Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) to Issue $0.47 Quarterly Dividend

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) declared a quarterly dividend on Monday, March 17th, RTT News reports. Stockholders of record on Monday, March 31st will be given a dividend of 0.47 per share on Tuesday, April 15th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 12.11%. The ex-dividend date is Monday, March 31st.

Chicago Atlantic Real Estate Finance has a dividend payout ratio of 81.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Research analysts expect Chicago Atlantic Real Estate Finance to earn $1.94 per share next year, which means the company should continue to be able to cover its $1.88 annual dividend with an expected future payout ratio of 96.9%.

Chicago Atlantic Real Estate Finance Stock Down 0.1 %

Shares of NASDAQ REFI opened at $15.52 on Wednesday. The firm has a market cap of $324.27 million, a price-to-earnings ratio of 7.76 and a beta of 0.22. Chicago Atlantic Real Estate Finance has a 52-week low of $14.82 and a 52-week high of $16.47. The business’s 50 day moving average is $15.63 and its two-hundred day moving average is $15.71.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on REFI. Alliance Global Partners initiated coverage on shares of Chicago Atlantic Real Estate Finance in a 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 issued a $20.00 price target on shares of Chicago Atlantic Real Estate Finance in a research note 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.