Symbols / REFI Stock $11.50 -0.69% Chicago Atlantic Real Estate Finance, Inc.

Real Estate • REIT - Mortgage • United States • NGM
REFI (Stock) Chart
O: — H: — L: — C: — V: —
SMA 20: — SMA 50: — SMA 200: —
Stock Fundamentals
Scroll to Statements
Index EQUITY
Sector Real Estate
Industry REIT - Mortgage
CEO Mr. Anthony Robert Cappell
Exch · Country NGM · United States
Market Cap 243.89M
Enterprise Value 334.17M
Income 30.81M
Sales 49.83M
FCF (ttm) —
Book/sh 14.60
Cash/sh 1.31
Employees —
Insider 10d —
IPO Dec 08, 2021
Div forward ($/yr)
Div TTM ($/yr)
Dividend Yield
Ex-Div Date
5Y Avg Yield
Yield vs 5Y Avg
Payout 130.56%
P/E 7.99
Forward P/E 5.99
PEG —
P/S 4.89
P/B 0.79
P/C —
EV/EBITDA —
EV/Sales 6.71
Quick Ratio 30.37
Current Ratio 30.37
Debt/Eq 38.38
LT Debt/Eq —
EPS (ttm) 1.44
EPS next Y 1.92
EPS Growth -51.10%
Revenue Growth -34.20%
EPS Gr Q/Q -51.80%
Rev Gr Q/Q —
Earnings (next) 2026-08-06
Earnings (prior) 2026-05-07
ROA 7.24%
ROE 10.03%
ROIC —
Gross Margin 100.00%
Oper. Margin 54.34%
Profit Margin 61.83%
Shs Outstand 21.21M
Shs Float 17.97M
Insider Own 13.33%
Instit Own 32.71%
Short Float 4.59%
Short Ratio 5.81
Short Interest 909.61K
52W High 15.20
vs 52W High -24.34%
52W Low 10.74
vs 52W Low 7.08%
Beta 0.32
Impl. Vol. 34.55%
Rel Volume 0.24
Avg Volume 165.89K
Volume 39.08K
Target (mean) $16.00
Tgt Median $16.00
Tgt Low $12.00
Tgt High $20.00
# Analysts 4
Recom Buy
Prev Close $11.58
Price $11.50
Change -0.69%
About

Chicago Atlantic Real Estate Finance, Inc. operates as a commercial mortgage real estate investment trust in the United States. It engages in originating, structuring, and investing in first mortgage loans and alternative structured financings secured by commercial real estate properties. The company's loan portfolio is comprised of senior loans to state-licensed operators in the cannabis industry. It has elected to be taxed as a real estate investment trust (REIT) and would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its stockholders. Chicago Atlantic Real Estate Finance, Inc. was incorporated in 2021 and is based in Miami Beach, Florida.

Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$16.00
Mean price target
2. Current target
$11.50
Latest analyst target
3. DCF / Fair value
$21.60
Fallback: EPS × 15 (assumed fair P/E). No FCF data; use with …
Ratings
Current target
$11.50
Low
$12.00
High
$20.00
Mean
$16.00

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2025-03-17 reit Citizens Capital Markets Market Outperform → Market Outperform $20
2024-12-19 reit JMP Securities Market Outperform → Market Outperform $20
2024-12-17 init Alliance Global Partners — → Buy $20
2024-12-09 main Zuanic & Associates Overweight → Overweight —
2024-04-11 init Zuanic & Associates — → Overweight —
2024-03-13 reit JMP Securities Market Outperform → Market Outperform $20
2023-12-05 init Zuanic & Associates — → Overweight —
2023-09-05 down Compass Point Buy → Neutral $16
2023-09-01 init Piper Sandler — → Neutral $16
2023-08-15 reit JMP Securities Market Outperform → Market Outperform $20
2023-05-17 main Compass Point Buy → Buy $16
2023-05-10 reit JMP Securities — → Market Outperform $20
2023-05-10 reit EF Hutton — → Buy $16
2023-04-13 reit JMP Securities — → Market Outperform $20
2023-03-14 main Compass Point Buy → Buy $15
2023-03-10 reit JMP Securities — → Market Outperform $20
2023-03-09 reit EF Hutton — → Buy $18
2022-08-10 main EF Hutton — → Buy $20
2022-05-13 main JMP Securities — → Market Outperform $22
2022-04-18 init EF Hutton — → Buy $21
News
RSS: Latest REFI news
Insider Transactions
Filed Date Insider Relationship Transaction Shares Price Value SEC
2026-04-20 PAPASTAVROU JASON D Director — 6,324 $0.00 $0
2026-04-20 MAZARAKIS JOHN MICHAEL Officer and Director — 37,099 $0.00 $0
2026-04-20 KONIGSBERG BRANDON Director — 6,324 $0.00 $0
2026-04-20 CAPPELL ANTHONY Chief Executive Officer — 37,099 $0.00 $0
2026-04-20 SACK PETER S. Chief Executive Officer — 37,099 $0.00 $0
2026-04-20 KITE DAVID President — 37,099 $0.00 $0
2026-04-20 SILVERMAN PHILLIP Chief Financial Officer — 32,462 $0.00 $0
2026-04-20 STAVOLA ELIZABETH M Director — 6,324 $0.00 $0
2025-10-16 MAZARAKIS JOHN MICHAEL Officer and Director — 8,000 $12.75 $102,000
2025-10-15 PAPASTAVROU JASON D Director — 18,000 $12.62 $227,740
Financials
Statement View
Amounts in millions (2 decimals, no suffix) • EPS per share (2 decimals) • Trend = period evolution • YoY Growth = previous period %
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Revenue
55.56
+1.41%
54.78
-4.44%
57.33
+17.34%
48.86
Operating Revenue
55.56
+1.41%
54.78
-4.44%
57.33
+17.34%
48.86
Selling General And Administration
8.67
+2.67%
8.45
+25.34%
6.74
+70.03%
3.96
General And Administrative Expense
8.67
+2.67%
8.45
+25.34%
6.74
+70.03%
3.96
Salaries And Wages
3.37
+10.14%
3.06
+106.70%
1.48
+239.68%
0.44
Other Gand A
5.30
-1.57%
5.39
+2.45%
5.26
+49.09%
3.53
Net Income
36.01
-2.79%
37.05
-4.30%
38.71
+19.87%
32.29
Pretax Income
36.01
-2.79%
37.05
-4.30%
38.71
+19.87%
32.29
Net Interest Income
55.39
+0.80%
54.95
-3.84%
57.15
+16.97%
48.86
Interest Expense
7.55
+5.49%
7.15
+24.34%
5.75
+120.07%
2.61
Interest Income
62.94
+1.34%
62.10
-1.27%
62.90
+22.20%
51.47
Gain On Sale Of Security
0.17
+198.11%
-0.17
-193.23%
0.18
0.00
Tax Provision
0.00
0.00
0.00
0.00
Tax Rate For Calcs
0.00
0.00
0.00
0.00
Tax Effect Of Unusual Items
0.00
0.00
0.00
0.00
Net Income Including Noncontrolling Interests
36.01
-2.79%
37.05
-4.30%
38.71
+19.87%
32.29
Net Income From Continuing Operation Net Minority Interest
36.01
-2.79%
37.05
-4.30%
38.71
+19.87%
32.29
Net Income From Continuing And Discontinued Operation
36.01
-2.79%
37.05
-4.30%
38.71
+19.87%
32.29
Net Income Continuous Operations
36.01
-2.79%
37.05
-4.30%
38.71
+19.87%
32.29
Normalized Income
36.01
-2.79%
37.05
-4.30%
38.71
+19.87%
32.29
Net Income Common Stockholders
36.01
-2.79%
37.05
-4.30%
38.71
+19.87%
32.29
Diluted EPS
—
1.88
-10.90%
2.11
+15.93%
1.82
Basic EPS
—
1.92
-10.28%
2.14
+16.94%
1.83
Basic Average Shares
—
19.28
+6.60%
18.09
+2.44%
17.65
Diluted Average Shares
—
19.71
+7.47%
18.34
+3.37%
17.75
Diluted NI Availto Com Stockholders
36.01
-2.79%
37.05
-4.30%
38.71
+19.87%
32.29
Other Non Interest Expense
8.20
+1.74%
8.06
-8.21%
8.78
+33.84%
6.56
Professional Expense And Contract Services Expense
1.94
+7.03%
1.81
-15.92%
2.15
+0.11%
2.15
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Assets
424.92
-2.35%
435.15
+21.14%
359.23
+4.65%
343.27
Cash And Cash Equivalents
14.95
-43.38%
26.40
+234.27%
7.90
+38.18%
5.72
Cash Financial
—
—
—
5.72
Receivables
5.20
+7.79%
4.82
+334.08%
1.11
-7.73%
1.20
Accounts Receivable
4.01
+175.81%
1.45
+44.78%
1.00
-16.63%
1.20
Other Receivables
—
—
—
1.02
Investments And Advances
—
—
0.84
—
Total Liabilities Net Minority Interest
117.10
-7.20%
126.19
+44.43%
87.37
+10.27%
79.24
Payables And Accrued Expenses
17.82
-9.37%
19.66
+2.60%
19.16
+4.64%
18.31
Payables
17.82
-9.37%
19.66
+2.60%
19.16
+4.64%
18.31
Accounts Payable
1.35
+17.35%
1.15
+1.20%
1.14
+7.30%
1.06
Other Payable
3.10
+8.22%
2.86
-11.73%
3.24
-1.57%
3.30
Dividends Payable
11.16
-17.99%
13.61
-1.89%
13.87
+1.82%
13.62
Current Debt And Capital Lease Obligation
49.10
-10.73%
55.00
-16.67%
66.00
+13.79%
58.00
Current Debt
49.10
-10.73%
55.00
-16.67%
66.00
+13.79%
58.00
Long Term Debt And Capital Lease Obligation
49.33
+0.49%
49.10
-25.61%
66.00
+13.79%
58.00
Long Term Debt
49.33
+0.49%
49.10
-25.61%
66.00
+13.79%
58.00
Long Term Provisions
0.01
-99.02%
1.30
+20.75%
1.07
-42.46%
1.87
Non Current Deferred Liabilities
—
—
—
1.87
Non Current Deferred Revenue
—
—
—
1.87
Stockholders Equity
307.81
-0.37%
308.96
+13.65%
271.85
+2.96%
264.03
Common Stock Equity
307.81
-0.37%
308.96
+13.65%
271.85
+2.96%
264.03
Capital Stock
0.21
+1.21%
0.21
+14.46%
0.18
+2.89%
0.18
Common Stock
0.21
+1.21%
0.21
+14.46%
0.18
+2.89%
0.18
Share Issued
21.08
+1.21%
20.83
+14.46%
18.20
+2.42%
17.77
Ordinary Shares Number
21.08
+1.21%
20.83
+14.46%
18.20
+2.42%
17.77
Additional Paid In Capital
323.13
+1.33%
318.89
+14.92%
277.48
+3.16%
269.00
Retained Earnings
-15.52
-53.12%
-10.14
-74.42%
-5.81
-13.07%
-5.14
Total Equity Gross Minority Interest
307.81
-0.37%
308.96
+13.65%
271.85
+2.96%
264.03
Total Capitalization
357.15
-0.25%
358.05
+5.98%
337.85
+4.91%
322.03
Invested Capital
406.25
-1.65%
413.05
+22.26%
337.85
+4.91%
322.03
Total Debt
98.43
-5.44%
104.10
+57.72%
66.00
+13.79%
58.00
Net Debt
83.49
+7.45%
77.70
+33.72%
58.10
+11.13%
52.28
Net Tangible Assets
307.81
-0.37%
308.96
+13.65%
271.85
+2.96%
264.03
Tangible Book Value
307.81
-0.37%
308.96
+13.65%
271.85
+2.96%
264.03
Available For Sale Securities
—
—
0.84
—
Cash Cash Equivalents And Federal Funds Sold
14.95
-43.38%
26.40
+234.27%
7.90
+38.18%
5.72
Line Of Credit
49.10
-10.73%
55.00
-16.67%
66.00
+13.79%
58.00
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Operating Cash Flow
28.79
+24.32%
23.16
-18.50%
28.42
+67.10%
17.01
Cash Flow From Continuing Operating Activities
28.79
+24.32%
23.16
-18.50%
28.42
+67.10%
17.01
Net Income From Continuing Operations
36.01
-2.79%
37.05
-4.30%
38.71
+19.87%
32.29
Other Non Cash Items
-1.37
-262.69%
0.84
+226.77%
-0.66
+90.44%
-6.92
Stock Based Compensation
3.37
+10.14%
3.06
+106.70%
1.48
+239.68%
0.44
Operating Gains Losses
—
-0.07
+30.88%
-0.10
—
Gain Loss On Investment Securities
0.00
+100.00%
-0.07
+30.88%
-0.10
0.00
Unrealized Gain Loss On Investment Securities
-0.17
-168.58%
0.24
+418.24%
-0.08
0.00
Change In Working Capital
-1.84
+72.80%
-6.78
-35584.30%
0.02
+100.18%
-10.38
Change In Receivables
-0.85
+75.93%
-3.53
-8565.01%
0.04
+103.74%
-1.11
Changes In Account Receivables
-2.56
-468.40%
-0.45
-324.54%
0.20
+119.89%
-1.01
Change In Payables And Accrued Expense
0.29
-59.63%
0.72
-6.78%
0.77
-83.07%
4.55
Change In Payable
0.29
-59.63%
0.72
-6.78%
0.77
-83.07%
4.55
Change In Account Payable
-0.12
-110.55%
1.11
+556.90%
0.17
-77.95%
0.76
Change In Other Working Capital
-1.29
+67.64%
-3.97
-400.64%
-0.79
+94.26%
-13.82
Investing Cash Flow
8.74
+122.23%
-39.30
-1940.95%
-1.93
+98.46%
-125.24
Cash Flow From Continuing Investing Activities
8.74
+122.23%
-39.30
-1940.95%
-1.93
+98.46%
-125.24
Financing Cash Flow
-48.98
-241.40%
34.64
+242.50%
-24.31
-172.12%
33.71
Cash Flow From Continuing Financing Activities
-48.98
-241.40%
34.64
+242.50%
-24.31
-172.12%
33.71
Net Issuance Payments Of Debt
-5.90
-115.13%
39.00
+387.50%
8.00
-86.21%
58.00
Issuance Of Debt
142.10
-32.01%
209.00
+154.88%
82.00
+41.38%
58.00
Repayment Of Debt
-148.00
+12.94%
-170.00
-129.73%
-74.00
0.00
Long Term Debt Issuance
142.10
-32.01%
209.00
+154.88%
82.00
+41.38%
58.00
Long Term Debt Payments
-148.00
+12.94%
-170.00
-129.73%
-74.00
0.00
Net Long Term Debt Issuance
-5.90
-115.13%
39.00
+387.50%
8.00
-86.21%
58.00
Net Common Stock Issuance
1.03
-97.39%
39.59
+448.18%
7.22
+60.30%
4.51
Common Stock Dividend Paid
-43.84
-5.31%
-41.63
-6.38%
-39.13
-38.90%
-28.17
Cash Dividends Paid
-43.84
-5.31%
-41.63
-6.38%
-39.13
-38.90%
-28.17
Net Other Financing Charges
-0.27
+88.33%
-2.32
-484.50%
-0.40
+36.56%
-0.63
Changes In Cash
-11.45
-161.89%
18.50
+747.87%
2.18
+102.93%
-74.53
Beginning Cash Position
26.40
+234.27%
7.90
+38.18%
5.72
-92.88%
80.25
End Cash Position
14.95
-43.38%
26.40
+234.27%
7.90
+38.18%
5.72
Free Cash Flow
28.79
+24.32%
23.16
-18.50%
28.42
+67.10%
17.01
Income Tax Paid Supplemental Data
6.94
+11.83%
6.21
+23.34%
5.03
+202.92%
1.66
Common Stock Issuance
1.03
-97.39%
39.59
+448.18%
7.22
+60.30%
4.51
Interest Paid CFO
-6.16
+32.63%
-9.15
+3.28%
-9.46
-36.67%
-6.92
Issuance Of Capital Stock
1.03
-97.39%
39.59
+448.18%
7.22
+60.30%
4.51
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

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