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

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) announced a quarterly dividend on Monday, March 17th, RTT News reports. Investors of record on Monday, March 31st will be paid a dividend of 0.47 per share on Tuesday, April 15th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 12.29%. The ex-dividend date of this dividend is Monday, March 31st.

Chicago Atlantic Real Estate Finance has a payout ratio of 88.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. 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 Trading Down 0.7 %

Chicago Atlantic Real Estate Finance stock opened at $15.30 on Friday. Chicago Atlantic Real Estate Finance has a 52 week low of $14.82 and a 52 week high of $16.47. The stock has a market cap of $319.68 million, a price-to-earnings ratio of 7.65 and a beta of 0.22. The company’s 50-day moving average price is $15.64 and its two-hundred day moving average price is $15.69.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on REFI. JMP Securities reiterated a “market outperform” rating and issued a $20.00 target price on shares of Chicago Atlantic Real Estate Finance in a report on Thursday, December 19th. Alliance Global Partners began 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 on the 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.