Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) Sees Significant Decline in Short Interest

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) was the target of a large decrease in short interest in 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. Approximately 1.6% of the shares of the stock are short sold. Based on an average trading volume of 127,400 shares, the days-to-cover ratio is currently 2.1 days.

Hedge Funds Weigh In On Chicago Atlantic Real Estate Finance

A number of hedge funds have recently made changes to their positions in the company. Northern Trust Corp boosted its stake in shares of Chicago Atlantic Real Estate Finance by 9.6% in the fourth quarter. Northern Trust Corp now owns 149,804 shares of the company’s stock worth $2,310,000 after acquiring an additional 13,113 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Chicago Atlantic Real Estate Finance by 3.2% in the 4th quarter. The Manufacturers Life Insurance Company now owns 22,371 shares of the company’s stock valued at $345,000 after purchasing an additional 687 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Chicago Atlantic Real Estate Finance by 13.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 37,460 shares of the company’s stock worth $578,000 after purchasing an additional 4,454 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of Chicago Atlantic Real Estate Finance by 45.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,667 shares of the company’s stock valued at $41,000 after buying an additional 838 shares during the last quarter. Finally, Barclays PLC raised its position in shares of Chicago Atlantic Real Estate Finance by 18.0% in the fourth quarter. Barclays PLC now owns 26,127 shares of the company’s stock valued at $403,000 after buying an additional 3,984 shares during the last quarter. Institutional investors and hedge funds own 25.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. JMP Securities restated a “market outperform” rating and issued a $20.00 price target on shares of Chicago Atlantic Real Estate Finance in a research note on Thursday, December 19th. Alliance Global Partners initiated coverage on Chicago Atlantic Real Estate Finance in a research report on Tuesday, December 17th. They issued a “buy” rating and a $20.00 price objective for the company.

Chicago Atlantic Real Estate Finance Stock Up 1.6 %

Shares of NASDAQ REFI opened at $16.00 on Monday. The firm has a market cap of $314.08 million, a price-to-earnings ratio of 8.00 and a beta of 0.23. The company’s 50-day simple moving average is $15.65 and its 200-day simple moving average is $15.65. Chicago Atlantic Real Estate Finance has a 52-week low of $14.82 and a 52-week high of $16.49.

Chicago Atlantic Real Estate Finance Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Tuesday, December 31st were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 11.75%. The ex-dividend date was Tuesday, December 31st. 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.