Perritt Capital Management Inc. Trims Stock Position in Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI)

Perritt Capital Management Inc. cut its stake in shares of Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) by 10.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 59,034 shares of the company’s stock after selling 7,000 shares during the period. Perritt Capital Management Inc. owned approximately 0.32% of Chicago Atlantic Real Estate Finance worth $955,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. HighTower Advisors LLC raised its stake in Chicago Atlantic Real Estate Finance by 3.3% during the 3rd quarter. HighTower Advisors LLC now owns 173,334 shares of the company’s stock valued at $2,551,000 after acquiring an additional 5,508 shares during the last quarter. Sage Mountain Advisors LLC raised its stake in Chicago Atlantic Real Estate Finance by 33.1% during the 4th quarter. Sage Mountain Advisors LLC now owns 71,913 shares of the company’s stock valued at $1,164,000 after acquiring an additional 17,884 shares during the last quarter. Acadian Asset Management LLC raised its stake in Chicago Atlantic Real Estate Finance by 222.5% during the 3rd quarter. Acadian Asset Management LLC now owns 67,464 shares of the company’s stock valued at $992,000 after acquiring an additional 46,544 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in Chicago Atlantic Real Estate Finance by 89.7% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 57,370 shares of the company’s stock worth $844,000 after purchasing an additional 27,132 shares during the period. Finally, Mariner LLC increased its position in Chicago Atlantic Real Estate Finance by 12.4% during the 3rd quarter. Mariner LLC now owns 49,833 shares of the company’s stock worth $734,000 after purchasing an additional 5,478 shares during the period. 25.48% of the stock is owned by hedge funds and other institutional investors.

Chicago Atlantic Real Estate Finance Price Performance

Shares of NASDAQ:REFI opened at $15.76 on Friday. The firm has a market capitalization of $301.02 million, a price-to-earnings ratio of 7.92 and a beta of 0.21. The business’s 50 day simple moving average is $15.64 and its 200-day simple moving average is $15.88. Chicago Atlantic Real Estate Finance, Inc. has a 12 month low of $13.86 and a 12 month high of $17.65.

Analyst Upgrades and Downgrades

Several research firms have issued reports on REFI. Lake Street Capital upgraded Chicago Atlantic Real Estate Finance to a “strong-buy” rating in a research report on Tuesday, May 7th. JMP Securities reiterated a “market outperform” rating and set a $20.00 target price on shares of Chicago Atlantic Real Estate Finance in a research report on Wednesday, March 13th.

Chicago Atlantic Real Estate Finance Company Profile

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.