Magnus Financial Group LLC Purchases New Shares in Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI)

Magnus Financial Group LLC acquired a new position in shares of Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) during the 4th quarter, Holdings Channel.com reports. The fund acquired 32,962 shares of the company’s stock, valued at approximately $508,000.

Other institutional investors also recently bought and sold shares of the company. The Manufacturers Life Insurance Company raised its stake in shares of Chicago Atlantic Real Estate Finance by 6.6% during the third quarter. The Manufacturers Life Insurance Company now owns 21,684 shares of the company’s stock worth $336,000 after purchasing an additional 1,349 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of Chicago Atlantic Real Estate Finance by 7.7% in the 2nd quarter. Rhumbline Advisers now owns 23,754 shares of the company’s stock worth $365,000 after acquiring an additional 1,689 shares during the period. Martingale Asset Management L P boosted its holdings in shares of Chicago Atlantic Real Estate Finance by 10.4% in the third quarter. Martingale Asset Management L P now owns 18,045 shares of the company’s stock valued at $280,000 after acquiring an additional 1,703 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Chicago Atlantic Real Estate Finance by 17.5% in the second quarter. Renaissance Technologies LLC now owns 36,300 shares of the company’s stock valued at $558,000 after acquiring an additional 5,400 shares in the last quarter. Finally, Janus Henderson Group PLC acquired a new position in shares of Chicago Atlantic Real Estate Finance during the third quarter worth about $160,000. 25.48% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on the company. JMP Securities reissued a “market outperform” rating and issued a $20.00 price target on shares of Chicago Atlantic Real Estate Finance in a report on Thursday, December 19th. Alliance Global Partners assumed coverage on Chicago Atlantic Real Estate Finance in a report on Tuesday, December 17th. They issued a “buy” rating and a $20.00 target price for the company.

Insider Buying and Selling

In other news, insider John Mazarakis purchased 2,779 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was acquired at an average price of $15.82 per share, for a total transaction of $43,963.78. Following the completion of the transaction, the insider now directly owns 372,709 shares in the company, valued at $5,896,256.38. This represents a 0.75 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 12.30% of the stock is currently owned by insiders.

Chicago Atlantic Real Estate Finance Trading Down 2.2 %

Shares of Chicago Atlantic Real Estate Finance stock opened at $15.33 on Thursday. The company has a 50-day moving average of $15.83 and a two-hundred day moving average of $15.70. Chicago Atlantic Real Estate Finance, Inc. has a 12-month low of $14.82 and a 12-month high of $16.49. The stock has a market cap of $300.93 million, a PE ratio of 7.67 and a beta of 0.23.

Chicago Atlantic Real Estate Finance Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Tuesday, December 31st were paid a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 12.26%. The ex-dividend date was Tuesday, December 31st. Chicago Atlantic Real Estate Finance’s payout ratio is currently 94.00%.

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.