Chicago Atlantic Q2 FY23 Net Income Grows 15.8% YoY, Here Are The Details
Portfolio Pulse from Vuk Zdinjak
Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) reported Q2 FY23 net income of $8.6 million, up 15.8% YoY. Net interest income was $13.7 million, down 8.3% sequentially but up 19.9% YoY. Total expenses were $3.9 million, down 5.8% sequentially, mainly due to a $0.3 million decrease in net management and incentive fees. The company paid a regular quarterly cash dividend of $0.47 per share for Q2 2023. The company reaffirmed its 2023 outlook.
August 09, 2023 | 12:59 pm
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Chicago Atlantic's Q2 FY23 results show a YoY increase in net income and net interest income, despite a sequential decrease. The company also paid a regular quarterly dividend.
The YoY increase in net income and net interest income, despite a sequential decrease, indicates a positive financial performance for Chicago Atlantic. The payment of a regular quarterly dividend also signals the company's financial stability. These factors could potentially have a positive impact on the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100