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Chicago Atlantic Real Estate Finance, Inc. (REFI)

Real Estate | REIT - Mortgage | Miami Beach, United States | NasdaqGM
10.68 USD +0.01 (0.094%) ⇧ (Aug. 28, 2026, 4 p.m. EDT)
After hours: 10.60 -0.08 (-0.080%) ⇩ (Aug. 28, 2026, 7:30 p.m. EDT)
Short-term:★★☆☆☆Long-term:★★☆☆☆Dividends:★⯪☆☆☆
Hot Take ↕ | Aug. 22, 2026, 5:15 a.m. EDT

The investment case here is fundamentally compromised by a payout ratio exceeding 138%, meaning the company is distributing more cash than it earns. This is a classic sign of distress financing, where dividends are being funded by debt or asset liquidation rather than operational profits. While the 17.7% yield looks attractive on the surface, it is a trap; the business is shrinking with negative revenue and earnings growth, and the balance sheet is deteriorating under heavy debt loads. The price action confirms this, showing a multi-year decline with the most recent year also down. Options markets are screaming 'sell,' with traders buying deep protection while hoping for a temporary relief rally. There is no sustainable growth story here, and the high yield is merely the cost of borrowing money to pay shareholders while the ship sinks.
Model Selection — Backtest MAE (log-scale, lower is better)
ModelMAE
AutoETS ✓0.046826
AutoTheta0.052502
MSTL0.059811
AutoARIMA0.061182

Forecast horizon: 45 days | Selected: AutoETS

Forecast Reliability
Score 50%
H-stat 23.72
Ljung-Box p 0.000
Jarque-Bera p 0.413
Excess Kurtosis -0.90
Attribute Value
Sector Real Estate
Ex Dividend Date 2026-06-29
Last Dividend Date 2026-06-29
Debt to Equity Ratio 46.578
Revenue per Share 2.312
Market Cap 273,633,856
Trailing P/E 7.85
Forward P/E 5.56
Beta 0.32
Profit Margins 60.21%
Website https://www.refi.reit

As of Aug. 22, 2026, 5:15 a.m. EDT: Speculators are heavily positioning for downside protection, evidenced by massive open interest in out-of-the-money puts expiring in October compared to negligible put volume in September and January. Call activity is concentrated in out-of-the-money strikes, suggesting a speculative hope for a bounce, but the overwhelming put weight indicates a dominant fear of further decline.

Dividend Data

Yield Summary
Last Yield 1yr Yield 3yr Avg 5yr Avg
4.38% 16.04% 14.61% —
Dividend History
Date Dividend Yield %
2026-06-30 0.47 4.384328
2026-03-31 0.47 4.151944
2025-12-31 0.47 3.833605
2025-09-30 0.47 3.674746
2025-06-30 0.47 3.366762
2025-03-31 0.47 3.197279
2024-12-31 0.65 4.215305
2024-09-30 0.47 3.030303
2024-06-28 0.47 3.059896
2024-03-27 0.47 2.995539
2023-12-28 0.76 4.735203
2023-09-28 0.47 3.197279
2023-06-29 0.47 3.118779
2023-03-30 0.47 3.544495
2022-12-29 0.76 5.066667
2022-09-29 0.47 3.230241
2022-06-29 0.47 3.024453
2022-03-30 0.40 2.249719
Additional Data
dividendRate 1.88
dividendYield 17.6
exDividendDate 2026-06-30
trailingAnnualDividendRate 1.88
trailingAnnualDividendYield 0.17619494
lastDividendValue 0.47
lastDividendDate 2026-06-30
dividendDate 2026-07-15

Info Dump

Attribute Value
52 Week Change -0.24788731
Address1 1,680 Michigan Avenue
Address2 Suite 700
All Time High 20.29
All Time Low 9.69
Ask 12.76
Ask Size 2
Audit Risk 4
Average Analyst Rating 2.0 - Buy
Average Daily Volume10 Day 166,960
Average Daily Volume3 Month 169,663
Average Volume 169,663
Average Volume10Days 166,960
Beta 0.319
Bid 7.17
Bid Size 2
Board Risk 10
Book Value 14.152
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 10.68
Current Ratio 26.607
Custom Price Alert Confidence HIGH
Date Short Interest 1,786,665,600
Day High 10.74
Day Low 10.585
Debt To Equity 46.578
Display Name Chicago Atlantic Real Estate Finance
Dividend Date 1,784,073,600
Dividend Rate 1.88
Dividend Yield 17.6
Earnings Call Timestamp End 1,786,453,200
Earnings Call Timestamp Start 1,786,453,200
Earnings Growth -0.171
Earnings Quarterly Growth -0.158
Earnings Timestamp 1,786,451,400
Earnings Timestamp End 1,793,709,000
Earnings Timestamp Start 1,793,709,000
Ebitda Margins 0.0
Enterprise To Revenue 8.207
Enterprise Value 400,784,704
Eps Forward 1.92
Eps Trailing Twelve Months 1.36
Esg Populated 0
Ex Dividend Date 1,782,777,600
Exchange NGM
Exchange Data Delayed By 0
Exchange Timezone Name America/New_York
Exchange Timezone Short Name EDT
Fifty Day Average 10.5163
Fifty Day Average Change 0.1637001
Fifty Day Average Change Percent 0.015566321
Fifty Two Week Change Percent -24.78873
Fifty Two Week High 14.57
Fifty Two Week High Change -3.8899994
Fifty Two Week High Change Percent -0.26698694
Fifty Two Week Low 9.69
Fifty Two Week Low Change 0.9900007
Fifty Two Week Low Change Percent 0.10216726
Fifty Two Week Range 9.69 - 14.57
Financial Currency USD
First Trade Date Milliseconds 1,638,973,800,000
Float Shares 22,719,295
Forward Eps 1.92
Forward P E 5.5625005
Full Exchange Name NasdaqGM
Fullday Change 0.0100002
Fullday Change Percent 0.0937229
Fullday Price 10.6
Gmt Off Set Milliseconds -14,400,000
Governance Epoch Date 1,785,542,400
Gross Margins 1.0
Gross Profits 48,836,028
Has Pre Post Market Data 1
Held Percent Insiders 0.11326
Held Percent Institutions 0.29209998
Implied Shares Outstanding 25,621,146
Industry REIT - Mortgage
Industry Disp REIT - Mortgage
Industry Key reit-mortgage
Ipo Expected Date 2,021-12-08
Is Earnings Date Estimate 1
Language en-US
Last Dividend Date 1,782,777,600
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 273,633,856
Market State CLOSED
Max Age 86,400
Message Board Id finmb_1680938231
Most Recent Quarter 1,782,777,600
Net Income To Common 29,405,482
Next Fiscal Year End 1,798,675,200
Non Diluted Market Cap 273,633,839
Number Of Analyst Opinions 4
Open 10.71
Operating Cashflow 26,923,272
Operating Margins 0.62665004
Overall Risk 8
Payout Ratio 1.3824
Phone 312 625 9295
Post Market Change -0.07999992
Post Market Change Percent -0.74906296
Post Market Price 10.6
Post Market Time 1,787,959,805
Previous Close 10.67
Price Hint 2
Price To Book 0.75466365
Price To Sales Trailing12 Months 5.6031146
Profit Margins 0.60213
Quick Ratio 26.607
Quote Source Name Nasdaq Real Time Price
Quote Type EQUITY
Recommendation Key buy
Recommendation Mean 2.0
Region US
Regular Market Change 0.0100002
Regular Market Change Percent 0.0937229
Regular Market Day High 10.74
Regular Market Day Low 10.585
Regular Market Day Range 10.585 - 10.74
Regular Market Open 10.71
Regular Market Previous Close 10.67
Regular Market Price 10.68
Regular Market Time 1,787,947,200
Regular Market Volume 129,789
Return On Assets 0.06414
Return On Equity 0.096149996
Revenue Growth -0.075
Revenue Per Share 2.312
Sand P52 Week Change 0.20204377
Sector Real Estate
Sector Disp Real Estate
Sector Key real-estate
Share Holder Rights Risk 9
Shares Outstanding 25,621,146
Shares Percent Shares Out 0.0465
Shares Short 1,191,559
Shares Short Previous Month Date 1,784,073,600
Shares Short Prior Month 1,117,876
Short Name Chicago Atlantic Real Estate Fi
Short Percent Of Float 0.049099997
Short Ratio 7.07
Source Interval 15
State FL
Symbol REFI
Target High Price 20.0
Target Low Price 10.5
Target Mean Price 15.125
Target Median Price 15.0
Total Cash 13,351,699
Total Cash Per Share 0.521
Total Debt 140,502,544
Total Revenue 48,836,028
Tradeable 0
Trailing Annual Dividend Rate 1.88
Trailing Annual Dividend Yield 0.17619494
Trailing Eps 1.36
Trailing P E 7.8529415
Trailing Peg Ratio None
Triggerable 1
Two Hundred Day Average 11.695975
Two Hundred Day Average Change -1.015975
Two Hundred Day Average Change Percent -0.08686535
Type Disp Equity
Volume 129,789
Website https://www.refi.reit
Zip 33,139