Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) Short Interest Update

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) was the recipient of a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 284,700 shares, a growth of 40.2% from the February 28th total of 203,100 shares. Approximately 1.6% of the shares of the company are short sold. Based on an average daily trading volume, of 161,400 shares, the short-interest ratio is presently 1.8 days.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. JMP Securities restated a “market outperform” rating and set a $20.00 price target on shares of Chicago Atlantic Real Estate Finance in a research note 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 for the company.

Chicago Atlantic Real Estate Finance Stock Performance

NASDAQ REFI traded up $0.09 on Tuesday, hitting $14.79. The stock had a trading volume of 195,093 shares, compared to its average volume of 107,759. The firm has a 50-day moving average of $15.62 and a 200-day moving average of $15.68. Chicago Atlantic Real Estate Finance has a 52-week low of $14.48 and a 52-week high of $16.47. The company has a market capitalization of $309.02 million, a price-to-earnings ratio of 7.40 and a beta of 0.22.

Chicago Atlantic Real Estate Finance Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a $0.47 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 12.71%. Chicago Atlantic Real Estate Finance’s dividend payout ratio (DPR) is presently 100.00%.

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 REFI. The Manufacturers Life Insurance Company grew its holdings 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 in the last quarter. Townsquare Capital LLC purchased a new position in Chicago Atlantic Real Estate Finance in the 3rd quarter worth approximately $162,000. Martingale Asset Management L P grew its stake in Chicago Atlantic Real Estate Finance by 10.4% in the 3rd quarter. Martingale Asset Management L P now owns 18,045 shares of the company’s stock worth $280,000 after buying an additional 1,703 shares in the last quarter. Janus Henderson Group PLC purchased a new stake in shares of Chicago Atlantic Real Estate Finance during the 3rd quarter valued at $160,000. Finally, State Street Corp raised its position in shares of Chicago Atlantic Real Estate Finance by 15.1% during the 3rd quarter. State Street Corp now owns 400,790 shares of the company’s stock valued at $6,403,000 after buying an additional 52,497 shares in the last quarter. 25.48% of the stock is currently owned by hedge funds and other institutional investors.

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.