Compass Point, a research analyst firm, has downgraded Chicago Atlantic Real Estate Finance (NASDAQ:REFI) from a buy rating to a neutral rating. They have also set a $16.00 price target on the stock. This follows other recent comments on REFI by research analysts. Piper Sandler initiated coverage on Chicago Atlantic Real Estate Finance with a neutral rating and a $16.00 price target. JMP Securities reissued a market outperform rating with a $20.00 price target on shares of Chicago Atlantic Real Estate Finance.
Chicago Atlantic Real Estate Finance stock opened at $15.30 on Tuesday. It has a 52 week low of $12.91 and a 52 week high of $16.50. The company has a market capitalization of $278.00 million and a price-to-earnings ratio of 7.54. Its beta is 0.07. The stock has a 50-day moving average price of $15.08 and a 200-day moving average price of $14.59.
In its previous earnings announcement on August 9th, Chicago Atlantic Real Estate Finance reported earnings per share of $0.54 for the quarter, which missed the consensus estimate of $0.64 by $0.10. The company had revenue of $14.66 million for the quarter, compared to analyst estimates of $15.78 million. Chicago Atlantic Real Estate Finance’s return on equity was 14.02% and its net margin was 61.75%. The company is expected to post an EPS of 2.21 for the current fiscal year.
Chicago Atlantic Real Estate Finance recently announced a quarterly dividend of $0.47 per share, which was paid on July 14th. Shareholders of record on June 30th received the dividend. The dividend payout ratio currently stands at 92.61%.
Institutional investors and hedge funds have been making changes to their positions in REFI. JPMorgan Chase & Co., Bank of New York Mellon Corp, BlackRock Inc., Vanguard Group Inc., and American International Group Inc. are among the investors who have recently acquired positions in Chicago Atlantic Real Estate Finance. Currently, 25.73% of the stock is owned by institutional investors and hedge funds.
Chicago Atlantic Real Estate Finance is a commercial real estate finance company that originates, structures, and invests in first mortgage loans and alternative structured financings secured by commercial real estate properties. The company specializes in providing senior loans to state-licensed operators in the cannabis industry.
Source: Marketbeat Ratings