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Upturn AI Summary - About
Chicago Atlantic Real Estate Finance Inc(REFI)
Advisory History & Simulated Performance *
*as per simulation (see disclosures)- ALL
- 1Y
- 1M
- 1W
- BUY Advisory
- SELL Advisory (Profit)
- SELL Advisory (Loss)
- Profit
- Loss
- PASS (Skip)
Stock price based on last close Advisory Performance History (Simulated)
Upturn Advisory & Investor View for REFI
09/25/2026: REFI (1-star) has a low Upturn Star Rating. Not recommended to BUY.
Chicago Atlantic Real Estate Finance Inc is a mortgage REIT that specializes in providing senior secured loans to the cannabis industry. Its primary strength lies in its deep industry-specific expertise and the ability to capture high yields from operators lacking traditional banking access. The company's main investment story is centered on the ongoing growth of legal cannabis markets and the potential for consistent income generation through its lending model. However, investors face significant risks, including industry-specific regulatory uncertainty, sector concentration, and potential credit losses. This stock is best suited for income-seeking investors who are comfortable with the inherent risks and volatility of the specialized cannabis sector.
How to Read the Upturn Advisory
The Upturn Star Rating and the current BUY, SELL, or PASS advisory are generated by Upturn’s AI advisory engine based on proprietary signal analysis, price behavior, advisory history, and historical signal performance.
Company fundamentals, valuation, risks, and news provide supporting context about the business.
Investor Fit
| Investor style | Fit | Why |
|---|---|---|
| Growth investor | Mixed fit | Growth is limited by the maturity of the cannabis industry and regulatory constraints on expansion. |
| Momentum investor | Weak fit | The stock often experiences low liquidity and moves based on specific sector headlines rather than sustained momentum. |
| Value investor | Mixed fit | The stock may appear undervalued on a dividend basis, but the underlying business complexity poses valuation risks. |
| Dividend investor | Strong fit | The company is designed to pay out the majority of earnings as dividends, which is the primary draw for this investor style. |
| Low-risk investor | Weak fit | Exposure to the cannabis industry and the nature of high-yield debt create a risk profile unsuitable for low-risk investors. |
Risk Profile
| Risk factor | Level | Why it matters |
|---|---|---|
| Price volatility | High | The stock is susceptible to sudden changes in investor sentiment regarding the cannabis industry. |
| Valuation risk | Medium | Valuation is sensitive to interest rate environments and credit loss expectations. |
| Competition risk (Cannabis Lending) | Medium / high | New entrants to the niche lending market could compress interest spreads. |
| Business quality | Medium | The business relies heavily on the success of specific state-level operators. |
| Dividend income | Medium | Dividend sustainability depends entirely on the interest income generated by the loan portfolio. |
| Execution risk | Medium | Success relies on the manager's ability to accurately underwrite loans in a sector with limited financial transparency. |
Price Behavior
Downtrend
The stock has experienced a sustained decline in price over recent periods.
Smooth
The stock has moved along a generally orderly path with only modest fluctuations.
Analysis of Past Performance
Type Stock | Historic Profit -24.47% | Avg. Invested days 33 | Today’s Advisory Consider higher Upturn Star rating |
Upturn Advisory Rating  | Upturn Advisory Performance  2.0 | Stock Returns Performance  1.0 |
| Profits based on simulation | Last Close 09/25/2026 |
Upturn Scorecard
Upturn Star Rating 
Company Fundamentals
Financial Health Rating
Growth Momentum Score
Ownership
Top 5 Institutional Investors
Unit Economics (Per $1K Revenue)
Economic Dimensions
Quantitative Style Profile
Style Classification
Quality Focused
Key Highlights
Company Size Small-Cap Stock | Market Capitalization 272.87M USD | Price to earnings Ratio 7.83 | 1Y Target Price 15.12 |
Price to earnings Ratio 7.83 | 1Y Target Price 15.12 | ||
Volume (30-day avg) 207.6K shares | Beta 0.34 | 52 Weeks Range 9.69 - 11.94 | Updated Date 09/26/2026 |
52 Weeks Range 9.69 - 11.94 | Updated Date 09/26/2026 | ||
Dividends yield (FY) 17.72% | Basic EPS (TTM) 1.36 |
How Company Makes Money
| Business area | What it includes | Retail investor read |
|---|---|---|
| Interest Income | Interest generated from senior secured loans to cannabis operators. | The company earns money primarily by acting as a bank for cannabis companies that cannot get loans elsewhere. |
| Fee Income | Origination fees and other related loan servicing fees. | Small additional income is earned for setting up and managing the loan agreements. |
Valuation
Trailing PE 7.83 | Forward PE 5.43 | Enterprise Value 400.02M | Price to Sales(TTM) 5.59 |
Enterprise Value 400.02M | Price to Sales(TTM) 5.59 | ||
Enterprise Value to Revenue 7.75 | Enterprise Value to EBITDA - | Shares Outstanding 25.62M | Shares Floating 22.67M |
Shares Outstanding 25.62M | Shares Floating 22.67M | ||
Percent Insiders 11.51 | Percent Institutions 29.6 |
Upturn AI Summary
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.
Financial Metrics
🧭 Investment Snapshot
Total Revenue (Scale)
Total money earned from selling products or services before any costs. It is needed to understand the scale of the business and its ability to generate income.
Net Income (Profit)
Final profit after all expenses, interest, and taxes are deducted. It is needed to determine the overall profitability available to shareholders.
Free Cash Flow (Cash Strength)
Cash remaining after operating activities and capital expenditures, showing cash available for growth. It is needed to evaluate the company’s ability to invest, pay dividends, or reduce debt.
📈 Growth & Strength
Operating Income (Core Profit)
Profit from core operations after deducting all operating expenses. It is needed to measure how efficiently the company runs its primary business activities.
EBITDA (Cash Earnings)
Earnings before interest, taxes, depreciation, and amortization, indicating operating cash potential. It is needed to compare operating performance across companies without accounting or financing differences.
Gross Profit (Unit Profitability)
Revenue minus cost of revenue, showing profit after direct production costs. It is needed to evaluate core business profitability before overhead expenses.
🛡️ Financial Safety
Cash (Liquidity Buffer)
Total cash and cash equivalents on hand. It is needed to evaluate immediate liquidity and financial flexibility.
Total Debt (Leverage Risk)
Total debt including both short-term and long-term components. It is needed to assess the company’s leverage and financial risk.
Net Working Capital (Short-Term Health)
Current assets minus current liabilities, indicating short-term liquidity strength. It is needed to assess whether the company can meet its short-term obligations.
🧱 Balance Sheet Strength
Stockholder Equity (Net Worth)
Total equity value held by shareholders. It is needed to understand the net worth of the company from the owners’ perspective.
Total Assets (Asset Base)
The full value of everything the company owns, including cash, inventory, equipment, and investments. It is needed to understand the resource base used to generate revenue.
Income Before Tax (Pre-Tax Earnings)
Income before provision for income taxes. It is needed to analyze profitability independent of tax structures.
⚙️ Cost & Drag Factors
Cost of Revenue (Production Cost)
Direct costs required to produce and deliver the products or services sold. It is needed to assess efficiency in production and service delivery.
Total Operating Expenses (Operating Cost)
Indirect costs of running the business such as salaries, marketing, and administration. It is needed to understand how much it costs to sustain ongoing business operations.
Income Tax Expense (Tax Drag)
Amount of taxes paid or payable to the government. It is needed to evaluate the impact of taxation on overall profitability.
About Chicago Atlantic Real Estate Finance Inc
Exchange NASDAQ | Headquarters 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. It engages in originating, structuring, and investing in first mortgage loans and alternative structured financings secured by commercial real estate properties. The company's loan portfolio is comprised of senior loans to state-licensed operators in the cannabis industry. It 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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