Alliance Global Partners Begins Coverage on Chicago Atlantic Real Estate Finance (NASDAQ:REFI)

Alliance Global Partners started coverage on shares of Chicago Atlantic Real Estate Finance (NASDAQ:REFI - Free Report) in a research note issued to investors on Tuesday morning, Marketbeat reports. The firm issued a buy rating and a $20.00 price target on the stock.

Chicago Atlantic Real Estate Finance Stock Performance

Shares of NASDAQ:REFI traded down $0.09 during midday trading on Tuesday, hitting $16.09. 133,535 shares of the stock were exchanged, compared to its average volume of 88,577. The company has a market capitalization of $315.85 million, a PE ratio of 8.05 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 $17.65. The business's fifty day simple moving average is $15.74 and its two-hundred day simple moving average is $15.69.

Insider Activity

In other Chicago Atlantic Real Estate Finance news, insider John Mazarakis bought 2,779 shares of the stock in a transaction on Friday, November 8th. The shares were purchased at an average cost of $15.82 per share, with a total value of $43,963.78. Following the completion of the transaction, the insider now directly owns 372,709 shares of the company's stock, valued at $5,896,256.38. This represents a 0.75 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 12.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Chicago Atlantic Real Estate Finance

A number of institutional investors have recently modified their holdings of the company. Commonwealth Equity Services LLC raised its holdings in Chicago Atlantic Real Estate Finance by 2.5% in the 2nd quarter. Commonwealth Equity Services LLC now owns 37,337 shares of the company's stock worth $574,000 after acquiring an additional 909 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of Chicago Atlantic Real Estate Finance by 6.6% in the third quarter. The Manufacturers Life Insurance Company now owns 21,684 shares of the company's stock worth $336,000 after purchasing an additional 1,349 shares during the period. Rhumbline Advisers lifted its position in shares of Chicago Atlantic Real Estate Finance by 7.7% during the 2nd quarter. Rhumbline Advisers now owns 23,754 shares of the company's stock worth $365,000 after purchasing an additional 1,689 shares during the last quarter. Martingale Asset Management L P boosted its stake in Chicago Atlantic Real Estate Finance by 10.4% during the 3rd quarter. Martingale Asset Management L P now owns 18,045 shares of the company's stock valued at $280,000 after purchasing an additional 1,703 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in Chicago Atlantic Real Estate Finance by 17.5% in the 2nd quarter. Renaissance Technologies LLC now owns 36,300 shares of the company's stock valued at $558,000 after buying an additional 5,400 shares during the last quarter. 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.