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

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) was the recipient of a significant 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 volume of 161,400 shares, the short-interest ratio is currently 1.8 days. Approximately 1.6% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on REFI. Alliance Global Partners started 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 price target 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 report on Thursday, December 19th.

Institutional Investors Weigh In On Chicago Atlantic Real Estate Finance

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Intrepid Capital Management Inc. increased its stake in shares of Chicago Atlantic Real Estate Finance by 503.1% during the fourth quarter. Intrepid Capital Management Inc. now owns 711,127 shares of the company’s stock valued at $10,966,000 after purchasing an additional 593,218 shares in the last quarter. Fielder Capital Group LLC boosted its holdings in Chicago Atlantic Real Estate Finance by 8.8% in the fourth quarter. Fielder Capital Group LLC now owns 674,286 shares of the company’s stock worth $10,397,000 after acquiring an additional 54,605 shares in the last quarter. Tidal Investments LLC increased its holdings in shares of Chicago Atlantic Real Estate Finance by 0.9% during the fourth quarter. Tidal Investments LLC now owns 489,926 shares of the company’s stock valued at $7,555,000 after acquiring an additional 4,316 shares in the last quarter. State Street Corp raised its position in shares of 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 purchasing an additional 52,497 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in Chicago Atlantic Real Estate Finance by 9.6% in the 4th quarter. Northern Trust Corp now owns 149,804 shares of the company’s stock worth $2,310,000 after purchasing an additional 13,113 shares in the last quarter. 25.48% of the stock is owned by hedge funds and other institutional investors.

Chicago Atlantic Real Estate Finance Price Performance

REFI traded down $0.11 on Friday, hitting $15.30. The company had a trading volume of 179,185 shares, compared to its average volume of 106,805. Chicago Atlantic Real Estate Finance has a 52-week low of $14.82 and a 52-week high of $16.47. The stock has a fifty day simple moving average of $15.64 and a 200-day simple moving average of $15.69. The firm has a market capitalization of $319.68 million, a P/E ratio of 7.65 and a beta of 0.22.

Chicago Atlantic Real Estate Finance Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.47 dividend. 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’s payout ratio is presently 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.