Chicago Atlantic Real Estate Finance, Inc. reports developments as a commercial mortgage real estate investment trust focused on real estate-backed credit. The company originates senior secured loans primarily to state-licensed cannabis operators in limited-license U.S. markets, with news centered on portfolio activity, loan yields, borrower credit conditions, leverage and the cannabis regulatory environment.
Recurring updates include quarterly financial results, earnings conference calls, common stock dividend declarations and annual tax reporting for REIT distributions. Company announcements also address capital structure items such as secured revolving credit facility borrowings and senior unsecured notes, along with investment activity tied to its commercial mortgage portfolio.
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.
Chicago Atlantic Real Estate Finance (NASDAQ: REFI) reported second quarter results for 2022, showing total interest income of approximately $11.9 million and net income of about $7.5 million, or $0.42 per diluted share. The company's strategy focuses on lending within limited-license states, resulting in a strong portfolio with a weighted average yield of 17.7%. With total loan commitments around $357.1 million, the company expects to maintain its $0.47 quarterly dividend and projects Adjusted Distributable Earnings of $1.00 to $1.05 per share for the second half of 2022.
Chicago Atlantic Real Estate Finance, Inc. (NASDAQ: REFI) plans to release its second quarter earnings on August 9, 2022, before market opening. A conference call for investors will occur the same day at 9:00 a.m. ET. Participants can access the call via phone or through a live audio webcast available on the company’s Investor Relations website. A replay will be accessible for a week following the event. Chicago Atlantic specializes in providing senior secured loans to state-licensed cannabis operators across limited-license states in the U.S.
Chicago Atlantic Real Estate Finance (NASDAQ: REFI) announced a 17.5% increase in its quarterly cash dividend to $0.47 per share for Q2 2022, equating to an annualized rate of $1.88. The dividend will be paid on July 15, 2022 to shareholders of record by June 30, 2022. Executive Chairman John Mazarakis expressed confidence in the company's portfolio performance, highlighting strong demand for debt capital from cannabis operators.
Chicago Atlantic Real Estate Finance (NASDAQ: REFI) announced an increase in its secured revolving credit facility from $45 million to $65 million. This amendment, effective immediately, allows for the loan's maturity to extend to December 16, 2023, with an option for a one-year extension. The loan will have an interest rate ranging from 0% to 1.25% above the Prime Rate, maintaining a minimum floor of 3.25%. The Company plans to utilize these funds for additional loans and general corporate purposes, enhancing its capacity to support growth.
Chicago Atlantic Real Estate Finance (NASDAQ: REFI) reported robust financial results for Q1 2022, including total interest income of approximately $9.8 million and net income of $7.8 million, or $0.44 per diluted share. The company boasts a loan funding pipeline of $911 million, with $86.7 million funded during the quarter. A notable increase in the regular quarterly dividend to $0.40 per share reflects a 53.8% rise from Q4 2021. As of May 10, 2022, total loan commitments reached approximately $337.3 million. The portfolio's weighted average yield to maturity improved to approximately 17.5%.
Chicago Atlantic Real Estate Finance, Inc. (NASDAQ: REFI) has announced the release of its earnings report for Q1 2022, scheduled for May 12, 2022, before market opening. The company will host a conference call at 10:00 AM ET on the same day, which will be accessible to the public. Chicago Atlantic specializes in providing senior secured loans to state-licensed cannabis operators. The earnings release and conference details emphasize the company's commitment to transparency and investor engagement.
Chicago Atlantic Real Estate Finance, Inc. (NASDAQ: REFI) will be presenting at the Sidoti March Virtual Investor Conference on March 23, 2022, starting at 12:15 p.m. ET. This conference allows the Company to engage in one-on-one meetings with investors. Interested parties can access the presentation live via a provided link and are encouraged to register for the event. Chicago Atlantic specializes in originating loans to state-licensed cannabis operators, aiming to qualify as a REIT under the Internal Revenue Code.
Chicago Atlantic Real Estate Finance, Inc. (NASDAQ: REFI) reported strong financial results for Q4 2021, with a net income of approximately $4.4 million, or $0.57 per share, and adjusted distributable earnings of $4.6 million. The company has funded $114.7 million in loans since its IPO, targeting the cannabis sector and expanding its loan commitments to $324.2 million as of March 2022. A 53.8% increase in quarterly dividends to $0.40 per share was announced, reflecting confidence in ongoing business growth and market position.