Chicago Atlantic Real Estate Finance, Inc. (REFI)Real Estate | REIT - Mortgage | Miami Beach, United States | NasdaqGM
12.11 USD
+0.25
(2.108%)
⇧
(April 17, 2026, 4 p.m.
EDT)
After hours: 12.04 -0.07 (-0.070%) ⇩ (April 17, 2026, 6:54 p.m. EDT) Short-term: ★★☆☆☆ | Long-term: ☆☆☆☆☆ | Dividends: ★☆☆☆☆ |
Hot Take | April 19, 2026, 12:16 a.m. EDT
Despite a historically massive dividend yield of ~16%, REFI is a speculative short-term play and an absolute trap for long-term value investors. The underlying economics are collapsing: ROE is negative (-175%), payout ratio exceeds 110% indicating dividend cuts are imminent, and the stock trades near its 52-week lows against a high market risk score. Options data confirms a 'bare' market where speculators are aggressively buying cheap downside protection while valuing upside potential at a fraction of the strike. |
| Model | MAE |
|---|---|
| AutoETS ✓ | 0.023459 |
| AutoARIMA | 0.023634 |
| AutoTheta | 0.023758 |
| MSTL | 0.025229 |
Forecast horizon: 45 days | Selected: AutoETS
| Forecast Reliability | |
|---|---|
| Score | 60% |
| H-stat | 2.01 |
| Ljung-Box p | 0.000 |
| Jarque-Bera p | 0.230 |
| Excess Kurtosis | -0.64 |
| Attribute | Value |
|---|---|
| Sector | Real Estate |
| Ex Dividend Date | 2026-03-30 |
| Last Dividend Date | 2026-03-30 |
| Debt to Equity Ratio | 31.979 |
| Revenue per Share | 2.602 |
| Market Cap | 255,282,080 |
| Trailing P/E | 7.21 |
| Forward P/E | 6.31 |
| Beta | 0.30 |
| Profit Margins | 65.88% |
| Website | https://www.refi.reit |
As of April 19, 2026, 12:16 a.m. EDT: Implied volatility is elevated and skewed heavily towards downside protection. For April 17, PUT ATM IV (4.09) is nearly 6x higher than CALL ATM IV (0.69). Significant put flow is concentrated at deep out-of-the-money strikes (7.5 and 10.0), with the 10.0 strike showing massive net selling pressure (16 vol vs 85 OI relative to larger strikes, though 7.5 has higher volume). However, the 4.10 put strike shows unusual net buying (108 vol vs 7 OI), suggesting active hedging or positioning against downside risk. Call flow is negligible and only slightly bullish at the 15.0 strike (21% OI increase relative to benchmarks, but low absolute volume). The market is explicitly pricing in significant downside risk.
| Last Yield | 1yr Yield | 3yr Avg | 5yr Avg |
|---|---|---|---|
| 4.15% | 15.90% | 17.32% | — |
| Date | Dividend | Yield % |
|---|---|---|
| 2026-03-31 | 0.47 | 4.151944 |
| 2025-12-31 | 0.47 | 3.994623 |
| 2025-09-30 | 0.47 | 3.975765 |
| 2025-06-30 | 0.47 | 3.778210 |
| 2025-03-31 | 0.47 | 3.708297 |
| 2024-12-31 | 0.65 | 5.043978 |
| 2024-09-30 | 0.47 | 3.779466 |
| 2024-06-28 | 0.47 | 3.931503 |
| 2024-03-27 | 0.47 | 3.968691 |
| 2023-12-28 | 0.76 | 6.462283 |
| 2023-09-28 | 0.47 | 4.561885 |
| 2023-06-29 | 0.47 | 4.593131 |
| 2023-03-30 | 0.47 | 5.381295 |
| 2022-12-29 | 0.76 | 7.966375 |
| 2022-09-29 | 0.47 | 5.336447 |
| 2022-06-29 | 0.47 | 5.158212 |
| 2022-03-30 | 0.40 | 3.953244 |
| Attribute | Value |
|---|---|
| 52 Week Change | -0.13314247 |
| Address1 | 1,680 Michigan Avenue |
| Address2 | Suite 700 |
| All Time High | 20.29 |
| All Time Low | 10.74 |
| Ask | 15.27 |
| Ask Size | 2 |
| Audit Risk | 6 |
| Average Daily Volume10 Day | 131,810 |
| Average Daily Volume3 Month | 156,546 |
| Average Volume | 156,546 |
| Average Volume10Days | 131,810 |
| Beta | 0.298 |
| Bid | 8.58 |
| Bid Size | 2 |
| Board Risk | 10 |
| Book Value | 14.602 |
| City | Miami Beach |
| Compensation As Of Epoch Date | 1,672,444,800 |
| Compensation Risk | 6 |
| Country | United States |
| Crypto Tradeable | 0 |
| Currency | USD |
| Current Price | 12.11 |
| Current Ratio | 25.909 |
| Custom Price Alert Confidence | HIGH |
| Date Short Interest | 1,774,915,200 |
| Day High | 12.13 |
| Day Low | 11.8338 |
| Debt To Equity | 31.979 |
| Display Name | Chicago Atlantic Real Estate Finance |
| Dividend Date | 1,776,211,200 |
| Dividend Rate | 1.88 |
| Dividend Yield | 15.52 |
| Earnings Call Timestamp End | 1,778,158,800 |
| Earnings Call Timestamp Start | 1,778,158,800 |
| Earnings Growth | -0.033 |
| Earnings Quarterly Growth | 0.03 |
| Earnings Timestamp | 1,778,157,000 |
| Earnings Timestamp End | 1,778,157,000 |
| Earnings Timestamp Start | 1,778,157,000 |
| Ebitda Margins | 0.0 |
| Enterprise To Revenue | 6.198 |
| Enterprise Value | 338,767,680 |
| Eps Forward | 1.92 |
| Eps Trailing Twelve Months | 1.68 |
| Esg Populated | 0 |
| Ex Dividend Date | 1,774,915,200 |
| Exchange | NGM |
| Exchange Data Delayed By | 0 |
| Exchange Timezone Name | America/New_York |
| Exchange Timezone Short Name | EDT |
| Fifty Day Average | 11.937 |
| Fifty Day Average Change | 0.17299938 |
| Fifty Day Average Change Percent | 0.014492702 |
| Fifty Two Week Change Percent | -13.314247 |
| Fifty Two Week High | 15.2 |
| Fifty Two Week High Change | -3.0900002 |
| Fifty Two Week High Change Percent | -0.20328948 |
| Fifty Two Week Low | 10.74 |
| Fifty Two Week Low Change | 1.3699999 |
| Fifty Two Week Low Change Percent | 0.12756051 |
| Fifty Two Week Range | 10.74 - 15.2 |
| Financial Currency | USD |
| First Trade Date Milliseconds | 1,638,973,800,000 |
| Float Shares | 18,042,394 |
| Forward Eps | 1.92 |
| Forward P E | 6.3072915 |
| Full Exchange Name | NasdaqGM |
| Gmt Off Set Milliseconds | -14,400,000 |
| Governance Epoch Date | 1,775,001,600 |
| Gross Margins | 1.0 |
| Gross Profits | 54,659,348 |
| Has Pre Post Market Data | 1 |
| Held Percent Insiders | 0.14374 |
| Held Percent Institutions | 0.33498 |
| Implied Shares Outstanding | 21,080,272 |
| Industry | REIT - Mortgage |
| Industry Disp | REIT - Mortgage |
| Industry Key | reit-mortgage |
| Ipo Expected Date | 2,021-12-08 |
| Is Earnings Date Estimate | 0 |
| Language | en-US |
| Last Dividend Date | 1,774,915,200 |
| Last Dividend Value | 0.47 |
| Last Fiscal Year End | 1,767,139,200 |
| Long Business Summary | 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. |
| Long Name | Chicago Atlantic Real Estate Finance, Inc. |
| Market | us_market |
| Market Cap | 255,282,080 |
| Market State | CLOSED |
| Max Age | 86,400 |
| Message Board Id | finmb_1680938231 |
| Most Recent Quarter | 1,767,139,200 |
| Net Income To Common | 36,010,480 |
| Next Fiscal Year End | 1,798,675,200 |
| Non Diluted Market Cap | 255,282,093 |
| Number Of Analyst Opinions | 4 |
| Open | 11.95 |
| Operating Cashflow | 28,792,608 |
| Operating Margins | 0.57695997 |
| Overall Risk | 9 |
| Payout Ratio | 1.119 |
| Phone | 312 625 9295 |
| Post Market Change | -0.069999695 |
| Post Market Change Percent | -0.5780322 |
| Post Market Price | 12.04 |
| Post Market Time | 1,776,466,470 |
| Previous Close | 11.86 |
| Price Hint | 2 |
| Price To Book | 0.82933843 |
| Price To Sales Trailing12 Months | 4.670419 |
| Profit Margins | 0.65882003 |
| Quick Ratio | 25.909 |
| Quote Source Name | Nasdaq Real Time Price |
| Quote Type | EQUITY |
| Recommendation Key | none |
| Region | US |
| Regular Market Change | 0.25 |
| Regular Market Change Percent | 2.10793 |
| Regular Market Day High | 12.13 |
| Regular Market Day Low | 11.8338 |
| Regular Market Day Range | 11.8338 - 12.13 |
| Regular Market Open | 11.95 |
| Regular Market Previous Close | 11.86 |
| Regular Market Price | 12.11 |
| Regular Market Time | 1,776,456,000 |
| Regular Market Volume | 153,986 |
| Return On Assets | 0.083739996 |
| Return On Equity | 0.11677 |
| Revenue Growth | 0.027 |
| Revenue Per Share | 2.602 |
| Sand P52 Week Change | 0.38150132 |
| Sector | Real Estate |
| Sector Disp | Real Estate |
| Sector Key | real-estate |
| Share Holder Rights Risk | 9 |
| Shares Outstanding | 21,080,272 |
| Shares Percent Shares Out | 0.0555 |
| Shares Short | 1,169,415 |
| Shares Short Previous Month Date | 1,772,150,400 |
| Shares Short Prior Month | 518,776 |
| Short Name | Chicago Atlantic Real Estate Fi |
| Short Percent Of Float | 0.060399998 |
| Short Ratio | 5.89 |
| Source Interval | 15 |
| State | FL |
| Symbol | REFI |
| Target High Price | 20.0 |
| Target Low Price | 12.0 |
| Target Mean Price | 16.0 |
| Target Median Price | 16.0 |
| Total Cash | 14,948,884 |
| Total Cash Per Share | 0.709 |
| Total Debt | 98,434,456 |
| Total Revenue | 54,659,348 |
| Tradeable | 0 |
| Trailing Annual Dividend Rate | 1.88 |
| Trailing Annual Dividend Yield | 0.15851602 |
| Trailing Eps | 1.68 |
| Trailing P E | 7.2083335 |
| Trailing Peg Ratio | None |
| Triggerable | 1 |
| Two Hundred Day Average | 12.8147 |
| Two Hundred Day Average Change | -0.70470047 |
| Two Hundred Day Average Change Percent | -0.05499157 |
| Type Disp | Equity |
| Volume | 153,986 |
| Website | https://www.refi.reit |
| Zip | 33,139 |