estate Finance's (REFI) Market Outperform Rating Reiterated at JMP Securities

Chicago Atlantic Real Estate Finance (NASDAQ:REFI - Get Free Report)'s stock had its "market outperform" rating restated by JMP Securities in a note issued to investors on Thursday,Benzinga reports. They currently have a $20.00 price target on the stock. JMP Securities' price target would indicate a potential upside of 26.66% from the stock's current price.

Separately, Alliance Global Partners assumed coverage on shares of Chicago Atlantic Real Estate Finance in a research note on Tuesday. They set a "buy" rating and a $20.00 price target for the company.

Chicago Atlantic Real Estate Finance Stock Up 0.2 %

NASDAQ REFI traded up $0.03 during trading hours on Thursday, reaching $15.79. 114,420 shares of the company were exchanged, compared to its average volume of 89,029. The stock has a market capitalization of $310.02 million, a P/E ratio of 7.90 and a beta of 0.23. Chicago Atlantic Real Estate Finance has a 1 year low of $14.82 and a 1 year high of $17.65. The business's 50 day simple moving average is $15.75 and its 200-day simple moving average is $15.70.

Insider Activity

In related news, insider John Mazarakis acquired 2,779 shares of the firm's stock in a transaction that occurred on Friday, November 8th. The shares were bought at an average cost of $15.82 per share, for a total transaction of $43,963.78. Following the purchase, the insider now owns 372,709 shares in the company, valued at $5,896,256.38. This trade represents a 0.75 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 12.30% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Fielder Capital Group LLC purchased a new stake in shares of Chicago Atlantic Real Estate Finance in the second quarter worth about $8,412,000. Tidal Investments LLC lifted its stake in Chicago Atlantic Real Estate Finance by 21.4% in the 3rd quarter. Tidal Investments LLC now owns 485,610 shares of the company's stock worth $7,532,000 after purchasing an additional 85,481 shares in the last quarter. Sage Mountain Advisors LLC boosted its holdings in Chicago Atlantic Real Estate Finance by 83.4% in the 2nd quarter. Sage Mountain Advisors LLC now owns 133,467 shares of the company's stock valued at $2,050,000 after purchasing an additional 60,682 shares during the period. State Street Corp grew its position in shares of Chicago Atlantic Real Estate Finance by 15.1% during the 3rd quarter. State Street Corp now owns 400,790 shares of the company's stock valued at $6,403,000 after purchasing an additional 52,497 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Chicago Atlantic Real Estate Finance by 315.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 68,677 shares of the company's stock worth $1,065,000 after purchasing an additional 52,134 shares during the period. Institutional investors own 25.48% 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.