JMP Securities Reiterates Market Outperform Rating for Chicago Atlantic Real Estate Finance (NASDAQ:REFI)

Chicago Atlantic Real Estate Finance (NASDAQ:REFI)‘s stock had its “market outperform” rating reaffirmed by JMP Securities in a research report issued on Thursday,Benzinga reports. They presently have a $20.00 price objective on the stock. JMP Securities’ price objective indicates a potential upside of 25.16% from the stock’s previous close.

Separately, Alliance Global Partners started coverage on Chicago Atlantic Real Estate Finance in a research report on Tuesday. They issued a “buy” rating and a $20.00 target price on the stock.

Chicago Atlantic Real Estate Finance Stock Up 1.2 %

Chicago Atlantic Real Estate Finance stock opened at $15.98 on Thursday. Chicago Atlantic Real Estate Finance has a 12 month low of $14.82 and a 12 month high of $17.65. The company’s fifty day simple moving average is $15.76 and its 200-day simple moving average is $15.70. The stock has a market cap of $313.75 million, a P/E ratio of 7.99 and a beta of 0.23.

Insider Activity

In related news, insider John Mazarakis acquired 2,779 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were acquired at an average cost of $15.82 per share, with a total value of $43,963.78. Following the purchase, the insider now owns 372,709 shares of the company’s stock, valued at approximately $5,896,256.38. The trade was a 0.75 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 12.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Chicago Atlantic Real Estate Finance

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tidal Investments LLC lifted its stake in shares of Chicago Atlantic Real Estate Finance by 21.4% in the third quarter. Tidal Investments LLC now owns 485,610 shares of the company’s stock worth $7,532,000 after buying an additional 85,481 shares during the last quarter. Barclays PLC lifted its position in Chicago Atlantic Real Estate Finance by 271.9% during the 3rd quarter. Barclays PLC now owns 22,143 shares of the company’s stock worth $343,000 after acquiring an additional 16,189 shares during the last quarter. State Street Corp boosted its holdings in Chicago Atlantic Real Estate Finance by 15.1% during the third quarter. State Street Corp now owns 400,790 shares of the company’s stock valued at $6,403,000 after acquiring an additional 52,497 shares during the period. Janus Henderson Group PLC bought a new stake in Chicago Atlantic Real Estate Finance during the third quarter valued at about $160,000. Finally, Martingale Asset Management L P increased its stake 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 worth $280,000 after purchasing an additional 1,703 shares during the period. Institutional investors and hedge funds own 25.48% of the company’s stock.

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.