Chicago Atlantic Real Estate Finance, Inc. - Common Stock (REFI)
15.38
-0.10 (-0.65%)
Chicago Atlantic Real Estate Finance, Inc. is a real estate investment company that primarily focuses on originating and managing commercial real estate loans, particularly within the cannabis sector
By providing financing solutions to both established and emerging cannabis operators, the company aims to capitalize on the growing opportunities within this industry. Their investment strategy emphasizes the acquisition of high-quality, income-producing properties while ensuring they adhere to regulatory standards. Through careful asset management and strategic partnerships, Chicago Atlantic seeks to deliver attractive returns for its investors while supporting the expansion of the cannabis market.
Chicago Atlantic Real Estate Finance Inc (REFI) is engaged in a commercial real estate finance company. REFI’s share price rose 2.6% in the past year from $15.81 to $16.22 as of Thursday’s market close.
Chicago Atlantic will issue its earnings release and supplemental financial information for the third quarter on Thursday, Nov.7.New Lake will host its third quarter earnings conference call on Thursday, Nov. 14, 2024, at 11:00 am Eastern Time.Cresco will report financial results for the third quarter that ended Sept. 30, 2024 on Friday, Nov. 8, before the market opens.
Marijuana companies would be "treated like normal businesses," If the oppressive restrictions of Section 280E of the Internal Revenue Code, which prevents cannabis businesses from deducting typical business expenses, go away.
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.
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.
REFI stock results show that Chicago Atlantic Real missed analyst estimates for earnings per share and missed on revenue for the first quarter of 2024.
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.
Massachusetts-based integrated cannabis operator Nova Farms has received a $20 million loan facility from Chicago Atlantic Real Estate Finance. 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 upon the state's legalization of recreational cannabis back in 2016. Chicago Atlantic's capital investment is expected to back Nova Farms' efforts to expand its footprint of dispensaries in key states, namely New Jersey and Connecticut.
Cannabis-focused commercial real estate finance company Chicago Atlantic Real Estate Finance, Inc. announced on Tuesday results for the fourth quarter and year ended December 31, 2023. The company reported on Tuesday total loan commitments of roughly $378.8 million – including $371.3 million funded and $7.5 million in future fundings - as of Dec. 31, 2023, across 27 portfolio investments. Net income in the fourth quarter was approximately $9.4 million, or $0.51 per weighted average diluted share, representing a sequential decrease of 5.8%, primarily due to the aforementioned increase in net management and incentive fees. Net Income was approximately $38.7 million in 2023, compared to $32.3 million in last year.
