Short Interest in Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) Grows By 40.2%

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

Institutional Investors Weigh In On Chicago Atlantic Real Estate Finance

A number of large investors have recently added to or reduced their stakes in the company. Intrepid Capital Management Inc. increased its position in shares of Chicago Atlantic Real Estate Finance by 503.1% during the 4th quarter. Intrepid Capital Management Inc. now owns 711,127 shares of the company’s stock valued at $10,966,000 after purchasing an additional 593,218 shares during the last quarter. Fielder Capital Group LLC boosted its stake in Chicago Atlantic Real Estate Finance by 8.8% in the fourth quarter. Fielder Capital Group LLC now owns 674,286 shares of the company’s stock worth $10,397,000 after buying an additional 54,605 shares in the last quarter. Tidal Investments LLC grew its position in Chicago Atlantic Real Estate Finance by 0.9% during the fourth quarter. Tidal Investments LLC now owns 489,926 shares of the company’s stock valued at $7,555,000 after acquiring an additional 4,316 shares during the last quarter. State Street Corp raised its stake in shares of Chicago Atlantic Real Estate Finance by 15.1% during the third quarter. State Street Corp now owns 400,790 shares of the company’s stock worth $6,403,000 after acquiring an additional 52,497 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Chicago Atlantic Real Estate Finance by 9.6% in the 4th 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. Hedge funds and other institutional investors own 25.48% of the company’s stock.

Chicago Atlantic Real Estate Finance Price Performance

REFI stock traded down $0.11 during midday trading on Friday, reaching $15.30. The company had a trading volume of 179,185 shares, compared to its average volume of 106,805. The firm has a 50-day moving average price of $15.64 and a 200-day moving average price of $15.69. The company has a market capitalization of $319.68 million, a P/E ratio of 7.65 and a beta of 0.22. Chicago Atlantic Real Estate Finance has a 1 year low of $14.82 and a 1 year high of $16.47.

Chicago Atlantic Real Estate Finance Announces Dividend

The business also recently announced 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 annualized dividend and a yield of 12.29%. Chicago Atlantic Real Estate Finance’s dividend payout ratio (DPR) is presently 100.00%.

Wall Street Analysts Forecast Growth

REFI has been the subject of a number of recent analyst reports. Alliance Global Partners assumed coverage on shares of Chicago Atlantic Real Estate Finance in a research report on Tuesday, December 17th. They set a “buy” rating and a $20.00 price target for the company. JMP Securities restated a “market outperform” rating and set a $20.00 target price on shares of Chicago Atlantic Real Estate Finance in a research report on Thursday, December 19th.

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.