Alliance Global Partners Initiates Coverage on Chicago Atlantic Real Estate Finance (NASDAQ:REFI)

Alliance Global Partners initiated coverage on shares of Chicago Atlantic Real Estate Finance (NASDAQ:REFI) in a research report issued to clients and investors on Tuesday,Briefing.com Automated Import reports. The firm set a “buy” rating and a $20.00 price target on the stock. Alliance Global Partners’ price objective suggests a potential upside of 23.61% from the stock’s previous close.

Chicago Atlantic Real Estate Finance Trading Up 0.2 %

Shares of REFI stock opened at $16.18 on Tuesday. Chicago Atlantic Real Estate Finance has a 12-month low of $14.82 and a 12-month high of $17.65. The business’s fifty day simple moving average is $15.73 and its 200-day simple moving average is $15.69. The company has a market cap of $317.61 million, a PE ratio of 8.09 and a beta of 0.23.

Insiders Place Their Bets

In other Chicago Atlantic Real Estate Finance news, insider John Mazarakis purchased 2,779 shares of Chicago Atlantic Real Estate Finance stock in a transaction that occurred on Friday, November 8th. The stock was bought at an average price of $15.82 per share, with a total value of $43,963.78. Following the acquisition, 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 Securities & Exchange Commission, which is available through this link. Corporate insiders own 12.30% of the company’s stock.

Institutional Investors Weigh In On Chicago Atlantic Real Estate Finance

A number of large investors have recently modified their holdings of the business. Bank of New York Mellon Corp grew its position in shares of Chicago Atlantic Real Estate Finance by 16.8% in the second quarter. Bank of New York Mellon Corp now owns 59,219 shares of the company’s stock valued at $910,000 after purchasing an additional 8,500 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in Chicago Atlantic Real Estate Finance by 2.5% in the 2nd quarter. Commonwealth Equity Services LLC now owns 37,337 shares of the company’s stock valued at $574,000 after buying an additional 909 shares during the period. Sage Mountain Advisors LLC lifted its position 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 buying an additional 60,682 shares during the last quarter. Fielder Capital Group LLC purchased a new position in Chicago Atlantic Real Estate Finance during the second quarter worth about $8,412,000. Finally, Rhumbline Advisers increased its position in shares of Chicago Atlantic Real Estate Finance by 7.7% during the second quarter. Rhumbline Advisers now owns 23,754 shares of the company’s stock valued at $365,000 after acquiring an additional 1,689 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.