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

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

Institutional Investors Weigh In On Chicago Atlantic Real Estate Finance

Several institutional investors have recently added to or reduced their stakes in REFI. Intrepid Capital Management Inc. increased its position in shares of Chicago Atlantic Real Estate Finance by 503.1% in the fourth quarter. Intrepid Capital Management Inc. now owns 711,127 shares of the company’s stock valued at $10,966,000 after acquiring an additional 593,218 shares during the period. Tidal Investments LLC grew its stake in shares of 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 worth $7,532,000 after purchasing an additional 85,481 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in Chicago Atlantic Real Estate Finance by 242.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 120,576 shares of the company’s stock valued at $1,859,000 after purchasing an additional 85,399 shares during the last quarter. Fielder Capital Group LLC raised its position in Chicago Atlantic Real Estate Finance by 8.8% during the 4th quarter. Fielder Capital Group LLC now owns 674,286 shares of the company’s stock valued at $10,397,000 after purchasing an additional 54,605 shares during the last quarter. Finally, State Street Corp lifted its holdings in Chicago Atlantic Real Estate Finance by 15.1% in the 3rd quarter. State Street Corp now owns 400,790 shares of the company’s stock worth $6,403,000 after buying an additional 52,497 shares during the period. Hedge funds and other institutional investors own 25.48% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on REFI shares. Alliance Global Partners assumed coverage on shares of Chicago Atlantic Real Estate Finance in a research report on Tuesday, December 17th. They set a “buy” rating and a $20.00 price target on the stock. JMP Securities reiterated 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 Stock Performance

REFI stock traded down $0.13 during trading on Monday, hitting $14.70. 258,841 shares of the company traded hands, compared to its average volume of 158,306. The company has a 50-day moving average of $15.64 and a 200-day moving average of $15.69. The firm has a market capitalization of $307.14 million, a PE ratio of 7.35 and a beta of 0.22. Chicago Atlantic Real Estate Finance has a 1 year low of $14.48 and a 1 year high of $16.47.

Chicago Atlantic Real Estate Finance Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 12.79%. The ex-dividend date is Monday, March 31st. Chicago Atlantic Real Estate Finance’s payout ratio is 100.00%.

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.