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Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) Sees Significant Decrease in Short Interest

Financial News Live · Jan 28, 2023 19:21

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI – Get Rating) saw a large decrease in short interest in January. As of January 15th, there was short interest totalling 75,800 shares, a decrease of 52.4% from the December 31st total of 159,300 shares. Based on an average daily trading volume, of 48,500 shares, the days-to-cover ratio is currently 1.6 days. Currently, 0.7% of the company's shares are sold short.

Chicago Atlantic Real Estate Finance Stock Performance

Shares of NASDAQ REFI traded down $0.07 during mid-day trading on Friday, reaching $15.40. 33,647 shares of the company's stock were exchanged, compared to its average volume of 33,620. The firm has a market capitalization of $271.96 million and a price-to-earnings ratio of 7.78. Chicago Atlantic Real Estate Finance has a 52-week low of $13.87 and a 52-week high of $20.21. The company's 50-day moving average is $15.64 and its 200-day moving average is $15.17.

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Chicago Atlantic Real Estate Finance Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 13th. Investors of record on Friday, December 30th were issued a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a yield of 19.74%. This is a boost from Chicago Atlantic Real Estate Finance's previous quarterly dividend of $0.47. The ex-dividend date of this dividend was Thursday, December 29th. Chicago Atlantic Real Estate Finance's dividend payout ratio (DPR) is 94.95%.

Insider Buying and Selling at Chicago Atlantic Real Estate Finance

In related news, insider Peter Sack bought 2,396 shares of the company's stock in a transaction on Monday, December 12th. The stock was bought at an average cost of $15.86 per share, for a total transaction of $38,000.56. Following the acquisition, the insider now directly owns 5,821 shares in the company, valued at $92,321.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Chicago Atlantic Real Estate Finance news, CEO Anthony Cappell purchased 9,184 shares of the stock in a transaction dated Monday, December 12th. The stock was acquired at an average cost of $15.86 per share, for a total transaction of $145,658.24. Following the acquisition, the chief executive officer now owns 227,454 shares in the company, valued at approximately $3,607,420.44. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Peter Sack purchased 2,396 shares of the stock in a transaction dated Monday, December 12th. The shares were acquired at an average price of $15.86 per share, with a total value of $38,000.56. Following the completion of the acquisition, the insider now owns 5,821 shares in the company, valued at approximately $92,321.06. The disclosure for this purchase can be found here. 8.95% of the stock is owned by company insiders.

Hedge Funds Weigh In On Chicago Atlantic Real Estate Finance

Hedge funds and other institutional investors have recently bought and sold shares of the company. Emfo LLC purchased a new position in Chicago Atlantic Real Estate Finance during the 2nd quarter valued at about $2,317,000. Tiedemann Advisors LLC purchased a new position in Chicago Atlantic Real Estate Finance during the 3rd quarter valued at about $176,000. Everett Harris & Co. CA boosted its holdings in Chicago Atlantic Real Estate Finance by 16.7% during the 3rd quarter. Everett Harris & Co. CA now owns 24,500 shares of the company's stock valued at $353,000 after acquiring an additional 3,500 shares during the period. Evoke Wealth LLC purchased a new position in Chicago Atlantic Real Estate Finance during the 3rd quarter valued at about $1,779,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in Chicago Atlantic Real Estate Finance during the 3rd quarter valued at about $90,000. 15.63% of the stock is currently owned by hedge funds and other institutional investors.

About Chicago Atlantic Real Estate Finance

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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.