Chicago Atlantic Real Estate FinanceNASDAQ: REFI

CHICAGO, June 14, 2024 (GLOBE NEWSWIRE) -- Chicago Atlantic Real Estate Finance, Inc. (NASDAQ: REFI), a commercial mortgage real estate investment trust, announced that its board of directors has declared a regular quarterly cash dividend of $0.47 per share for the second quarter of 2024. The regular quarterly dividend, which equates to an annualized rate of $1.88 per common share, is payable on July 15, 2024, to shareholders of record as of the close of business on June 28, 2024.

CHICAGO--(BUSINESS WIRE)--Chicago Atlantic announces debt financing provided to GF Sports & Entertainment, which owns the Dallas Open, an ATP 500 tennis tournament.

CHICAGO--(BUSINESS WIRE)--Tim Anderson, known institutional capital raiser, has joined Chicago Atlantic to lead the firm's institutional fundraising efforts.

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ: REFI) ("Chicago Atlantic" or the “Company”), a commercial mortgage REIT, disclosed plans to unveil its first quarter financial results for the period ending March 31, 2024.

Chicago Atlantic Real Estate Finance, Inc. specializes in originating and investing in senior secured loans to state-licensed cannabis operators. The company reported solid financial performance in 2023Q3. It also has low leverage, strong liquidity, and an attractive loan portfolio.

Chicago Atlantic Real Estate Finance has kept its dividend stable and currently pays out $0.47 per share for a 12.4% dividend yield. This was 115% covered by fiscal 2023 third-quarter diluted EPS of $0.54 per share. The mREIT has an extremely low debt-to-equity ratio but faces top 5 concentration risk.

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI ) Q3 2023 Earnings Conference Call November 8, 2023 9:00 AM ET Company Participants Tripp Sullivan - Investor Relations John Mazarakis - Executive Chairman Anthony Cappell - Chief Executive Officer Andreas Bodmeier - Co-President and Chief Investment Officer Peter Sack - Co-President Phil Silverman - Interim Chief Financial Officer Conference Call Participants Crispin Love - Piper Sandler & Co. Mark Smith - Lake Street Capital Markets Harry Sullivan - SCR Partners Operator Good day, and thank you for standing by. Welcome to the Chicago Atlantic Real Estate Finance, Inc. Third Quarter 2023 Earnings Call.

Chicago Atlantic Real Estate Finance, Inc. is a REIT offering credit to licensed operators in the cannabis industry and has seen significant growth in its loan portfolio. The lack of federal legalization of cannabis sales in the U.S. limits liquidity for the industry, but the market is still expected to grow steadily. There are risks associated with mortgage REITs that finance cannabis operators, including regulatory challenges and potential competition from traditional lenders in the future.

Chicago Atlantic Real Estate Finance Inc. REFI, -0.13% said Friday it would provide up to $150 million in capital for the New York State Cannabis Social Equity Investment Fund. The money will be combined with $50 million from state cannabis tax revenue to secure, lease, design and construct cannabis dispensaries that have been licensed under the state's conditional adult-use cannabis dispensary or CAURD program.