Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) Stock Position Reduced by HighTower Advisors LLC

HighTower Advisors LLC lessened its stake in Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI - Free Report) by 46.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 76,418 shares of the company's stock after selling 67,142 shares during the period. HighTower Advisors LLC owned 0.39% of Chicago Atlantic Real Estate Finance worth $1,186,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC grew its holdings in Chicago Atlantic Real Estate Finance by 2.5% during the second 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 grew its stake in shares of Chicago Atlantic Real Estate Finance by 6.6% during the 3rd 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 increased its holdings in shares of Chicago Atlantic Real Estate Finance by 7.7% in the 2nd quarter. Rhumbline Advisers now owns 23,754 shares of the company's stock valued at $365,000 after purchasing an additional 1,689 shares in the last quarter. Martingale Asset Management L P lifted its stake in shares of Chicago Atlantic Real Estate Finance by 10.4% in the third 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 boosted its holdings in Chicago Atlantic Real Estate Finance by 17.5% during the second quarter. Renaissance Technologies LLC now owns 36,300 shares of the company's stock worth $558,000 after buying an additional 5,400 shares in the last quarter. 25.48% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider John Mazarakis acquired 2,779 shares of Chicago Atlantic Real Estate Finance stock in a transaction that occurred on Friday, November 8th. The shares were acquired at an average price of $15.82 per share, with a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 12.30% of the company's stock.

Chicago Atlantic Real Estate Finance Price Performance

REFI traded down $0.09 during midday trading on Tuesday, reaching $16.09. 133,535 shares of the company's stock were exchanged, compared to its average volume of 88,577. Chicago Atlantic Real Estate Finance, Inc. has a 1-year low of $14.82 and a 1-year high of $17.65. The stock has a market capitalization of $315.85 million, a PE ratio of 8.05 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 $15.69.

Wall Street Analyst Weigh In

Separately, 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 target on the stock.

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.