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Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI – Get Rating) was the recipient of a large decrease in short interest in September. As of September 15th, there was short interest totalling 60,000 shares, a decrease of 19.6% from the August 31st total of 74,600 shares. Based on an average daily volume of 70,700 shares, the days-to-cover ratio is presently 0.8 days. Currently, 0.5% of the shares of the stock are sold short.
Chicago Atlantic Real Estate Finance Stock Performance
NASDAQ REFI traded down $0.57 during trading hours on Thursday, hitting $14.42. The company had a trading volume of 700 shares, compared to its average volume of 75,870. The business has a 50 day moving average of $15.08 and a 200-day moving average of $16.13. Chicago Atlantic Real Estate Finance has a 1-year low of $13.87 and a 1-year high of $20.29.
Chicago Atlantic Real Estate Finance Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 13.04%. The ex-dividend date is Thursday, September 29th.
Wall Street Analyst Weigh In
Separately, EF Hutton Acquisition Corp I dropped their price objective on Chicago Atlantic Real Estate Finance from $21.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday, August 10th. Five analysts have rated the stock with a buy rating, According to MarketBeat, Chicago Atlantic Real Estate Finance currently has a consensus rating of “Buy” and an average price target of $21.80.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in REFI. Commonwealth Equity Services LLC bought a new position in shares of Chicago Atlantic Real Estate Finance during the first quarter valued at approximately $212,000. Nisa Investment Advisors LLC acquired a new position in shares of Chicago Atlantic Real Estate Finance in the first quarter worth $35,000. New York State Common Retirement Fund bought a new stake in Chicago Atlantic Real Estate Finance during the first quarter valued at about $105,000. Everett Harris & Co. CA bought a new stake in Chicago Atlantic Real Estate Finance during the first quarter valued at about $372,000. Finally, Point72 Hong Kong Ltd bought a new stake in Chicago Atlantic Real Estate Finance during the fourth quarter valued at about $117,000. Institutional investors and hedge funds own 13.65% of the company’s stock.
Chicago Atlantic Real Estate Finance Company Profile
(Get Rating)
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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