Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) Short Interest Update

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

Chicago Atlantic Real Estate Finance Price Performance

Shares of NASDAQ REFI traded up $0.09 during trading on Tuesday, hitting $14.79. The stock had a trading volume of 195,093 shares, compared to its average volume of 107,759. The firm has a fifty day moving average of $15.62 and a two-hundred day moving average of $15.68. The company has a market capitalization of $309.02 million, a PE ratio of 7.40 and a beta of 0.22. Chicago Atlantic Real Estate Finance has a 12 month low of $14.48 and a 12 month high of $16.47.

Chicago Atlantic Real Estate Finance Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.47 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.88 annualized dividend and a yield of 12.71%. Chicago Atlantic Real Estate Finance’s dividend payout ratio (DPR) is 100.00%.

Hedge Funds Weigh In On Chicago Atlantic Real Estate Finance

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Intrepid Capital Management Inc. increased its position in shares of Chicago Atlantic Real Estate Finance by 503.1% during the fourth quarter. Intrepid Capital Management Inc. now owns 711,127 shares of the company’s stock valued at $10,966,000 after acquiring an additional 593,218 shares during the last quarter. Fielder Capital Group LLC increased its position in shares of Chicago Atlantic Real Estate Finance by 8.8% during the 4th quarter. Fielder Capital Group LLC now owns 674,286 shares of the company’s stock valued at $10,397,000 after purchasing an additional 54,605 shares during the last quarter. Tidal Investments LLC raised its stake in shares of Chicago Atlantic Real Estate Finance by 0.9% during the 4th quarter. Tidal Investments LLC now owns 489,926 shares of the company’s stock worth $7,555,000 after purchasing an additional 4,316 shares during the period. State Street Corp grew its position in 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 valued at $6,403,000 after buying an additional 52,497 shares during the period. Finally, Northern Trust Corp increased its holdings in Chicago Atlantic Real Estate Finance by 9.6% during the fourth quarter. Northern Trust Corp now owns 149,804 shares of the company’s stock worth $2,310,000 after buying an additional 13,113 shares during the last quarter. Hedge funds and other institutional investors own 25.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on REFI. Alliance Global Partners assumed coverage on shares of Chicago Atlantic Real Estate Finance in a research note on Tuesday, December 17th. They issued a “buy” rating and a $20.00 price objective on the stock. JMP Securities reiterated a “market outperform” rating and set 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.