Chicago Atlantic Real Estate Finance, Inc. (REFI) to Issue Quarterly Dividend of $0.47 on April 15th

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) announced a quarterly dividend on Monday, March 17th, RTT News reports. Stockholders of record on Monday, March 31st will be given a dividend of 0.47 per share on Tuesday, April 15th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 12.29%. The ex-dividend date of this dividend is Monday, March 31st.

Chicago Atlantic Real Estate Finance has a payout ratio of 88.7% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. 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 Price Performance

Chicago Atlantic Real Estate Finance stock opened at $15.30 on Friday. Chicago Atlantic Real Estate Finance has a 12-month low of $14.82 and a 12-month high of $16.47. The company has a market capitalization of $319.68 million, a price-to-earnings ratio of 7.65 and a beta of 0.22. The firm’s fifty day moving average price is $15.64 and its 200 day moving average price is $15.69.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. JMP Securities restated 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 assumed coverage on shares of Chicago Atlantic Real Estate Finance in a research report on Tuesday, December 17th. They issued a “buy” rating and a $20.00 price target on the stock.

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.