Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI – Get Rating) saw a large growth in short interest in the month of December. As of December 15th, there was short interest totalling 108,300 shares, a growth of 36.9% from the November 30th total of 79,100 shares. Based on an average daily volume of 46,000 shares, the days-to-cover ratio is currently 2.4 days. Currently, 0.9% of the shares of the stock are short sold.
Insider Activity at Chicago Atlantic Real Estate Finance
In other Chicago Atlantic Real Estate Finance news, insider Peter Sack bought 2,396 shares of the firm's stock in a transaction that occurred on Monday, December 12th. The shares were bought at an average price of $15.86 per share, with a total value of $38,000.56. Following the purchase, the insider now owns 5,821 shares of the company's stock, valued at $92,321.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Chicago Atlantic Real Estate Finance news, insider Peter Sack bought 2,396 shares of the firm's stock in a transaction that occurred on Monday, December 12th. The shares were bought at an average price of $15.86 per share, with a total value of $38,000.56. Following the purchase, the insider now owns 5,821 shares of the company's stock, valued at $92,321.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Anthony Cappell bought 9,184 shares of the firm's stock in a transaction that occurred on Monday, December 12th. The shares were acquired at an average cost of $15.86 per share, for a total transaction of $145,658.24. Following the purchase, the chief executive officer now directly owns 227,454 shares in the company, valued at approximately $3,607,420.44. The disclosure for this purchase can be found here. 8.95% of the stock is owned by corporate insiders.
Get Chicago Atlantic Real Estate Finance alerts:Institutional Trading of Chicago Atlantic Real Estate Finance
Large investors have recently added to or reduced their stakes in the company. Emfo LLC bought a new stake in Chicago Atlantic Real Estate Finance in the 2nd quarter worth approximately $2,317,000. Everett Harris & Co. CA increased its stake in Chicago Atlantic Real Estate Finance by 16.7% in the 3rd quarter. Everett Harris & Co. CA now owns 24,500 shares of the company's stock worth $353,000 after acquiring an additional 3,500 shares during the last quarter. Tiedemann Advisors LLC bought a new stake in Chicago Atlantic Real Estate Finance in the 3rd quarter worth approximately $176,000. PBMares Wealth Management LLC increased its stake in Chicago Atlantic Real Estate Finance by 98.9% in the 3rd quarter. PBMares Wealth Management LLC now owns 30,110 shares of the company's stock worth $434,000 after acquiring an additional 14,972 shares during the last quarter. Finally, HB Wealth Management LLC purchased a new position in shares of Chicago Atlantic Real Estate Finance in the 3rd quarter worth approximately $288,000. Institutional investors own 15.63% of the company's stock.
Chicago Atlantic Real Estate Finance Price Performance
NASDAQ:REFI opened at $15.07 on Friday. Chicago Atlantic Real Estate Finance has a 1 year low of $13.87 and a 1 year high of $20.29. The stock's 50 day simple moving average is $15.46 and its two-hundred day simple moving average is $15.20. The company has a market cap of $266.14 million and a price-to-earnings ratio of 7.61.Chicago Atlantic Real Estate Finance Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 13th. Shareholders of record on Friday, December 30th will be paid a $0.76 dividend. This is an increase from Chicago Atlantic Real Estate Finance's previous quarterly dividend of $0.47. The ex-dividend date is Thursday, December 29th. This represents a $3.04 dividend on an annualized basis and a yield of 20.17%. Chicago Atlantic Real Estate Finance's payout ratio is presently 94.95%.
Chicago Atlantic Real Estate Finance Company Profile
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Chicago Atlantic Real Estate Finance, Inc operates as a commercial real estate finance company in the United States. It originates, structures, and invests in first mortgage loans and alternative structured financings secured by commercial real estate properties. The company offers senior loans to state-licensed operators and property owners in the cannabis industry.
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