Chicago Atlantic Real Estate Finance, Inc. Announces Quarterly Dividend of $0.47 (NASDAQ:REFI)

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) announced a quarterly dividend on Friday, December 20th,RTT News reports. Stockholders of record on Tuesday, December 31st will be paid a dividend of 0.47 per share on Monday, January 13th. This represents a $1.88 annualized dividend and a dividend yield of 11.76%.

Chicago Atlantic Real Estate Finance has a payout ratio of 86.2% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research 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 traded up $0.19 during mid-day trading on Friday, hitting $15.98. The company’s stock had a trading volume of 244,348 shares, compared to its average volume of 89,670. Chicago Atlantic Real Estate Finance has a 52-week low of $14.82 and a 52-week high of $17.65. The company has a market cap of $313.75 million, a PE ratio of 7.99 and a beta of 0.23. The firm’s 50 day moving average is $15.75 and its 200 day moving average is $15.70.

Analysts Set New Price Targets

REFI has been the subject of several research reports. JMP Securities restated a “market outperform” rating and set a $20.00 price target on shares of Chicago Atlantic Real Estate Finance in a report on Thursday. Alliance Global Partners started coverage on Chicago Atlantic Real Estate Finance in a research note on Tuesday. They set a “buy” rating and a $20.00 price target for the company.

Insider Transactions at Chicago Atlantic Real Estate Finance

In other Chicago Atlantic Real Estate Finance news, insider John Mazarakis bought 2,779 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were bought at an average price 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 of the company’s stock, valued at approximately $5,896,256.38. This trade represents a 0.75 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 12.30% of the stock is owned by insiders.

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.