Chicago Atlantic Real Estate Finance, Inc. (REFI) to Issue Quarterly Dividend of $0.47 on April 15th

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) announced a quarterly dividend on Monday, March 17th, RTT News reports. Shareholders of record on Monday, March 31st will be given a dividend of 0.47 per share on Tuesday, April 15th. This represents a $1.88 annualized dividend and a dividend yield of 12.11%. The ex-dividend date of this dividend is Monday, March 31st.

Chicago Atlantic Real Estate Finance has a dividend payout ratio of 81.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Analysts expect Chicago Atlantic Real Estate Finance to earn $1.94 per share next year, which means the company should continue to be able to cover its $1.88 annual dividend with an expected future payout ratio of 96.9%.

Chicago Atlantic Real Estate Finance Stock Down 0.1 %

Shares of REFI opened at $15.52 on Wednesday. The company has a 50 day moving average of $15.63 and a two-hundred day moving average of $15.71. The company has a market cap of $324.27 million, a price-to-earnings ratio of 7.76 and a beta of 0.22. Chicago Atlantic Real Estate Finance has a twelve month low of $14.82 and a twelve month high of $16.47.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on REFI. Alliance Global Partners began coverage on Chicago Atlantic Real Estate Finance in a research note on Tuesday, December 17th. They set a “buy” rating and a $20.00 target price for the company. JMP Securities restated a “market outperform” rating and issued a $20.00 target price on shares of Chicago Atlantic Real Estate Finance in a research report on Thursday, December 19th.

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.