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

Posted by Frank Smitson on Jun 27th, 2024

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI – Get Free Report) declared a quarterly dividend on Friday, June 14th, Zacks reports. Shareholders of record on Friday, June 28th will be given a dividend of 0.47 per share on Monday, July 15th. This represents a $1.88 annualized dividend and a yield of 11.86%. The ex-dividend date is Friday, June 28th.

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 tumble. Analysts expect Chicago Atlantic Real Estate Finance to earn $2.19 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 85.8%.

Chicago Atlantic Real Estate Finance Stock Up 0.3 %

Chicago Atlantic Real Estate Finance stock opened at $15.85 on Thursday. The business has a 50 day moving average price of $15.69 and a two-hundred day moving average price of $15.89. The stock has a market cap of $302.74 million, a price-to-earnings ratio of 7.94 and a beta of 0.21. Chicago Atlantic Real Estate Finance has a 12 month low of $13.86 and a 12 month high of $17.65.

Analyst Upgrades and Downgrades

Several equities analysts have commented on REFI shares. Lake Street Capital raised Chicago Atlantic Real Estate Finance to a “strong-buy” rating in a report on Tuesday, May 7th. JMP Securities reissued a “market outperform” rating and issued a $20.00 target price on shares of Chicago Atlantic Real Estate Finance in a report on Wednesday, March 13th.

Check Out Our Latest Stock Analysis on REFI

About Chicago Atlantic Real Estate Finance

(Get Free Report)

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.