REFI — Chicago Atlantic Real Estate Finance, Inc.

Nasdaq · Real Estate · Equity Real Estate Investment Trusts (REITs) · CIK 1867949 ·
Last close
$10.79
Market Cap
$276.45M
52W High
$11.06
52W Low
$9.69
ADV30
173,477
Next earnings
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.

Quarterly Fundamentals

Revenues vs Net Income (last 4 Q)

Assets vs Liabilities (last 4 Q)

PeriodRevenuesGrossProfit OpIncomeNetIncomeAssets CashLiabilities
Mar 2026 12,918,086 4,840,364 435,948,612 27,855,945 132,525,954
Dec 2025 14,238,204 8,157,250 424,915,648 14,948,884 117,101,172
Sep 2025 13,685,274 8,934,539 427,077,164 28,920,537 117,162,485
Jun 2025 14,589,987 8,877,375 455,214,325 35,562,084 145,185,935

Cashflow TTM (yfinance, fills SEC gap)

Operating CF
$24,331,247
Investing CF
$4,960,073
Financing CF
$-11,314,552
CapEx
Dividends Paid
$-40,146,203
Buybacks
EPS Diluted TTM
$1.44
As of
2026-08-16

Balance + Analyst (yfinance extras)

Retained Earnings
$-20,779,353
Inventory
Receivables
$4,973,064
ST Investments
EBIT TTM
Pretax Income TTM
$30,809,528
Interest Exp TTM
$7,520,861
Analysts
4

Yahoo Snapshot (yfinance, live)

Total Revenue
$48,836,028
EBITDA
Free Cash Flow
Enterprise Value
$403,346,816
Total Cash
$13,351,699
Total Debt
$140,502,544
Shares Out
25,621,146
Trailing EPS
$1.36
Book Value
$14.15
ROE
9.6%
ROA
6.4%
Div Yield
17.47%

Annual Trend (SEC EDGAR, last 4y)

Revenues vs Net Income (last 4y)

FY endRevenuesOpIncome NetIncomeAssetsLiabilities EquityOCF
Dec 2025 55,555,399 36,010,478 424,915,648 117,101,172 28,792,608
Dec 2024 54,782,709 37,045,403 435,148,974 126,190,877 23,159,376
Dec 2023 57,327,489 38,710,248 359,225,597 87,372,206 28,416,459
Dec 2022 48,857,628 32,292,477 343,271,050 79,238,027 17,005,155

TTM Snapshot

Revenues TTM
NetIncome TTM
OpCashFlow TTM
Assets (Latest)
Forward EPS
$1.92

Max Pain — expiry 2026-10-16 (volume-derived — Yahoo OI feed degraded)

max pain strike: $10.00 · spot: $10.79 · call volume: 27 · put volume: 108
Expected Move to 2026-10-16: ±$0.61 (5.65%) — implied range $10.18$11.40 · ATM straddle on $10.00 strike

Peers — same industry

TickerNameMarket CapLastDaily %
NTPIF NAM TAI PROPERTY INC. $274.53M $4.50
BRT BRT Apartments Corp. $279.08M $14.85
NXDT NEXPOINT DIVERSIFIED REAL ESTATE TRUST $286.77M $5.40
RMAX RE/MAX Holdings, Inc. $263.49M $12.36
ACRE Ares Commercial Real Estate Corp $262.43M $4.73

News headlines (Yahoo Finance, 1h cache)

Chicago Atlantic (REFI) Q2 2026 Earnings Call Transcript
2026-08-18 15:30 · Yahoo
Chicago Atlantic Real Estate Finance Inc (REFI) (Q2 2026) Earnings Call Highlights: Strategic ...
2026-08-11 21:00 · Yahoo
Chicago Atlantic Real Estate Finance Q2 Earnings Call Highlights
2026-08-11 15:05 · Yahoo
Chicago Atlantic Real Estate Finance, Inc. (REFI) Lags Q2 Earnings and Revenue Estimates
2026-08-11 12:20 · Yahoo
Chicago Atlantic Real Estate Finance Announces Second Quarter 2026 Financial Results
2026-08-11 11:00 · Yahoo
Chicago Atlantic Real Estate Finance, Inc. Announces Second-Lien Financing of Thirty-Two Cannabis Retail Properties
2026-07-13 20:05 · Yahoo
Chicago Atlantic Real Estate Finance, Inc. and Chicago Atlantic BDC, Inc. Announce Definitive Merger Agreement
2026-06-18 11:00 · Yahoo
Chicago Atlantic Real Estate Finance Declares Common Stock Dividend of $0.47 for the Second Quarter of 2026
2026-06-17 11:00 · Yahoo
Chicago Atlantic Real Estate Finance Q1 Earnings Call Highlights
2026-05-08 23:05 · Yahoo
Chicago Atlantic Real Estate Finance, Inc. (REFI) Misses Q1 Earnings and Revenue Estimates
2026-05-07 12:50 · Yahoo

Recent Insider Activity

FiledTradeInsiderTitleType PriceQtyValue
2026-08-21 13:49:34 2026-08-18 Sack Peter Co-CEO P - Purchase 10.44 5000 52220