State Street Corp increased its stake in shares of Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI - Free Report) by 15.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 400,790 shares of the company's stock after purchasing an additional 52,497 shares during the quarter. State Street Corp owned approximately 2.04% of Chicago Atlantic Real Estate Finance worth $6,403,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in REFI. Fielder Capital Group LLC acquired a new stake in Chicago Atlantic Real Estate Finance in the second quarter valued at approximately $8,412,000. AdvisorShares Investments LLC boosted its position in shares of Chicago Atlantic Real Estate Finance by 13.4% in the 2nd quarter. AdvisorShares Investments LLC now owns 101,361 shares of the company's stock worth $1,523,000 after purchasing an additional 12,000 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in Chicago Atlantic Real Estate Finance by 315.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 68,677 shares of the company's stock worth $1,065,000 after buying an additional 52,134 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Chicago Atlantic Real Estate Finance by 16.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 59,219 shares of the company's stock worth $910,000 after buying an additional 8,500 shares during the last quarter. Finally, Commonwealth Equity Services LLC increased its position in Chicago Atlantic Real Estate Finance by 2.5% during the 2nd quarter. Commonwealth Equity Services LLC now owns 37,337 shares of the company's stock valued at $574,000 after buying an additional 909 shares in the last quarter. Institutional investors own 25.48% of the company's stock.
Chicago Atlantic Real Estate Finance Stock Performance
Shares of NASDAQ REFI traded down $0.03 during mid-day trading on Friday, hitting $16.18. The stock had a trading volume of 187,090 shares, compared to its average volume of 90,442. The firm has a market cap of $317.68 million, a PE ratio of 8.09 and a beta of 0.23. The company has a 50 day moving average of $15.81 and a two-hundred day moving average of $15.71. Chicago Atlantic Real Estate Finance, Inc. has a twelve month low of $14.82 and a twelve month high of $16.75.
Chicago Atlantic Real Estate Finance Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Tuesday, December 31st will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 11.62%. The ex-dividend date is Tuesday, December 31st. Chicago Atlantic Real Estate Finance's dividend payout ratio is presently 94.00%.
Insider Transactions at Chicago Atlantic Real Estate Finance
In other Chicago Atlantic Real Estate Finance news, insider John Mazarakis acquired 2,779 shares of the company's stock in a transaction dated Friday, November 8th. The shares were acquired at an average cost of $15.82 per share, with a total value of $43,963.78. Following the acquisition, the insider now directly owns 372,709 shares of the company's stock, valued at approximately $5,896,256.38. The trade was a 0.75 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 12.30% of the company's stock.
Analysts Set New Price Targets
Several equities research analysts have weighed in on the company. Alliance Global Partners assumed 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. JMP Securities reiterated a "market outperform" rating and issued a $20.00 target price on shares of Chicago Atlantic Real Estate Finance in a research note on Thursday, December 19th.
Check Out Our Latest Stock Analysis on REFI
About Chicago Atlantic Real Estate Finance
(
Free Report)
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.
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