Streetbeat News

REFI

Chicago Atlantic Real Estate Finance, Inc.

https://investors.refi.reit

Industry

REIT - Mortgage

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. It has elected to be taxed as a real estate investment trust (REIT) and would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its stockholders. The company was incorporated in 2021 and is based in Chicago, Illinois.

Open

15.66

Mkt cap

309M

Volume

130K

High

15.95

P/E Ratio

8.01

52-wk high

17.65

Low

15.47

Div yield

0.14

52-wk low

14.82

Chicago Atlantic Real Estate Finance (NASDAQ:REFI) is outperforming its peers in the cannabis capital providers and mortgage REIT sectors due to its premium valuation, high dividend yield, and robust growth track record. REFI trades at a 3% premium to its book value and offers a 12.2% dividend yield, supported by a solid dividend coverage ratio and special cash dividends. Despite an increase in leverage, REFI maintains a conservative risk profile and a strong growth track record, making it an attractive investment.

Portfolio Pulse from Nicolás Jose Rodriguez

July 05, 2024 | 3:02 pm

The article discusses the financial performance and investment potential of cannabis-focused REITs such as Innovative Industrial Properties (IIPR), NewLake Capital Partners (NLCP), and Chicago Atlantic Real Estate Finance (REFI). These REITs are showing strong growth and high yields, yet they are undervalued compared to industry averages, suggesting potential investment opportunities.

Portfolio Pulse from Nicolás Jose Rodriguez

June 14, 2024 | 8:10 pm

The article discusses the performance of various cannabis industry subsectors following the HHS announcement on rescheduling. It highlights the stock price movements of ag-tech, cannabis lenders, hemp, and software/media sectors, mentioning specific companies like Scotts Miracle Grow, GrowGeneration, Hydrofarm, Urban Gro, IIPR, NewLake, Chicago Atlantic, AFC Gamma, Silver Spike, and Leafly. The article suggests that while plant-touching stocks have seen significant gains, ancillary sectors like lenders, ag-tech, and software/media offer attractive investment opportunities with less risk.

Portfolio Pulse from Viridian Capital Advisors

May 20, 2024 | 3:51 pm

Chicago Atlantic Real Estate Finance (NASDAQ:REFI), a cannabis-focused REIT, reported a net income dip in Q1 2024, with net interest income falling 10.8% sequentially to $13.2 million due to the absence of prepayment fees. Total expenses decreased by 28.4%, and net income per share dropped 7.8%. The company saw a slight increase in book value per share to $14.97 and reaffirmed its 2024 outlook. Portfolio growth remained strong, with total loan commitments exceeding $401.3 million. The DEA's potential rescheduling of cannabis could significantly benefit the industry and REFI's shareholders.

Portfolio Pulse from Patricio Liddle

May 07, 2024 | 4:18 pm

Chicago Atlantic Real Estate Finance has affirmed its 2024 outlook that was initially issued on March 12, indicating confidence in its future financial performance.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 11:45 am

Chicago Atlantic Real (NASDAQ:REFI) reported Q1 2024 adjusted EPS of $0.52, missing the $0.53 estimate, and sales of $13.240M, below the $15.888M estimate. This represents a decrease from the previous year's earnings and sales.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 11:05 am

Chicago Atlantic Real Estate Finance (NASDAQ:REFI) is highlighted for its growth and resilience in the cannabis sector, with a bullish Overweight rating from Zuanic & Associates. The report compares REFI favorably against AFC Gamma (NASDAQ:AFCG), noting its superior loan portfolio performance and lower non-accruals. REFI's dividend is expected to increase, and its stock has shown an 11% year-on-year growth. The analysis also mentions other significant stocks in the sector, including MSOS (ETF: MSOS), IIPR (NYSE:IIPR), NLCP (OTC:NLCP), and SSIC (NASDAQ:SSIC), each offering unique investment opportunities in the cannabis market.

Portfolio Pulse from Nicolás Jose Rodriguez

April 12, 2024 | 2:00 pm

Zuanic & Associates analyst Pablo Zuanic initiates coverage on Chicago Atlantic Real (NASDAQ:REFI) with an Overweight rating, indicating a positive outlook on the company's stock.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 11:03 am

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) has provided a $20 million loan facility to Massachusetts-based cannabis operator Nova Farms. This funding aims to support Nova Farms' expansion in New Jersey and Connecticut, enhancing its footprint of dispensaries. Nova Farms, which operates a cultivation farm, seven retail brands, and five dispensaries across Massachusetts, Maine, and New Jersey, plans its next retail opening for late 2024. The partnership is expected to bolster Nova Farms' position in the cannabis market by accelerating its strategic plans and ensuring a competitive edge.

Portfolio Pulse from Jelena Martinovic

April 09, 2024 | 5:18 pm

JMP Securities analyst Aaron Hecht reiterates a Market Outperform rating on Chicago Atlantic Real (REFI) and maintains a $20 price target.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 3:47 pm

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