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Upturn AI SWOT - About
Chicago Atlantic Real Estate Finance Inc (REFI)
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Upturn Advisory Summary
06/30/2025: REFI (1-star) is currently NOT-A-BUY. Pass it for now.
Upturn Star Rating
Not Recommended Performance
These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.
Number of Analysts
4 Analysts rated it
Limited analyst coverage, niche firm, research info may be scarce.
1 Year Target Price $17.62
1 Year Target Price $17.62
| 2 | Strong Buy |
| 1 | Buy |
| 1 | Hold |
| 0 | Sell |
| 0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit -8.23% | Avg. Invested days 46 | Today’s Advisory PASS |
Upturn Star Rating | Upturn Advisory Performance  2.0 | Stock Returns Performance  1.0 |
| Profits based on simulation | Last Close 06/30/2025 |
Key Highlights
Company Size Small-Cap Stock | Market Capitalization 303.82M USD | Price to earnings Ratio 7.71 | 1Y Target Price 17.62 |
Price to earnings Ratio 7.71 | 1Y Target Price 17.62 | ||
Volume (30-day avg) 4 | Beta 0.32 | 52 Weeks Range 12.35 - 15.26 | Updated Date 06/29/2025 |
52 Weeks Range 12.35 - 15.26 | Updated Date 06/29/2025 | ||
Dividends yield (FY) 12.99% | Basic EPS (TTM) 1.88 |
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 67.54% | Operating Margin (TTM) 71.14% |
Management Effectiveness
Return on Assets (TTM) 9.61% | Return on Equity (TTM) 12.86% |
Valuation
Trailing PE 7.71 | Forward PE 7.86 | Enterprise Value 381094976 | Price to Sales(TTM) 5.35 |
Enterprise Value 381094976 | Price to Sales(TTM) 5.35 | ||
Enterprise Value to Revenue 7.15 | Enterprise Value to EBITDA - | Shares Outstanding 20967500 | Shares Floating 17982949 |
Shares Outstanding 20967500 | Shares Floating 17982949 | ||
Percent Insiders 14.23 | Percent Institutions 34.26 |
Analyst Ratings
Rating 2 | Target Price 17.62 | Buy 1 | Strong Buy 2 |
Buy 1 | Strong Buy 2 | ||
Hold 1 | Sell - | Strong Sell - | |
Strong Sell - |
Upturn AI SWOT
Chicago Atlantic Real Estate Finance Inc
Company Overview
History and Background
Chicago Atlantic Real Estate Finance, Inc. (REFI) was formed in 2021 as a specialty finance company focused on the cannabis industry. It originates, structures, and invests in secured credit offerings to state-licensed cannabis operators. The company aims to provide financing solutions to a sector underserved by traditional financial institutions.
Core Business Areas
- Cannabis Lending: Originates, structures, and invests in senior secured credit offerings for licensed cannabis operators. This involves providing loans for real estate, equipment, and working capital.
Leadership and Structure
The company is led by John Mazarakis (Chairman & CEO) and Andreas Bodmeier (Co-Founder and CIO). The company operates as a real estate investment trust (REIT).
Top Products and Market Share
Key Offerings
- Senior Secured Loans: REFI's primary product is senior secured loans to state-licensed cannabis operators, often secured by real estate or other assets. Market share data specific to REFI within the cannabis lending space is not readily available; however, the cannabis lending market is competitive with many private lenders and other REITs. Competitors include AFC Gamma, Inc. and Innovative Industrial Properties, Inc. Revenue generated from these loans constitutes the vast majority of REFI's revenue.
Market Dynamics
Industry Overview
The cannabis industry is experiencing rapid growth but faces limited access to traditional banking and financing due to federal regulations. This creates opportunities for specialty lenders like REFI.
Positioning
REFI is positioned as a specialized lender focusing on the cannabis industry. Its competitive advantage lies in its expertise in underwriting and structuring loans in a complex regulatory environment. They also offer direct deals with cannabis operators looking for capital, leading to higher interest rates on their debt.
Total Addressable Market (TAM)
The total addressable market for cannabis lending is estimated to be in the billions of dollars, considering the funding needs of cannabis operators across various states. REFI's market share is relatively small but growing as the industry matures.
Upturn SWOT Analysis
Strengths
- Specialized Expertise in Cannabis Lending
- High-Yield Loan Portfolio
- Strong Underwriting Process
- Focus on Senior Secured Debt
Weaknesses
- Concentration Risk in the Cannabis Industry
- Dependence on Regulatory Environment
- Smaller Size Compared to Traditional REITs
- Higher Cost of Capital Compared to Traditional REITs
Opportunities
- Expansion into New Cannabis Markets
- Diversification of Lending Products
- Increased Institutional Investment in Cannabis
- Potential Federal Legalization of Cannabis
Threats
- Regulatory Changes Affecting the Cannabis Industry
- Increased Competition from Other Lenders
- Economic Downturn Impacting Cannabis Operators
- Federal Prohibition of Cannabis
Competitors and Market Share
Key Competitors
- AFC Gamma, Inc. (AFCG)
- Innovative Industrial Properties, Inc. (IIPR)
- NewLake Capital Partners, Inc. (NLCP)
Competitive Landscape
REFI's competitive advantage lies in its specialization and underwriting expertise. However, AFCG and IIPR are larger and have more established reputations.
Growth Trajectory and Initiatives
Historical Growth: REFI has experienced rapid growth since its inception, driven by increasing demand for financing from cannabis operators.
Future Projections: Future growth is expected to continue, contingent on the expansion of the cannabis industry and REFI's ability to deploy capital effectively.
Recent Initiatives: Recent initiatives include expanding its lending portfolio and exploring new financing products.
Summary
Chicago Atlantic Real Estate Finance Inc. operates in a rapidly growing cannabis lending market, but faces unique challenges. The company exhibits rapid growth and strong underwriting capabilities in the space. Regulatory hurdles can still make it a riskier investment, but its high yield lending and dividend make it attractive. They need to watch out for increased competition and changes in regulation.
Peer Comparison
Sources and Disclaimers
Data Sources:
- Company Financial Statements
- Analyst Reports
- Industry Publications
Disclaimers:
The information provided is for informational purposes only and does not constitute investment advice. Market share data are estimates. Financial performance is subject to change.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Chicago Atlantic Real Estate Finance Inc
Exchange NASDAQ | Headquaters Miami Beach, FL, United States | ||
IPO Launch date 2021-12-08 | Co-CEO & Director of Chicago Atlantic REIT Manager, LLC Mr. Anthony Robert Cappell | ||
Sector Real Estate | Industry REIT - Mortgage | Full time employees - | Website https://www.refi.reit |
Full time employees - | Website https://www.refi.reit | ||
Chicago Atlantic Real Estate Finance, Inc. operates as a commercial mortgage real estate investment trust in the United States. The company engages in originating, structuring, and investing in first mortgage loans and alternative structured financings secured by commercial real estate properties. Its portfolio primarily includes first mortgage loans to established multi-state or single-state cannabis operators or property owners. The company 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.
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