Chicago Atlantic Real Estate Finance, Inc. (REFI) To Go Ex-Dividend on June 30th

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) announced a quarterly dividend on Wednesday, June 17th. Shareholders of record on Tuesday, June 30th will be given a dividend of 0.47 per share on Wednesday, July 15th. This represents a c) annualized dividend and a yield of 16.4%. The ex-dividend date of this dividend is Tuesday, June 30th.

Chicago Atlantic Real Estate Finance has a payout ratio of 90.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Analysts expect Chicago Atlantic Real Estate Finance to earn $1.80 per share next year, which means the company may not be able to cover its $1.88 annual dividend with an expected future payout ratio of 104.4%.

Chicago Atlantic Real Estate Finance Stock Up 3.1%

NASDAQ REFI opened at $11.45 on Friday. The firm’s 50 day moving average is $11.56 and its 200-day moving average is $12.04. The company has a market capitalization of $242.85 million, a PE ratio of 7.95 and a beta of 0.23. Chicago Atlantic Real Estate Finance has a 12-month low of $10.74 and a 12-month high of $14.59.

Chicago Atlantic Real Estate Finance (NASDAQ:REFI) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.02). Chicago Atlantic Real Estate Finance had a net margin of 55.54% and a return on equity of 11.98%. The company had revenue of $12.92 million for the quarter, compared to analyst estimates of $13.69 million. As a group, sell-side analysts expect that Chicago Atlantic Real Estate Finance will post 1.72 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently commented on REFI shares. Zacks Research downgraded shares of Chicago Atlantic Real Estate Finance from a “strong-buy” rating to a “hold” rating in a report on Friday, May 15th. Oppenheimer downgraded shares of Chicago Atlantic Real Estate Finance from an “outperform” rating to a “market perform” rating in a research report on Monday, March 16th. Finally, Weiss Ratings cut Chicago Atlantic Real Estate Finance from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Chicago Atlantic Real Estate Finance presently has an average rating of “Reduce” and a consensus price target of $14.00.

Chicago Atlantic Real Estate Finance Company Profile

Chicago Atlantic Real Estate Finance, Inc (NASDAQ:REFI) is a publicly listed real estate finance company that specializes in originating and acquiring commercial real estate debt. Pursuant to its election to be treated as a real estate investment trust (REIT), REFI’s investment strategy focuses on floating-rate senior mortgage loans secured by income-producing properties across the United States. The company targets stabilized, performing assets in sectors such as multifamily, office, retail and industrial, aiming to generate attractive risk-adjusted returns through current income.

Established in 2015 and headquartered in Chicago, Illinois, REFI completed its initial public offering in 2019.