Chicago Atlantic Real Estate Finance (NASDAQ:REFI) Now Covered by Alliance Global Partners

Stock analysts at Alliance Global Partners initiated coverage on shares of Chicago Atlantic Real Estate Finance (NASDAQ:REFI) in a research note issued to investors on Tuesday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $20.00 price target on the stock. Alliance Global Partners’ price target points to a potential upside of 26.90% from the stock’s previous close.

Chicago Atlantic Real Estate Finance Stock Down 2.1 %

NASDAQ REFI opened at $15.76 on Tuesday. Chicago Atlantic Real Estate Finance has a fifty-two week low of $14.82 and a fifty-two week high of $17.65. The stock has a market cap of $309.43 million, a price-to-earnings ratio of 7.88 and a beta of 0.23. The business has a fifty day moving average of $15.75 and a 200-day moving average of $15.69.

Insider Transactions at Chicago Atlantic Real Estate Finance

In related news, insider John Mazarakis purchased 2,779 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was bought at an average cost of $15.82 per share, with a total value of $43,963.78. Following the completion of the acquisition, the insider now directly owns 372,709 shares in the company, valued at $5,896,256.38. The trade was a 0.75 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 12.30% of the company’s stock.

Hedge Funds Weigh In On Chicago Atlantic Real Estate Finance

Several institutional investors have recently added to or reduced their stakes in REFI. Fielder Capital Group LLC acquired a new position in Chicago Atlantic Real Estate Finance in the second quarter valued at $8,412,000. Tidal Investments LLC increased its stake in Chicago Atlantic Real Estate Finance by 21.4% in the third quarter. Tidal Investments LLC now owns 485,610 shares of the company’s stock valued at $7,532,000 after purchasing an additional 85,481 shares during the last quarter. Sage Mountain Advisors LLC increased its stake in Chicago Atlantic Real Estate Finance by 83.4% in the second quarter. Sage Mountain Advisors LLC now owns 133,467 shares of the company’s stock valued at $2,050,000 after purchasing an additional 60,682 shares during the last quarter. State Street Corp increased its stake in Chicago Atlantic Real Estate Finance by 15.1% in the third quarter. State Street Corp now owns 400,790 shares of the company’s stock valued at $6,403,000 after purchasing an additional 52,497 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in Chicago Atlantic Real Estate Finance by 315.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 68,677 shares of the company’s stock valued at $1,065,000 after purchasing an additional 52,134 shares during the last quarter. 25.48% of the stock is currently owned by institutional investors and hedge funds.

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.