Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) Sees Large Increase in Short Interest

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) was the target of a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 351,700 shares, a growth of 41.9% from the December 15th total of 247,900 shares. Based on an average trading volume of 100,600 shares, the days-to-cover ratio is presently 3.5 days. Approximately 2.1% of the company’s shares are sold short.

Analysts Set New Price Targets

REFI has been the topic of several research analyst reports. JMP Securities reaffirmed 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. Alliance Global Partners started coverage on 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.

Insider Buying and Selling

In other news, insider John Mazarakis bought 2,779 shares of the business’s stock in a transaction on Friday, November 8th. The shares were bought at an average cost of $15.82 per share, for a total transaction of $43,963.78. Following the completion of the acquisition, the insider now owns 372,709 shares in the company, valued at approximately $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 at this hyperlink. 12.30% of the stock is owned by insiders.

Institutional Trading of Chicago Atlantic Real Estate Finance

Several hedge funds and other institutional investors have recently modified their holdings of REFI. SG Americas Securities LLC acquired a new position in shares of Chicago Atlantic Real Estate Finance during the fourth quarter worth about $119,000. Magnus Financial Group LLC bought a new stake in Chicago Atlantic Real Estate Finance in the 4th quarter valued at approximately $508,000. HB Wealth Management LLC acquired a new position in Chicago Atlantic Real Estate Finance during the 4th quarter worth approximately $191,000. Doliver Advisors LP raised its holdings in shares of Chicago Atlantic Real Estate Finance by 149.4% in the fourth quarter. Doliver Advisors LP now owns 27,438 shares of the company’s stock valued at $423,000 after purchasing an additional 16,438 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Chicago Atlantic Real Estate Finance by 169.2% in the third quarter. JPMorgan Chase & Co. now owns 34,074 shares of the company’s stock worth $528,000 after purchasing an additional 21,415 shares in the last quarter. Institutional investors and hedge funds own 25.48% of the company’s stock.

Chicago Atlantic Real Estate Finance Price Performance

Shares of Chicago Atlantic Real Estate Finance stock traded up $0.10 on Friday, hitting $15.66. The company had a trading volume of 201,298 shares, compared to its average volume of 162,509. Chicago Atlantic Real Estate Finance has a twelve month low of $14.82 and a twelve month high of $16.49. The stock has a 50-day moving average of $15.83 and a 200-day moving average of $15.68. The firm has a market capitalization of $307.41 million, a P/E ratio of 7.83 and a beta of 0.23.

Chicago Atlantic Real Estate Finance Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 12.01%. The ex-dividend date of this dividend was Tuesday, December 31st. Chicago Atlantic Real Estate Finance’s dividend payout ratio (DPR) is presently 94.00%.

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.