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Phillip Silverman, the Chief Financial Officer of Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI), recently acquired shares of the company’s common stock. On April 9, Silverman purchased 769 shares at a weighted average price of $13.00 per share, totaling approximately $9,997.
Following this transaction, Silverman now directly owns 39,054 shares of the company. The acquisition reflects Silverman's continued investment in Chicago Atlantic, a real estate investment trust based in Chicago. The company maintains strong financial health with a notable 18.56% dividend yield and liquid assets exceeding short-term obligations. InvestingPro subscribers can access detailed analysis and 5 additional key insights about REFI's investment potential through the comprehensive Pro Research Report.
In other recent news, Chicago Atlantic Real Estate Finance reported its fourth-quarter 2024 earnings, which showed a notable miss on both earnings per share (EPS) and revenue forecasts. The company posted an EPS of $0.39, falling short of the anticipated $0.50, and reported revenue of $14.07 million, below the forecasted $14.53 million. JMP analysts maintained their Market Outperform rating and $20 price target for Chicago Atlantic, despite the earnings miss. They attributed the shortfall to higher management and incentive fees, which are expected to normalize. The analysts highlighted the overall strength of the quarter and the absence of issues within Chicago Atlantic's investment portfolio. The company continues to navigate challenges in the U.S. cannabis industry, with its diversified portfolio and strong credit quality noted as positive aspects. Looking forward, Chicago Atlantic aims to maintain a 90-100% dividend payout ratio in 2025, with the potential for a special dividend. The firm remains focused on deploying capital cautiously amid ongoing regulatory and market challenges.
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