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

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) announced a quarterly dividend on Friday, December 20th,RTT News reports. Shareholders of record on Tuesday, December 31st will be given 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 11.62%. The ex-dividend date of this dividend is Tuesday, December 31st.

Chicago Atlantic Real Estate Finance has a payout ratio of 87.4% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities 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 0.2 %

Shares of REFI stock opened at $16.18 on Friday. The stock has a market cap of $317.68 million, a P/E ratio of 8.09 and a beta of 0.23. Chicago Atlantic Real Estate Finance has a fifty-two week low of $14.82 and a fifty-two week high of $16.75. The business has a fifty day simple moving average of $15.81 and a 200-day simple moving average of $15.71.

Insider Activity

In other news, insider John Mazarakis bought 2,779 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was purchased at an average price of $15.82 per share, with a total value of $43,963.78. Following the purchase, the insider now owns 372,709 shares of the company’s stock, valued at $5,896,256.38. This trade represents a 0.75 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 12.30% of the company’s stock.

Analyst Ratings Changes

REFI has been the subject of several recent research reports. Alliance Global Partners assumed coverage on shares of Chicago Atlantic Real Estate Finance in a report on Tuesday, December 17th. They set a “buy” rating and a $20.00 target price for the company. JMP Securities reissued a “market outperform” rating and set a $20.00 price objective on shares of Chicago Atlantic Real Estate Finance in a research note 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.