Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) Short Interest Down 18.0% in January

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) saw a significant decrease in short interest in the month of January. As of January 31st, there was short interest totalling 263,800 shares, a decrease of 18.0% from the January 15th total of 321,900 shares. Based on an average daily trading volume, of 127,400 shares, the days-to-cover ratio is currently 2.1 days. Approximately 1.6% of the shares of the company are short sold.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Alliance Global Partners started coverage on shares of Chicago Atlantic Real Estate Finance in a research report on Tuesday, December 17th. They issued a “buy” rating and a $20.00 price objective on the stock. JMP Securities reaffirmed 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.

Institutional Trading of Chicago Atlantic Real Estate Finance

Several hedge funds and other institutional investors have recently modified their holdings of REFI. Gladstone Institutional Advisory LLC purchased a new position in Chicago Atlantic Real Estate Finance in the 3rd quarter valued at approximately $504,000. United Advisor Group LLC bought a new stake in shares of Chicago Atlantic Real Estate Finance during the 3rd quarter valued at $319,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Chicago Atlantic Real Estate Finance by 315.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 68,677 shares of the company’s stock worth $1,065,000 after purchasing an additional 52,134 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Chicago Atlantic Real Estate Finance by 6.6% in the 3rd 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 period. Finally, Townsquare Capital LLC purchased a new position in Chicago Atlantic Real Estate Finance during the 3rd quarter valued at about $162,000. Institutional investors own 25.48% of the company’s stock.

Chicago Atlantic Real Estate Finance Stock Performance

REFI stock opened at $16.00 on Friday. Chicago Atlantic Real Estate Finance has a fifty-two week low of $14.82 and a fifty-two week high of $16.49. The stock has a fifty day moving average of $15.65 and a 200-day moving average of $15.65. The company has a market capitalization of $314.08 million, a price-to-earnings ratio of 8.00 and a beta of 0.23.

Chicago Atlantic Real Estate Finance Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Tuesday, December 31st were paid a $0.47 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.88 annualized dividend and a dividend yield of 11.75%. Chicago Atlantic Real Estate Finance’s payout ratio is 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.