Chicago Atlantic Real Estate Finance, Inc. Stock Price, News & Analysis

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ: REFI) has declared a quarterly cash dividend of $0.47 per share for Q1 2023, amounting to an annualized rate of $1.88. This dividend is payable on April 14, 2023, to shareholders on record by the close of business on March 31, 2023. Following recent banking sector instability, the company has confirmed it has no exposure to Silicon Valley Bank, Signature Bank New York, or First Republic Bank. Chicago Atlantic specializes in providing senior secured loans primarily to state-licensed cannabis operators across limited-license states, with a portfolio exceeding $1.8 billion across more than 50 loans.

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ: REFI) reported its fourth quarter and full year 2022 financial results. The company achieved net interest income of approximately $14.8 million for Q4, up 14.1% sequentially, with total expenses at $5 million. Net income decreased by 25.7% to $7.3 million, largely due to current expected credit loss provisions. The full year net income was about $32.3 million, with a total dividend declared of $2.10 per share. For 2023, Chicago Atlantic plans to maintain a dividend payout ratio of 90% to 100% and expects a minimum regular dividend of $0.47 per share. The company has a strong portfolio yield of 19.7% as of year-end.

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ: REFI) announced an extension of its $92.5 million secured revolving credit facility maturity from December 16, 2023, to December 16, 2024. The extension was finalized through an amendment with six FDIC-insured financial institutions, retaining a one-year extension option. The revolving loan bears interest at the Prime Rate plus an Applicable Margin based on leverage, currently aligned with the Prime Rate, which has a 3.25% floor. Executive Chairman John Mazarakis expressed satisfaction with the extended maturity, indicating ongoing efforts to expand the facility and its lending group.

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ: REFI) announced it will release its fourth quarter results for 2022 on March 9, 2023, prior to market opening. The Company will host a conference call at 9:00 a.m. ET that same day to discuss the results. Interested parties can access the call via webcast or telephone registration. Chicago Atlantic specializes in providing senior secured loans to state-licensed cannabis operators in limited-license states across the U.S., having deployed over $1.8 billion across 50 loans. The upcoming earnings report is anticipated to be a focal point for investors.

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ: REFI) completed a registered direct offering of 395,779 shares at $15.16 per share, raising approximately $6 million in net proceeds. The shares were sold directly to institutional investors under the effective shelf registration statement. The funds will be used to support a robust loan pipeline and for general corporate purposes. Executive Chairman John Mazarakis emphasized a disciplined capital raising approach aimed at funding higher-yielding loans to state-licensed cannabis operators in limited-license states across the U.S.

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ: REFI) has declared a quarterly cash dividend of $0.47 per share for Q4 2022, totaling an annualized rate of $1.88. This is payable on January 13, 2023, to shareholders of record as of December 30, 2022. Additionally, the company announced a special cash dividend of $0.29 per share for the 2022 tax year, also payable on January 13. Executive Chairman John Mazarakis stated that the combined regular and special dividends of $1.81 reflect their effective capital redeployment amidst expected economic challenges in 2023.

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ: REFI) reported strong Q3 2022 results, exceeding expectations with a net income of approximately $9.8 million ($0.55 per diluted share), a 31.0% increase sequentially. Net interest income rose by 13.4% to $12.9 million, while total expenses decreased 1.1% to $2.9 million. The company increased its full-year earnings guidance to $2.01-$2.05 per share, up from $1.95-$2.00. As of September 30, 2022, the leverage ratio was at 20.0%, with a book value of $15.23 per share.

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ: REFI) will showcase its investment strategies at the Sidoti September Virtual Investor Conference on September 21-22, 2022. The company’s presentation is scheduled for 10:00 a.m. ET on September 21 and will be accessible live online. Investors can register for the presentation and one-on-one meetings through Sidoti's website. Chicago Atlantic specializes in securing loans primarily for state-licensed cannabis operators in the U.S., leveraging deep real estate and credit expertise.

Chicago Atlantic Real Estate Finance (NASDAQ: REFI) declared a quarterly cash dividend of $0.47 per share for Q3 2022, equating to an annualized rate of $1.88. The dividend will be payable on October 14, 2022 to shareholders of record as of September 30, 2022. Additionally, the company is set to release its Q3 earnings on November 9, 2022, before the market opens, with a conference call scheduled for 9:00 a.m. Eastern Time on that day.