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

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) announced a quarterly dividend on Friday, December 20th,RTT News reports. Investors 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 dividend on an annualized basis 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 Stock Up 1.2 %

Chicago Atlantic Real Estate Finance stock opened at $15.98 on Friday. The business has a 50-day simple moving average of $15.76 and a 200 day simple moving average of $15.70. The stock has a market cap of $313.75 million, a price-to-earnings ratio of 7.99 and a beta of 0.23. Chicago Atlantic Real Estate Finance has a 52 week low of $14.82 and a 52 week high of $17.65.

Insider Buying and Selling at Chicago Atlantic Real Estate Finance

In other news, insider John Mazarakis bought 2,779 shares of the stock in a transaction on Friday, November 8th. The stock was acquired at an average cost of $15.82 per share, for a total transaction of $43,963.78. Following the acquisition, the insider now owns 372,709 shares of the company’s stock, valued at $5,896,256.38. This represents a 0.75 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 12.30% of the company’s stock.

Analysts Set New Price Targets

REFI has been the topic of a number of recent analyst reports. JMP Securities reiterated a “market outperform” rating and issued a $20.00 price objective on shares of Chicago Atlantic Real Estate Finance in a research report on Thursday. Alliance Global Partners assumed coverage on Chicago Atlantic Real Estate Finance in a research report on Tuesday, December 17th. They issued a “buy” rating and a $20.00 price target for the company.

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.