Chicago Atlantic Real Estate Finance Inc (REFI)

Chicago Atlantic Real Estate Finance, Inc. is a real estate investment trust focused on commercial mortgage lending in the United States. Through its activities, the company originates, structures, and invests in first mortgage loans and other structured financings backed by commercial real estate. Its loan portfolio is concentrated in senior loans made to state-licensed operators in the cannabis industry. As a REIT, the company has elected a tax structure that generally allows it to avoid federal corporate income tax if it distributes at least 90% of its taxable income to stockholders. Incorporated in 2021, Chicago Atlantic Real Estate Finance is based in Miami Beach, Florida, and its common stock trades on NASDAQ under the symbol REFI.


Jump between the core stock analysis sections, valuation data, fair value models, technical outlook, and FAQ.

Data update note: Fair value and stock analysis metrics are updated after regular market sessions when new data becomes available.
Ticker Fair Value Fair Value Upside/Downside Fair Value Rating Analyst Price Target Analyst Target Upside/Downside Analyst Target Rating Overall Financial Health Upcoming Dividend Ex-Date Dividend Payment Date Upcoming Dividend Dividend Yield Next Earnings Date P/E Ratio Price-to-Book Ratio Price-to-Sales Ratio Market Cap Enterprise Value Total Debt / Total Capital Free Float / Shares Outstanding Altman Z-Score Payout Ratio Free Cash Flow / Net Income
NASDAQ-REFI
$12.66
20.9% Upside
Undervalued
$16.38
56.4% Upside
Bargain
Fair
1.88
18.0%
August 12, 2026
8.6x
0.9x
5.3x
265.9 M
30.5%
87.3%
12.3
130.3%
79.0%
Valuation • Fair Value

Chicago Atlantic Real Estate Finance Inc (NASDAQ-REFI) Fair Value by Valuation Model

Compare the primary fair value estimate for Chicago Atlantic Real Estate Finance Inc (NASDAQ-REFI) with model-based valuation references such as DCF, Ben Graham, DDM, EPV and comparable-company valuation.

Primary Valuation Read

Fair Value

$12.66

Estimated upside of 20.9% versus the current market price.

Fair Value Confidence

Med

Confidence level for the primary fair value estimate.

DCF Fair Value

NM

Discounted cash flow valuation reference.

Ben Graham Formula Value

$13.40

Classic Ben Graham valuation formula reference.

DDM Fair Value

$17.50

Dividend discount model valuation reference.

EPV Fair Value

NM

Earnings power value estimate.

Comps Fair Value

$10.23

Comparable-company valuation reference.

Analyst Price Target

$16.38

Analysts imply upside of 56.4%.

How to read these valuation models

Use this section to compare the primary fair value estimate for Chicago Atlantic Real Estate Finance Inc (NASDAQ-REFI) with several model-based valuation references. Different models can produce different outputs because each method relies on a different set of assumptions, so the primary fair value estimate should be read alongside the model spread rather than in isolation.

Profitability • Growth

Profitability & Growth for Chicago Atlantic Real Estate Finance Inc (NASDAQ-REFI)

A compact read on revenue, forward revenue expectations, EBITDA and operating profitability trends.

Revenue

49.83 M

Current operating scale indicator.

Revenue Forecast

55.357 M

Forward revenue estimate.

EBITDA

0 K

Current operating profitability reference.

EBITDA Forecast

Not available

Data is currently unavailable.

How to read profitability and growth

This section helps investors review Chicago Atlantic Real Estate Finance Inc (NASDAQ-REFI) from an operating perspective by combining current scale, forward revenue expectations and EBITDA-related profitability measures.

Quality • Risk

Quality & Financial Risk for Chicago Atlantic Real Estate Finance Inc (NASDAQ-REFI)

Review financial health, earnings quality and balance-sheet risk through Piotroski, Beneish, Altman and cash conversion metrics.

Financial Health

Fair

Mixed or neutral financial-health read.

Piotroski Score

3

Weak quality score that deserves closer review.

Beneish M-Score

NM

Forensic accounting screen.

Altman Z-Score

12.3

Relatively strong balance-sheet zone.

FCF / Net Income

79.0%

Cash conversion quality indicator.

How to read quality and risk

This section combines quality, balance-sheet and accounting-risk indicators for Chicago Atlantic Real Estate Finance Inc (NASDAQ-REFI). Read the metrics together: no single score is a complete investment conclusion, but the combined view can highlight financial strength, earnings quality and areas that may deserve closer review.

Events • Dividends

Upcoming Events & Dividends for Chicago Atlantic Real Estate Finance Inc (NASDAQ-REFI)

Track the next earnings date, ex-dividend date, dividend payment date, dividend yield and upcoming distribution details where available.

Next Earnings Date

August 12, 2026

Days to Earnings

22

Dividend Payment Date

Not available

Ex-Dividend Date

Not available

Dividend Yield

18.0%

Income yield reference.

Upcoming Dividend

1.88

Upcoming distribution amount.

Payment Type

Not available

Data is currently unavailable.

Dividend Currency

USD

Currency used for the distribution.

Payout Ratio

130.3%

Dividend payout reference.

How to read events and dividends

This section helps investors track time-sensitive items for Chicago Atlantic Real Estate Finance Inc (NASDAQ-REFI), including the next earnings date and dividend-related milestones. These items can matter for short-term volatility, income planning and event-driven positioning.

Stock Forecast • Technical Outlook

Chicago Atlantic Real Estate Finance Inc (NASDAQ-REFI) Stock Forecast & Technical Outlook

Review Chicago Atlantic Real Estate Finance Inc (NASDAQ-REFI) across multiple technical time frames, alongside analyst recommendation data, to form a faster read on market positioning and near-term sentiment.

Technical Signals by Time Frame

Switch between time frames to review the current technical signal for the stock.

Strong Sell Sell Neutral Buy Strong Buy
Time frame: 15-minute • intraday
Buy

The 15-minute technical read for Chicago Atlantic Real Estate Finance Inc (NASDAQ-REFI) is currently Buy. Use it as a timing signal only, and compare it with valuation, fundamentals and upcoming events before drawing a broader view.

Strong Sell Sell Neutral Buy Strong Buy
Time frame: 1-hour • short-term
Strong Sell

The 1-hour technical read for Chicago Atlantic Real Estate Finance Inc (NASDAQ-REFI) is currently Strong Sell. Use it as a timing signal only, and compare it with valuation, fundamentals and upcoming events before drawing a broader view.

Strong Sell Sell Neutral Buy Strong Buy
Time frame: daily • daily
Strong Sell

The daily technical read for Chicago Atlantic Real Estate Finance Inc (NASDAQ-REFI) is currently Strong Sell. Use it as a timing signal only, and compare it with valuation, fundamentals and upcoming events before drawing a broader view.

Strong Sell Sell Neutral Buy Strong Buy
Time frame: weekly • weekly
Strong Sell

The weekly technical read for Chicago Atlantic Real Estate Finance Inc (NASDAQ-REFI) is currently Strong Sell. Use it as a timing signal only, and compare it with valuation, fundamentals and upcoming events before drawing a broader view.

Strong Sell Sell Neutral Buy Strong Buy
Time frame: monthly • monthly
Strong Sell

The monthly technical read for Chicago Atlantic Real Estate Finance Inc (NASDAQ-REFI) is currently Strong Sell. Use it as a timing signal only, and compare it with valuation, fundamentals and upcoming events before drawing a broader view.

Analyst Consensus for Chicago Atlantic Real Estate Finance Inc (NASDAQ-REFI)

A consolidated view of buy, hold and sell recommendations based on the currently available analyst data.

Strong Sell Sell Neutral Buy Strong Buy
Consolidated analyst recommendation mix
Buy

Based on the available recommendation mix, Chicago Atlantic Real Estate Finance Inc (NASDAQ-REFI) has a Buy consensus, with 2 buy, 2 hold and 0 sell recommendations in the current data set.

Buy 2
Hold 2
Sell 0
FAQ Fast Investor Answers

Chicago Atlantic Real Estate Finance Inc (NASDAQ-REFI) Stock FAQ

Quick answers about Chicago Atlantic Real Estate Finance Inc (NASDAQ-REFI) stock, including fair value, valuation rating, analyst price target, dividends, earnings dates, market capitalization, financial health and other key stock analysis metrics.

Fair Value
$12.66
Estimated upside 20.9%
Valuation Rating
Undervalued
Estimated upside of 20.9%
Analyst Target
$16.38
Implied upside 56.4%
Financial Health
Fair
Current financial-health read

The current fair value estimate for Chicago Atlantic Real Estate Finance Inc (NASDAQ-REFI) is $12.66. This implies an estimated upside of 20.9% versus the current market price.

Based on the current fair value estimate, the stock appears undervalued, with estimated upside of 20.9% versus the current market price.

The available analyst price target for Chicago Atlantic Real Estate Finance Inc (NASDAQ-REFI) is $16.38. The analyst target implies estimated upside of 56.4%.

The current financial health read for Chicago Atlantic Real Estate Finance Inc (NASDAQ-REFI) is Fair. This should be reviewed alongside valuation, profitability, debt and cash-flow quality metrics.

The next earnings date currently listed for Chicago Atlantic Real Estate Finance Inc (NASDAQ-REFI) is August 12, 2026.

Based on the current data, dividend yield is 18.0%, upcoming dividend amount is 1.88.

The current P/E ratio listed for Chicago Atlantic Real Estate Finance Inc (NASDAQ-REFI) is 8.6x. Use it together with growth, margins and sector comparisons rather than as a standalone valuation signal.

The current market capitalization listed for Chicago Atlantic Real Estate Finance Inc is 265.9 M.

The ticker symbol for Chicago Atlantic Real Estate Finance Inc is NASDAQ-REFI, and the stock is listed on NASDAQ.

Chicago Atlantic Real Estate Finance Inc (NASDAQ-REFI) is listed on NASDAQ.

The current debt-to-total-capital ratio listed for Chicago Atlantic Real Estate Finance Inc is 30.5%, which helps investors evaluate the company’s financing structure and leverage profile.

The free float listed for Chicago Atlantic Real Estate Finance Inc is 87.3%. Free float helps investors understand how much of the share base is available for public trading.