Chicago Atlantic Real Estate Finance (NASDAQ:REFI) Cut to “Hold” at Zacks Research

Chicago Atlantic Real Estate Finance (NASDAQ:REFI) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Separately, Weiss Ratings lowered shares of Chicago Atlantic Real Estate Finance from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, June 16th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $14.00.

Chicago Atlantic Real Estate Finance Stock Performance

NASDAQ:REFI opened at $9.93 on Tuesday. The company has a market cap of $210.62 million, a price-to-earnings ratio of 6.90 and a beta of 0.24. Chicago Atlantic Real Estate Finance has a fifty-two week low of $9.69 and a fifty-two week high of $14.57. The stock has a fifty day moving average price of $10.78 and a 200-day moving average price of $11.52.

Chicago Atlantic Real Estate Finance (NASDAQ:REFI) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $13.69 million. Research analysts predict that Chicago Atlantic Real Estate Finance will post 1.72 EPS for the current fiscal year.

Institutional Trading of Chicago Atlantic Real Estate Finance

Several institutional investors and hedge funds have recently modified their holdings of the business. Strs Ohio acquired a new stake in Chicago Atlantic Real Estate Finance in the first quarter valued at about $47,000. Russell Investments Group Ltd. raised its stake in Chicago Atlantic Real Estate Finance by 29.2% during the second quarter. Russell Investments Group Ltd. now owns 3,552 shares of the company’s stock worth $50,000 after acquiring an additional 803 shares in the last quarter. Garton & Associates Financial Advisors LLC acquired a new position in Chicago Atlantic Real Estate Finance during the fourth quarter worth about $53,000. PNC Financial Services Group Inc. lifted its holdings in shares of Chicago Atlantic Real Estate Finance by 290.3% in the first quarter. PNC Financial Services Group Inc. now owns 6,183 shares of the company’s stock worth $70,000 after acquiring an additional 4,599 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Chicago Atlantic Real Estate Finance by 3,041.1% in the second quarter. EverSource Wealth Advisors LLC now owns 6,722 shares of the company’s stock worth $94,000 after acquiring an additional 6,508 shares during the last quarter. 25.48% of the stock is currently owned by institutional investors.

About Chicago Atlantic Real Estate Finance

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.