Chicago Atlantic Real Estate Finance, Inc. operates as a real estate finance company in the United States. The company originates, structures, and invests in first mortgage loans and alternative structured financings secured by commercial real estate properties. It offers senior loans to state-licensed operators and property owners in the cannabis industry. The company 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. Chicago Atlantic Real Estate Finance, Inc. was incorporated in 2021 and is based in Chicago, Illinois.
IPO Year: 2021
Exchange: NASDAQ
Date | Price Target | Rating | Analyst |
---|---|---|---|
9/5/2023 | $16.00 | Buy → Neutral | Compass Point |
9/1/2023 | $16.00 | Neutral | Piper Sandler |
1/3/2022 | $23.00 | Buy | Lake Street |
1/3/2022 | $26.00 | Mkt Outperform | JMP Securities |
1/3/2022 | $17.00 | Outperform | Oppenheimer |
1/3/2022 | $22.00 | Buy | Compass Point |
SC 13G - Chicago Atlantic Real Estate Finance, Inc. (0001867949) (Subject)
4 - Chicago Atlantic Real Estate Finance, Inc. (0001867949) (Issuer)
10-Q - Chicago Atlantic Real Estate Finance, Inc. (0001867949) (Filer)
8-K - Chicago Atlantic Real Estate Finance, Inc. (0001867949) (Filer)
8-K - Chicago Atlantic Real Estate Finance, Inc. (0001867949) (Filer)
8-K - Chicago Atlantic Real Estate Finance, Inc. (0001867949) (Filer)
10-Q - Chicago Atlantic Real Estate Finance, Inc. (0001867949) (Filer)
8-K - Chicago Atlantic Real Estate Finance, Inc. (0001867949) (Filer)
8-K - Chicago Atlantic Real Estate Finance, Inc. (0001867949) (Filer)
10-Q - Chicago Atlantic Real Estate Finance, Inc. (0001867949) (Filer)
ARS - Chicago Atlantic Real Estate Finance, Inc. (0001867949) (Filer)
DEF 14A - Chicago Atlantic Real Estate Finance, Inc. (0001867949) (Filer)
4 - Chicago Atlantic Real Estate Finance, Inc. (0001867949) (Issuer)
4 - Chicago Atlantic Real Estate Finance, Inc. (0001867949) (Issuer)
4 - Chicago Atlantic Real Estate Finance, Inc. (0001867949) (Issuer)
4 - Chicago Atlantic Real Estate Finance, Inc. (0001867949) (Issuer)
4 - Chicago Atlantic Real Estate Finance, Inc. (0001867949) (Issuer)
4 - Chicago Atlantic Real Estate Finance, Inc. (0001867949) (Issuer)
4 - Chicago Atlantic Real Estate Finance, Inc. (0001867949) (Issuer)
4 - Chicago Atlantic Real Estate Finance, Inc. (0001867949) (Issuer)
4 - Chicago Atlantic Real Estate Finance, Inc. (0001867949) (Issuer)
4 - Chicago Atlantic Real Estate Finance, Inc. (0001867949) (Issuer)
Compass Point downgraded Chicago Atlantic Real Estate Finance from Buy to Neutral and set a new price target of $16.00
Piper Sandler initiated coverage of Chicago Atlantic Real Estate Finance with a rating of Neutral and set a new price target of $16.00
Lake Street initiated coverage of Chicago Atlantic Real Estate Finance with a rating of Buy and set a new price target of $23.00
JMP Securities initiated coverage of Chicago Atlantic Real Estate Finance with a rating of Mkt Outperform and set a new price target of $26.00
Oppenheimer initiated coverage of Chicago Atlantic Real with a rating of Outperform and set a new price target of $17.00
Compass Point initiated coverage of Chicago Atlantic Real with a rating of Buy and set a new price target of $22.00
CHICAGO, Nov. 07, 2024 (GLOBE NEWSWIRE) -- Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) ("Chicago Atlantic" or the "Company"), a commercial mortgage real estate investment trust, today announced its results for the third quarter ended September 30, 2024. Peter Sack, Co-Chief Executive Officer, noted, "We have managed our portfolio and its maturities very well throughout 2024 with extensions, modifications and refinancings while improving credit quality and loan coverage. We knew this was the year to rise to this opportunity by sticking to our stringent underwriting and working collaboratively with our borrowers. I am pleased with how we have responded. A strong pipeline in bot
CHICAGO, Oct. 23, 2024 (GLOBE NEWSWIRE) -- Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) ("Chicago Atlantic" or the "Company"), a commercial mortgage real estate investment trust, today announced that the Company entered into a $50.0 million unsecured term loan from two institutional private lending platforms to fund the Company's future investments and other general corporate purposes. The unsecured term loan matures in October 2028, is interest only and bears a fixed cash interest rate of 9.0%. The Company can prepay the term loan in whole or in part at any time and from time to time subject to applicable prepayment penalties. The full balance of the loan was drawn at closing
CHICAGO, Oct. 17, 2024 (GLOBE NEWSWIRE) -- Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) ("Chicago Atlantic" or the "Company"), a commercial mortgage real estate investment trust, announced details for the release of its results for the third quarter ended September 30, 2024. The Company plans to issue its earnings release and supplemental financial information before the market opens on Thursday, November 7, 2024. Chicago Atlantic will host a conference call and live audio webcast, both open for the general public to hear, later that day at 9:00 a.m. Eastern Time. The number to call for this interactive teleconference is (833) 630-1956 (international callers: 412-317-1837). T
Silver Spike Investment Corp. renamed Chicago Atlantic BDC, Inc. NASDAQ Ticker to be Changed to LIEN Chicago Atlantic today announced that Silver Spike Investment Corp. ("SSIC" or the "Company"), a specialty finance company that has elected to be regulated as a business development company, acquired a portfolio of loans (the "CALP Loan Portfolio") from Chicago Atlantic Loan Portfolio, LLC ("CALP"), a Chicago Atlantic-managed fund, in exchange for newly issued shares of the Company's common stock (the "Loan Portfolio Acquisition"). As a result of the Loan Portfolio Acquisition, CALP and legacy SSIC stockholders own approximately 72.8% and 27.2%, respectively, of the outstanding shares of t
CHICAGO, Sept. 16, 2024 (GLOBE NEWSWIRE) -- Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI), a commercial mortgage real estate investment trust, announced that its board of directors has declared a regular quarterly cash dividend of $0.47 per share for the third quarter of 2024. The regular quarterly dividend, which equates to an annualized rate of $1.88 per common share, is payable on October 15, 2024, to shareholders of record as of the close of business on September 30, 2024. About Chicago Atlantic Real Estate Finance, Inc.Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) is a market-leading commercial mortgage REIT utilizing significant real estate, credit and cannabis
CHICAGO, Aug. 07, 2024 (GLOBE NEWSWIRE) -- Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) ("Chicago Atlantic" or the "Company"), a commercial mortgage real estate investment trust, today announced its results for the second quarter ended June 30, 2024. John Mazarakis, Executive Chairman of Chicago Atlantic, noted, "The pace and direction of federal and state regulations are creating a tailwind in the cannabis industry. The comment period closed on DEA rescheduling with an overwhelmingly positive response – nearly 90% were in favor. The Ohio adult use rollout is happening as we speak, and Florida adult use is on the ballot in November. We have already seen a positive impact to ou
CHICAGO, July 18, 2024 (GLOBE NEWSWIRE) -- Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) ("Chicago Atlantic" or the "Company"), a commercial mortgage real estate investment trust, announced details for the release of its results for the second quarter ended June 30, 2024. The Company plans to issue its earnings release before the market opens on Wednesday, August 7, 2024, and will host a conference call later that day at 9:00 a.m. Eastern Time. Interested parties may access the conference call live via webcast on Chicago Atlantic's investor relations website or may participate via telephone by registering using this online form. Upon registration, all telephone participants wil
CHICAGO, June 14, 2024 (GLOBE NEWSWIRE) -- Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI), a commercial mortgage real estate investment trust, announced that its board of directors has declared a regular quarterly cash dividend of $0.47 per share for the second quarter of 2024. The regular quarterly dividend, which equates to an annualized rate of $1.88 per common share, is payable on July 15, 2024, to shareholders of record as of the close of business on June 28, 2024. About Chicago Atlantic Real Estate Finance, Inc.Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) is a market-leading commercial mortgage REIT utilizing significant real estate, credit and cannabis experti
CHICAGO, May 07, 2024 (GLOBE NEWSWIRE) -- Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) ("Chicago Atlantic" or the "Company"), a commercial mortgage real estate investment trust, today announced its results for the first quarter ended March 31, 2024. John Mazarakis, Executive Chairman of Chicago Atlantic, noted, "We are thrilled with progress toward regulatory reform resulting from the recent news of the DEA's commitment to the rescheduling of cannabis. Once enacted, the policy change is likely to bring significant benefits to the U.S. cannabis industry, including the elimination of punitive federal tax burdens, increased access to capital, and increased employment and investme
CHICAGO, April 17, 2024 (GLOBE NEWSWIRE) -- Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) ("Chicago Atlantic" or the "Company"), a commercial mortgage real estate investment trust, announced details for the release of its results for the first quarter ended March 31, 2024. The Company plans to issue its earnings release before the market opens on Tuesday, May 7, 2024, and will host a conference call later that day at 9:00 a.m. Eastern Time. Interested parties may access the conference call live via webcast on Chicago Atlantic's investor relations website or may participate via telephone by registering using this online form. Upon registration, all telephone participants will re
CHICAGO, Nov. 07, 2024 (GLOBE NEWSWIRE) -- Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) ("Chicago Atlantic" or the "Company"), a commercial mortgage real estate investment trust, today announced its results for the third quarter ended September 30, 2024. Peter Sack, Co-Chief Executive Officer, noted, "We have managed our portfolio and its maturities very well throughout 2024 with extensions, modifications and refinancings while improving credit quality and loan coverage. We knew this was the year to rise to this opportunity by sticking to our stringent underwriting and working collaboratively with our borrowers. I am pleased with how we have responded. A strong pipeline in bot
CHICAGO, Oct. 17, 2024 (GLOBE NEWSWIRE) -- Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) ("Chicago Atlantic" or the "Company"), a commercial mortgage real estate investment trust, announced details for the release of its results for the third quarter ended September 30, 2024. The Company plans to issue its earnings release and supplemental financial information before the market opens on Thursday, November 7, 2024. Chicago Atlantic will host a conference call and live audio webcast, both open for the general public to hear, later that day at 9:00 a.m. Eastern Time. The number to call for this interactive teleconference is (833) 630-1956 (international callers: 412-317-1837). T
CHICAGO, Sept. 16, 2024 (GLOBE NEWSWIRE) -- Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI), a commercial mortgage real estate investment trust, announced that its board of directors has declared a regular quarterly cash dividend of $0.47 per share for the third quarter of 2024. The regular quarterly dividend, which equates to an annualized rate of $1.88 per common share, is payable on October 15, 2024, to shareholders of record as of the close of business on September 30, 2024. About Chicago Atlantic Real Estate Finance, Inc.Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) is a market-leading commercial mortgage REIT utilizing significant real estate, credit and cannabis
CHICAGO, Aug. 07, 2024 (GLOBE NEWSWIRE) -- Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) ("Chicago Atlantic" or the "Company"), a commercial mortgage real estate investment trust, today announced its results for the second quarter ended June 30, 2024. John Mazarakis, Executive Chairman of Chicago Atlantic, noted, "The pace and direction of federal and state regulations are creating a tailwind in the cannabis industry. The comment period closed on DEA rescheduling with an overwhelmingly positive response – nearly 90% were in favor. The Ohio adult use rollout is happening as we speak, and Florida adult use is on the ballot in November. We have already seen a positive impact to ou
CHICAGO, July 18, 2024 (GLOBE NEWSWIRE) -- Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) ("Chicago Atlantic" or the "Company"), a commercial mortgage real estate investment trust, announced details for the release of its results for the second quarter ended June 30, 2024. The Company plans to issue its earnings release before the market opens on Wednesday, August 7, 2024, and will host a conference call later that day at 9:00 a.m. Eastern Time. Interested parties may access the conference call live via webcast on Chicago Atlantic's investor relations website or may participate via telephone by registering using this online form. Upon registration, all telephone participants wil
CHICAGO, June 14, 2024 (GLOBE NEWSWIRE) -- Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI), a commercial mortgage real estate investment trust, announced that its board of directors has declared a regular quarterly cash dividend of $0.47 per share for the second quarter of 2024. The regular quarterly dividend, which equates to an annualized rate of $1.88 per common share, is payable on July 15, 2024, to shareholders of record as of the close of business on June 28, 2024. About Chicago Atlantic Real Estate Finance, Inc.Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) is a market-leading commercial mortgage REIT utilizing significant real estate, credit and cannabis experti
CHICAGO, May 07, 2024 (GLOBE NEWSWIRE) -- Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) ("Chicago Atlantic" or the "Company"), a commercial mortgage real estate investment trust, today announced its results for the first quarter ended March 31, 2024. John Mazarakis, Executive Chairman of Chicago Atlantic, noted, "We are thrilled with progress toward regulatory reform resulting from the recent news of the DEA's commitment to the rescheduling of cannabis. Once enacted, the policy change is likely to bring significant benefits to the U.S. cannabis industry, including the elimination of punitive federal tax burdens, increased access to capital, and increased employment and investme
CHICAGO, April 17, 2024 (GLOBE NEWSWIRE) -- Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) ("Chicago Atlantic" or the "Company"), a commercial mortgage real estate investment trust, announced details for the release of its results for the first quarter ended March 31, 2024. The Company plans to issue its earnings release before the market opens on Tuesday, May 7, 2024, and will host a conference call later that day at 9:00 a.m. Eastern Time. Interested parties may access the conference call live via webcast on Chicago Atlantic's investor relations website or may participate via telephone by registering using this online form. Upon registration, all telephone participants will re
CHICAGO, March 15, 2024 (GLOBE NEWSWIRE) -- Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI), a commercial mortgage real estate investment trust, announced that its board of directors has declared a regular quarterly cash dividend of $0.47 per share for the first quarter of 2024. The regular quarterly dividend, which equates to an annualized rate of $1.88 per common share, is payable on April 15, 2024, to shareholders of record as of the close of business on March 28, 2024. About Chicago Atlantic Real Estate Finance, Inc.Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) is a market-leading commercial mortgage REIT utilizing significant real estate, credit and cannabis exp
CHICAGO, March 12, 2024 (GLOBE NEWSWIRE) -- Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) ("Chicago Atlantic" or the "Company"), a commercial mortgage real estate investment trust, today announced its results for the fourth quarter and year ended December 31, 2023. John Mazarakis, Executive Chairman of Chicago Atlantic noted, "The improvement in the regulatory landscape has fed new investment opportunities for us while significantly improving the equity value of many of our borrowers. In addition, the wall of debt maturities we have anticipated among the larger cannabis operators is beginning to occur, with early indications this opportunity could be as meaningful over th
Chicago Atlantic Real Estate Finance (NASDAQ:REFI) stands out in the cannabis capital providers and mortgage REIT (mREIT) sectors due to its premium valuation, impressive dividend yield, and robust growth track record. Pablo Zuanic, a senior equity analyst, noted in a recent report, "Of the six publicly listed cannabis capital providers, five are NASDAQ listed, being NLCP (OTC:NLCP) the exception. However, some may not currently provide the right comp due to poor liquidity, size, and relative newness." Performance And Valuation Comparison REFI trades at a 3% premium to its book value, reflecting strong investor confidence in its growth prospects. This stands in contrast to other cannabis
With increasing state-level legalizations, real estate investment trusts (REITs) such as Innovative Industrial Properties, Inc. (NYSE:IIPR) NewLake Capital Partners, Inc. (OTCQX:NLCP) and Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) are funds that provide capital, navigating the dissonance between state and federal laws. Brad Thomas, real estate analyst and author of "REITs For Dummies," discusses the valuation of these stocks and the role REITs play in the cannabis industry. The aggregate financial engagement (considering committed capital and equivalent significant activities) between Innovative Industrial Properties and Chicago Atlantic is approximately $4.5 billion. Indu
The graph depicts the stock price performance of baskets of stocks in six different cannabis industry subsectors. Each basket consists of the top four or five U.S. companies in each group. The stocks in each basket are equally weighted, and the basket prices are indexed so that August 25, 2023 (the Friday before the HHS announcement) equals 100. Hundreds of articles (our own included) have analyzed the critical benefits of 280e removal, and, as expected, MSO prices have traded over 2x pre-HHS levels since the beginning of the year. We remain surprised that neither the PR Newswire leak of the DEA intentions nor Biden’s announcement has significantly rallied plant-touching stocks furthe
Chicago Atlantic Real Estate Finance (NASDAQ:REFI), a cannabis-focused commercial real estate finance company, announced on Tuesday its financial results for the first quarter ended March 31, 2024. Q1 2024 Financial Highlights Net interest income stands at about $13.2 million, marking a sequential decline of 10.8% from the $14.8 million recorded in the fourth quarter of 2023. This downturn stems from the absence of prepayments and related fees received during the first quarter of 2024, compared to $1.8 million in prepayment fees and accelerated original issue discounts in the three months ended December 31, 2023. Total expenses amount to around $4.1 million before the provision for
Chicago Atlantic Real (NASDAQ:REFI) reported quarterly earnings of $0.52 per share which missed the analyst consensus estimate of $0.53 by 1.89 percent. This is a 16.13 percent decrease over earnings of $0.62 per share from the same period last year. The company reported quarterly sales of $13.240 million which missed the analyst consensus estimate of $15.888 million by 16.67 percent. This is a 11.19 percent decrease over sales of $14.909 million the same period last year.
In a recent equity research report by Zuanic & Associates, Chicago Atlantic Real Estate Finance (NASDAQ:REFI) showcases resilience and growth within the volatile cannabis sector. Pablo Zuanic, senior analyst, highlights REFI's premium trading status over mortgage REITs, underpinned by its exceptional growth trajectory and reliable dividend yields, signaling a bullish Overweight rating. Zuanic’s analysis suggests the stock will perform better than others in its sector, thanks to its strong growth and steady dividends. Interested in the latest developments in the industry? Stay abreast at the upcoming Benzinga Cannabis Capital Conference in Florida on April 16-17. The two-day event at The D
Zuanic & Associates analyst Pablo Zuanic initiates coverage on Chicago Atlantic Real (NASDAQ:REFI) with a Overweight rating.
Massachusetts-based integrated cannabis operator Nova Farms has received a $20 million loan facility from Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI). Nova Farms manages a Massachusetts cultivation farm, seven retail brands and five full-service dispensaries across the Bay State, Maine and New Jersey. It was among the first businesses to secure licenses in Massachusetts when the state legalized recreational cannabis in 2016. See also: Cannabis REIT Chicago Atlantic’s Net Income Grows 20% YoY In 2023 Entrepreneurs looking to build a company in the cannabis space often wonder what the best strategy for raising capital is. To learn more about this important topic, join
JMP Securities analyst Aaron Hecht reiterates Chicago Atlantic Real (NASDAQ:REFI) with a Market Outperform and maintains $20 price target.