Stock events for Chicago Atlantic Real Estate Finance, Inc. (REFI)
In the past six months, REFI's stock has experienced some fluctuations. As of April 2, 2026, the stock price was $11.01. REFI has underperformed the broader US market and the US Mortgage REITs industry over the last year. In the last three months, REFI returned -3.2%, while the SPY returned -1.8%. During the Q4 2025 earnings call, the company reported an EPS of $0.43, missing the forecast of $0.46, but the stock rose 0.41% pre-market. Net interest income increased by 4% to $14.2 million, and the company declared a Q4 dividend of $0.47 per share. Management projects a FY2026 EPS of $1.86. Distributable earnings of $0.44 per share fell short of the $0.47 quarterly dividend.
Demand Seasonality affecting Chicago Atlantic Real Estate Finance, Inc.’s stock price
The demand for Chicago Atlantic Real Estate Finance's services is influenced by the expansion of cannabis legalization, which requires capital expenditures by operators. The underlying demand for REFI's services is driven by the regulatory landscape and growth of the cannabis industry. The company's ability to capture growth is tied to expanding cannabis legalization and the refinancing needs that accelerate with it.
Overview of Chicago Atlantic Real Estate Finance, Inc.’s business
Chicago Atlantic Real Estate Finance, Inc. (REFI) is a commercial mortgage REIT specializing in financing the cannabis industry in the United States. The company focuses on delivering risk-adjusted returns through current income and capital appreciation by originating, structuring, and investing in first mortgage loans secured by commercial real estate properties. REFI distributes at least 90% of its taxable income to stockholders as a REIT.
REFI’s Geographic footprint
Chicago Atlantic Real Estate Finance, Inc. operates primarily within the United States, focusing on providing financing to state-licensed cannabis operators in limited-license states.
REFI Corporate Image Assessment
Chicago Atlantic Real Estate Finance has a "Moderate Buy" consensus rating from analysts, with an average rating score of 2.67. The company's MarketRank™ score indicates it performed better than 75% of companies evaluated by MarketBeat. Analysts have a consensus price target of $14.00, suggesting a potential upside of approximately 21.6% from its current price. The Q4 2025 distributable earnings falling short of the quarterly dividend could impact its reputation.
Ownership
As of April 7, 2026, institutional ownership was 32.86%, and insider transactions over six months accounted for 1.54%.
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$11.92
