Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) Announces $0.47 Quarterly Dividend

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) announced a quarterly dividend on Friday, December 20th,RTT News reports. Investors of record on Tuesday, December 31st will be paid a dividend of 0.47 per share on Monday, January 13th. This represents a $1.88 dividend on an annualized basis and a yield of 11.76%.

Chicago Atlantic Real Estate Finance has a dividend payout ratio of 86.2% meaning 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 Performance

Shares of NASDAQ:REFI opened at $15.98 on Friday. The company has a market capitalization of $313.75 million, a PE ratio of 7.99 and a beta of 0.23. The stock has a fifty day moving average of $15.76 and a 200-day moving average of $15.70. Chicago Atlantic Real Estate Finance has a one year low of $14.82 and a one year high of $17.65.

Insider Buying and Selling

In related news, insider John Mazarakis acquired 2,779 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were bought at an average price of $15.82 per share, for a total transaction of $43,963.78. Following the acquisition, the insider now owns 372,709 shares in the company, valued at $5,896,256.38. This trade represents a 0.75 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 12.30% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on REFI. JMP Securities reissued a “market outperform” rating and set a $20.00 target price on shares of Chicago Atlantic Real Estate Finance in a research note on Thursday. Alliance Global Partners initiated coverage on Chicago Atlantic Real Estate Finance in a research note on Tuesday. They issued a “buy” rating and a $20.00 price objective for the company.

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.