Chicago Atlantic Real Estate Finance, Inc. declared a quarterly dividend of $0.47 and a special dividend of $0.18 per share.
Quiver AI Summary
Chicago Atlantic Real Estate Finance, Inc. has announced a regular quarterly cash dividend of $0.47 per common share for Q4 2024, amounting to an annualized rate of $1.88 per share, which will be paid on January 13, 2025, to shareholders of record by December 31, 2024. Additionally, the board declared a special cash dividend of $0.18 per share, which is necessary for the company to comply with U.S. federal income tax regulations for REITs. This special dividend is also payable on January 13, 2025, to the same group of shareholders. Chicago Atlantic is a commercial mortgage REIT focused on providing secured loans to state-licensed cannabis operators in the U.S. and has a notable presence with over $2.3 billion in credit facilities closed since its inception.
Potential Positives
- The declaration of a regular quarterly cash dividend of $0.47 per common share reflects the company's commitment to returning value to its shareholders.
- The special cash dividend of $0.18 per common share demonstrates the company's proactive approach to complying with U.S. federal income tax rules for REITs, ensuring its operational integrity.
- With an annualized dividend rate of $1.88 per common share, the company signals financial stability and strength in its performance.
- The announcement highlights Chicago Atlantic Real Estate Finance's position as a market leader in the commercial mortgage REIT sector, particularly in the cannabis industry.
Potential Negatives
- The declaration of a special cash dividend to comply with U.S. federal income tax rules for REITs may indicate financial strain or the need for liquidity, raising concerns about the company's financial health.
- Issuing a special dividend could be interpreted as a necessity rather than a choice, potentially signaling that the company's performance is not meeting expectations.
- The reliance on the cannabis sector, which may face regulatory and market uncertainties, could pose significant risks for the company's stability and future growth.
FAQ
What is the quarterly dividend declared by Chicago Atlantic REFI for Q4 2024?
Chicago Atlantic REFI has declared a quarterly cash dividend of $0.47 per common share for the fourth quarter of 2024.
When will the dividends be paid to shareholders?
The dividends are payable on January 13, 2025, to shareholders of record as of December 31, 2024.
What is the amount of the special dividend declared by Chicago Atlantic REFI?
The special cash dividend declared is $0.18 per common share to ensure compliance with U.S. federal income tax rules for REITs.
How does the special dividend affect company compliance?
The special dividend is necessary for the company to remain in compliance with U.S. federal income tax regulations for REITs.
What services does Chicago Atlantic Real Estate Finance, Inc. provide?
Chicago Atlantic REFI specializes in originating senior secured loans primarily to state-licensed cannabis operators in limited-license states.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$REFI Insider Trading Activity
$REFI insiders have traded $REFI stock on the open market 2 times in the past 6 months. Of those trades, 1 have been purchases and 1 have been sales.
Here’s a breakdown of recent trading of $REFI stock by insiders over the last 6 months:
- JOHN MAZARAKIS (Executive COB) has traded it 2 times. They made 1 purchase, buying 2,779 shares and 1 sale, selling 2,779 shares.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$REFI Hedge Fund Activity
We have seen 56 institutional investors add shares of $REFI stock to their portfolio, and 39 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- CORIENT PRIVATE WEALTH LLC added 287,166 shares (+inf%) to their portfolio in Q3 2024
- HUDSON BAY CAPITAL MANAGEMENT LP removed 124,523 shares (-100.0%) from their portfolio in Q2 2024
- TIDAL INVESTMENTS LLC added 85,481 shares (+21.4%) to their portfolio in Q3 2024
- TWO SIGMA ADVISERS, LP added 74,500 shares (+65.4%) to their portfolio in Q3 2024
- FIELDER CAPITAL GROUP LLC added 72,004 shares (+13.1%) to their portfolio in Q3 2024
- HIGHTOWER ADVISORS, LLC removed 67,142 shares (-46.8%) from their portfolio in Q3 2024
- RENAISSANCE TECHNOLOGIES LLC added 61,706 shares (+170.0%) to their portfolio in Q3 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
CHICAGO, Dec. 20, 2024 (GLOBE NEWSWIRE) -- Chicago Atlantic Real Estate Finance, Inc. (NASDAQ: REFI), a commercial mortgage real estate investment trust (“REIT”), announced that its board of directors has declared a regular quarterly cash dividend of $0.47 per common share for the fourth quarter of 2024. The regular quarterly dividend, which equates to an annualized rate of $1.88 per common share, is payable on January 13, 2025, to shareholders of record as of the close of business on December 31, 2024.
The board of directors also declared a special cash dividend of $0.18 per common share. The special dividend is required for the Company to remain in compliance with U.S. federal income tax rules for REITs. The amount of the special dividend has been calculated based on estimated performance for the year ending December 31, 2024. The special dividend is payable on January 13, 2025, to shareholders of record as of the close of business on December 31, 2024.
About Chicago Atlantic Real Estate Finance, Inc.
Chicago Atlantic Real Estate Finance, Inc.
(NASDAQ: REFI) is a market-leading commercial mortgage REIT utilizing significant real estate, credit and cannabis expertise to originate senior secured loans primarily to state-licensed cannabis operators in limited-license states in the United States. REFI is part of the Chicago Atlantic platform which has offices in Chicago, Miami, New York, and London and has closed over $2.3 billion in credit facilities since inception.
Contact:
Tripp Sullivan
SCR Partners
IR@REFI.reit
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