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

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) announced a quarterly dividend on Monday, March 17th, RTT News reports. Investors 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 annualized dividend and a yield of 12.28%.

Chicago Atlantic Real Estate Finance has a 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 tumble. Equities 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 Price Performance

NASDAQ:REFI opened at $15.31 on Monday. The company’s 50-day moving average is $15.63 and its two-hundred day moving average is $15.71. Chicago Atlantic Real Estate Finance has a 1-year low of $14.82 and a 1-year high of $16.47. The firm has a market capitalization of $319.89 million, a price-to-earnings ratio of 7.66 and a beta of 0.22.

Analyst Ratings Changes

Several research firms have issued reports on REFI. JMP Securities reissued a “market outperform” rating and set a $20.00 target price on shares of Chicago Atlantic Real Estate Finance in a research note on Thursday, December 19th. Alliance Global Partners started coverage on Chicago Atlantic Real Estate Finance in a research report on Tuesday, December 17th. They set a “buy” rating and a $20.00 price objective for the company.

Chicago Atlantic Real Estate Finance Company Profile

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.