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Chicago Atlantic Real Estate Finance(NASDAQ) REFI

Market Cap$273.63MMarket cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.
Since IPO (2021)+23%
5 YearN/A
1 Year-11%
1 Month+8%
Premium Feature
Moneyball Superscore
54/100
$10.82
+1.31%
+0.14Today
Chicago Atlantic Real Estate Finance last closing stock price
MetricPriceDate
Last closeUSD 10.682026-08-28
Chicago Atlantic Real Estate Finance stock price return by period
PeriodPrice returnPrice at period startPeriod start date
1 week-0.93%USD 10.782026-08-21
1 month+8.21%USD 9.872026-07-29
3 month-1.9%USD 10.892026-05-29
Year to date-5.2%USD 11.272025-12-31
1 year-11.42%USD 12.062025-08-28
3 year+10.84%USD 9.642023-08-29
Since inception+23.44%USD 8.652021-12-08

Chicago Atlantic Real Estate Finance Financials at a Glance

Market Cap

$273.63MMarket cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.

Revenue (TTM)

$60.14M

Net Income (TTM)

$29.41M

EPS (TTM)

$1.37

P/E Ratio

7.82

Dividend

$1.88

Beta (Volatility)

0.00 (Low)

Price

$10.82

Volume

19,161.511

Open

$10.69

Previous Close

$10.68

Daily Range

$10.67 - $10.78

52-Week Range

$9.69 - $14.57

Estimated Earnings Date

Nov 3, 2026

REFI News

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Chicago Atlantic (REFI) Q2 EPS Beats 9%

Motley Fool Markets TeamAug 7, 2025

REFI: Motley Fool Moneyball Superscore

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About Chicago Atlantic Real Estate Finance

Chicago Atlantic Real Estate Finance, Inc. lends money to cannabis companies. It helps business owners buy property and equipment for their operations. This financing serves licensed growers, processors, and retail shops.

Where the Money Flows

  • Senior Mortgage Loans: Debt financing for commercial buildings used by cannabis growers and retail shops; these form the core of the portfolio.
  • Floating-Rate Loans: Debt with interest rates that adjust based on market benchmarks like the Secured Overnight Financing Rate (SOFR); 58.8% of investments.
  • Fixed-Rate Loans: Loans with interest rates that do not change over the life of the agreement; 41.2% of the investment portfolio.
  • Asset-Backed Credit: Financing secured by real estate, equipment, and state licenses to protect the company if a borrower defaults.

Recent Strategic Actions

  • Agreed to a merger in June 2026 with Chicago Atlantic BDC to transition into a business development company structure.
  • Purchased a $41.0 million second-lien mortgage loan in June 2026 for a subsidiary of Vireo Growth.
  • Traded one loan for five new loans of equal value in June 2026 through a non-cash exchange with an affiliate.
  • Sold 4.3 million common shares in July 2026 to acquire $62.5 million in notes secured by 32 retail properties.

Why Risk Monitoring Matters

Chicago Atlantic uses a five-point risk rating system to monitor portfolio performance and collateral coverage quarterly. It targets cannabis operators with positive earnings and low debt levels to reduce potential losses.

Just the Financial Facts

  • Interest income was $15.2 million for the three months ended June 30, 2026, compared to $16.5 million in 2025.
  • Net income was $7.5 million for the three months ended June 30, 2026, down from $8.9 million in 2025.
  • The investment portfolio included 29 loans with a weighted average remaining life of 2.2 years on June 30, 2026.
  • Book value per share was $14.15 on June 30, 2026, compared to $14.60 at the end of 2025.

Bottom Line

Chicago Atlantic serves the cannabis industry by providing specialized real estate loans that traditional banks often avoid. The company is currently merging with Chicago Atlantic BDC to gain more flexibility for its future investments.

AI Generated • Aug 11, 2026

Industry

Mortgage Real Estate Investment Trusts (REITs)

Sector

Financials

Employees

0

CEO

Anthony Cappell, MBA; Peter Sack, MBA

Website

www.refi.reit

Headquarters

Miami Beach, FL 33139, US

REFI Financials

Key Financial Metrics (TTM)

Gross Margin

91.25%

Operating Margin

41.39%

Net Income Margin

48.89%

Return on Equity

9.62%

Return on Capital

8.86%

Return on Assets

6.37%

Earnings Yield

12.79%

Dividend Yield

17.60%

Payout Ratio

1.38%

Stock Overview

Market Cap

$273.63MMarket cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.

Shares Outstanding

25.62M

Volume

19.16K

Avg. Volume

169.11K

Financials (TTM)

Gross Profit

$54.88M

Operating Income

$24.90M

EBITDA

$24.90M

Operating Cash Flow

$26.92M

Capital Expenditure

-$3.00

Free Cash Flow

$26.92M

Cash & ST Invst.

$13.35M

Total Debt

$49.45M

Chicago Atlantic Real Estate Finance Performance Analysis

Chicago Atlantic Real Estate Finance annual revenue and year-over-year revenue growth by fiscal year
Fiscal yearPeriod endRevenueYoY growth
20222022-12-31USD 51,471,766364.8%
20232023-12-31USD 63,004,79322.4%
20242024-12-31USD 62,176,520-1.3%
20252025-12-31USD 62,936,0401.2%
Chicago Atlantic Real Estate Finance sequential (quarter-over-quarter) revenue growth by fiscal quarter
Fiscal quarterPeriod endQoQ growth
Q32025-09-30-6.2%
Q42025-12-3117.5%
Q12026-03-31-5.7%
Q22026-06-300.4%
Chicago Atlantic Real Estate Finance annual diluted earnings per share and year-over-year EPS growth by fiscal year
Fiscal yearPeriod endDiluted EPSYoY growth
20222022-12-31USD 1.82234.4%
20232023-12-31USD 2.1116.0%
20242024-12-31USD 1.88-11.0%
20252025-12-31USD 1.68-10.6%
Chicago Atlantic Real Estate Finance sequential (quarter-over-quarter) diluted earnings per share growth by fiscal quarter
Fiscal quarterPeriod endQoQ growth
Q32025-09-302.4%
Q42025-12-31-9.5%
Q12026-03-31-39.5%
Q22026-06-3047.8%

Revenue Growth Rate

Annual and quarterly growth comparison

Earnings Per Share Growth Rate

Annual and quarterly EPS growth comparison

Quarterly Performance

Name
Q2 2026YOY CHG

Revenue

$15.22M

+4.3%

Gross Profit

$13.61M

-6.7%

Gross Margin

89.46%

N/A

Market Cap

$273.63MMarket cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.

N/A

Market Cap/Employee

N/A

N/A

Employees

0

N/A

Net Income

$7.47M

-15.8%

EBITDA

$9.86M

N/A

Quarterly Fundamentals

Name
Q2 2026YOY CHG

Total Cash

$13.35M

-62.5%

Total Debt

$49.45M

-58.9%

Accounts Receivable

$6.26M

-98.5%

Inventory

$0.00

N/A

Long Term Debt

$140.50M

+16.7%

Short Term Debt

$49.45M

N/A

Return on Assets

6.37%

N/A

Return on Invested Capital

6.04%

N/A

Free Cash Flow

$9.06M

+40.1%

Operating Cash Flow

$9.06M

+40.1%

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Questions About REFI

What is the current price of Chicago Atlantic Real Estate Finance?

Chicago Atlantic Real Estate Finance is trading at $10.78 per share.

What is the 52-week range for Chicago Atlantic Real Estate Finance?

Over the past 52 weeks, Chicago Atlantic Real Estate Finance has traded between $9.69 and $14.57.

How much debt does Chicago Atlantic Real Estate Finance have?

As of the most recent reporting period, Chicago Atlantic Real Estate Finance reported total debt of $140.50M.

How much cash does Chicago Atlantic Real Estate Finance have on hand?

Chicago Atlantic Real Estate Finance reported $13.35M in cash and cash equivalents in its most recent financial results.

What is Chicago Atlantic Real Estate Finance’s dividend yield?

Chicago Atlantic Real Estate Finance currently has a dividend yield of 17.60%.

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