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Chicago Atlantic Real Estate Finance, Inc. (REFI)

Real Estate | REIT - Mortgage | Miami Beach, United States | NasdaqGM
10.75 USD +0.02 (0.186%) ⇧ (July 14, 2026, 4 p.m. EDT)
Short-term:★★☆☆☆Long-term:★⯪☆☆☆Dividends:★⯪☆☆☆
Hot Take ↕ | July 11, 2026, 5:59 a.m. EDT

The investment case here is fundamentally broken by deteriorating earnings and a shrinking business. Revenue has contracted by nearly 35%, and earnings have plummeted by over 50% year-over-year, driven by higher credit loss reserves. While the stock trades at a low multiple relative to book value, this is a classic value trap where the market has correctly priced in the operational decline. The massive dividend yield of 17.6% is a red flag; the payout ratio exceeds 130%, meaning the company is distributing more cash than it earns, likely burning through capital reserves to maintain the payout. This is unsustainable and poses a severe risk of dividend cuts. On the short end, the stock is technically weak, trading well below its moving averages, though the low beta offers some cushion against broader market swings. Options data confirms the pessimism, with traders buying protection at deep discounts rather than betting on a quick recovery. Avoid this security until the core business shows signs of stabilization and the payout becomes sustainable.
Model Selection — Backtest MAE (log-scale, lower is better)
ModelMAE
AutoTheta ✓0.035141
AutoARIMA0.046178
AutoETS0.046196
MSTL0.051499

Forecast horizon: 45 days | Selected: AutoTheta

Forecast Reliability
Score 52%
H-stat 6.74
Ljung-Box p 0.000
Jarque-Bera p 0.932
Excess Kurtosis -0.22
Attribute Value
Sector Real Estate
Ex Dividend Date 2026-06-29
Last Dividend Date 2026-06-29
Debt to Equity Ratio 38.377
Revenue per Share 2.366
Market Cap 229,129,712
Trailing P/E 7.47
Forward P/E 5.60
Beta 0.31
Profit Margins 61.83%
Website https://www.refi.reit

As of July 11, 2026, 5:59 a.m. EDT: Speculators are positioning defensively with heavy put volume at deep strikes ($5.00) and significant open interest at out-of-the-money strikes ($12.50, $15.00), suggesting a fear of further downside or a belief the stock is significantly undervalued. Call activity is sparse and concentrated at distant strikes, indicating a lack of immediate bullish conviction despite the low implied volatility.

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 17.51
exDividendDate 2026-06-30
trailingAnnualDividendRate 1.88
trailingAnnualDividendYield 0.1752097
lastDividendValue 0.47
lastDividendDate 2026-06-30
dividendDate 2026-07-15

Info Dump

Attribute Value
52 Week Change -0.21678829
Address1 1,680 Michigan Avenue
Address2 Suite 700
All Time High 20.29
All Time Low 10.56
Ask 13.92
Ask Size 2
Audit Risk 4
Average Daily Volume10 Day 166,820
Average Daily Volume3 Month 160,691
Average Volume 160,691
Average Volume10Days 166,820
Beta 0.311
Bid 7.82
Bid Size 2
Board Risk 9
Book Value 14.394
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 10.75
Current Ratio 30.368
Custom Price Alert Confidence HIGH
Date Short Interest 1,782,777,600
Day High 10.9399
Day Low 10.75
Debt To Equity 38.377
Display Name Chicago Atlantic Real Estate Finance
Dividend Date 1,784,073,600
Dividend Rate 1.88
Dividend Yield 17.51
Earnings Call Timestamp End 1,778,158,800
Earnings Call Timestamp Start 1,778,158,800
Earnings Growth -0.511
Earnings Quarterly Growth -0.518
Earnings Timestamp 1,778,157,000
Earnings Timestamp End 1,786,019,400
Earnings Timestamp Start 1,786,019,400
Ebitda Margins 0.0
Enterprise To Revenue 6.353
Enterprise Value 316,564,992
Eps Forward 1.92
Eps Trailing Twelve Months 1.44
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 11.27
Fifty Day Average Change -0.52000046
Fifty Day Average Change Percent -0.046140235
Fifty Two Week Change Percent -21.67883
Fifty Two Week High 14.57
Fifty Two Week High Change -3.8199997
Fifty Two Week High Change Percent -0.26218256
Fifty Two Week Low 10.56
Fifty Two Week Low Change 0.18999958
Fifty Two Week Low Change Percent 0.017992383
Fifty Two Week Range 10.56 - 14.57
Financial Currency USD
First Trade Date Milliseconds 1,638,973,800,000
Float Shares 17,969,521
Forward Eps 1.92
Forward P E 5.5989585
Full Exchange Name NasdaqGM
Gmt Off Set Milliseconds -14,400,000
Governance Epoch Date 1,782,864,000
Gross Margins 1.0
Gross Profits 49,830,376
Has Pre Post Market Data 1
Held Percent Insiders 0.13261
Held Percent Institutions 0.32411
Implied Shares Outstanding 21,314,392
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 229,129,712
Market State PRE
Max Age 86,400
Message Board Id finmb_1680938231
Most Recent Quarter 1,774,915,200
Net Income To Common 30,809,530
Next Fiscal Year End 1,798,675,200
Non Diluted Market Cap 228,703,426
Number Of Analyst Opinions 4
Open 10.78
Operating Cashflow 24,331,248
Operating Margins 0.54342
Overall Risk 8
Payout Ratio 1.3055999
Phone 312 625 9295
Previous Close 10.73
Price Hint 2
Price To Book 0.746839
Price To Sales Trailing12 Months 4.5981936
Profit Margins 0.61829
Quick Ratio 30.368
Quote Source Name Nasdaq Real Time Price
Quote Type EQUITY
Recommendation Key none
Region US
Regular Market Change 0.020000458
Regular Market Change Percent 0.18639757
Regular Market Day High 10.9399
Regular Market Day Low 10.75
Regular Market Day Range 10.75 - 10.9399
Regular Market Open 10.78
Regular Market Previous Close 10.73
Regular Market Price 10.75
Regular Market Time 1,784,059,200
Regular Market Volume 147,398
Return On Assets 0.07244
Return On Equity 0.10032
Revenue Growth -0.342
Revenue Per Share 2.366
Sand P52 Week Change 0.20365608
Sector Real Estate
Sector Disp Real Estate
Sector Key real-estate
Share Holder Rights Risk 9
Shares Outstanding 21,314,392
Shares Percent Shares Out 0.0585
Shares Short 1,246,032
Shares Short Previous Month Date 1,780,012,800
Shares Short Prior Month 1,021,752
Short Name Chicago Atlantic Real Estate Fi
Short Percent Of Float 0.0625
Short Ratio 6.84
Source Interval 15
State FL
Symbol REFI
Target High Price 20.0
Target Low Price 13.5
Target Mean Price 16.375
Target Median Price 16.0
Total Cash 27,855,944
Total Cash Per Share 1.314
Total Debt 116,443,248
Total Revenue 49,830,376
Tradeable 0
Trailing Annual Dividend Rate 1.88
Trailing Annual Dividend Yield 0.1752097
Trailing Eps 1.44
Trailing P E 7.4652777
Trailing Peg Ratio None
Triggerable 1
Two Hundred Day Average 12.1227
Two Hundred Day Average Change -1.3726997
Two Hundred Day Average Change Percent -0.113233835
Type Disp Equity
Volume 147,398
Website https://www.refi.reit
Zip 33,139