Short Interest in Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) Rises By 40.2%

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) saw a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 284,700 shares, an increase of 40.2% from the February 28th total of 203,100 shares. Based on an average daily volume of 161,400 shares, the days-to-cover ratio is presently 1.8 days. Approximately 1.6% of the shares of the company are short sold.

Analysts Set New Price Targets

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

Chicago Atlantic Real Estate Finance Stock Down 0.9 %

Shares of REFI stock traded down $0.13 on Monday, reaching $14.70. The company’s stock had a trading volume of 258,841 shares, compared to its average volume of 158,306. The company has a market capitalization of $307.14 million, a P/E ratio of 7.35 and a beta of 0.22. Chicago Atlantic Real Estate Finance has a 12-month low of $14.48 and a 12-month high of $16.47. The stock’s 50 day simple moving average is $15.64 and its 200-day simple moving average is $15.69.

Chicago Atlantic Real Estate Finance Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.47 per share. The ex-dividend date is Monday, March 31st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 12.79%. Chicago Atlantic Real Estate Finance’s dividend payout ratio (DPR) is presently 100.00%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of REFI. Geode Capital Management LLC raised its stake in Chicago Atlantic Real Estate Finance by 5.4% in the fourth quarter. Geode Capital Management LLC now owns 12,982 shares of the company’s stock valued at $201,000 after purchasing an additional 663 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Chicago Atlantic Real Estate Finance by 3.2% during the 4th quarter. The Manufacturers Life Insurance Company now owns 22,371 shares of the company’s stock valued at $345,000 after buying an additional 687 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Chicago Atlantic Real Estate Finance by 33.5% during the 4th quarter. Russell Investments Group Ltd. now owns 3,321 shares of the company’s stock worth $51,000 after acquiring an additional 833 shares during the last quarter. Tower Research Capital LLC TRC grew its position in Chicago Atlantic Real Estate Finance by 45.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,667 shares of the company’s stock worth $41,000 after acquiring an additional 838 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in 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 valued at $336,000 after acquiring an additional 1,349 shares during the last quarter. Hedge funds and other institutional investors own 25.48% of the company’s 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.