Chicago Atlantic Real Estate Finance, Inc. (REFI) to Issue Quarterly Dividend of $0.47 on January 13th

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) declared a quarterly dividend on Friday, December 20th,RTT News reports. Shareholders 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 annualized dividend and a yield of 11.62%. The ex-dividend date of this dividend is Tuesday, December 31st.

Chicago Atlantic Real Estate Finance has a dividend payout ratio of 87.4% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities 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 Performance

REFI stock opened at $16.18 on Friday. The stock has a market capitalization of $317.68 million, a PE ratio of 8.09 and a beta of 0.23. The company has a fifty day moving average of $15.81 and a 200-day moving average of $15.71. Chicago Atlantic Real Estate Finance has a one year low of $14.82 and a one year high of $16.75.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. JMP Securities restated 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, 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 price target for the company.

Insider Transactions at Chicago Atlantic Real Estate Finance

In related news, insider John Mazarakis acquired 2,779 shares of Chicago Atlantic Real Estate Finance stock in a transaction that occurred on Friday, November 8th. The stock was purchased at an average price of $15.82 per share, for a total transaction of $43,963.78. Following the completion of the purchase, the insider now directly owns 372,709 shares of the company’s stock, valued at approximately $5,896,256.38. This trade represents a 0.75 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 12.30% 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.