Chicago Atlantic Real Estate Finance, Inc. reported results; made a public disclosure
SEC 8-KRead source ↗
Chicago Atlantic Real Estate Finance, Inc. is a US-listed company in the mortgage REITs industry. Its financial year ends in December.
Who’s trading
What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.
- Insiders3 buying, 0 selling8 purchases and 0 sales by directors and officers, last 12 monthsInsider trades
- Funds60 adding, 36 cuttingOf 9 active managers that changed their stake, 5 added; quarter to June 30, 2026Fund buyers and sellers
The Fundamentalytics view
Current signal Several insiders buying shares: 3 insiders bought shares in the open market in the past 90 days, according to their Form 4 filings.
Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.
Highlights
How we pick theseStrengths
Nothing in Chicago Atlantic Real Estate Finance, Inc.'s latest figures clears our strength thresholds.
Things to watch
- Results due soon. Results are expected around 3 November; the share price can move sharply on the day.
- Short interest rising. Shares sold short rose 21% in a month to 6.9% of tradable shares.
- Missing expectations. Earnings per share fell short of the consensus estimate in 4 of the last four quarters.
Latest results
- Earnings per share
- $0.34 against an average estimate of $0.45: missed by 24.8%
- Share reaction
- +2.1% in the first session after the results on August 11, 2026, against -0.1% for the S&P 500
- Next report
- November 10, 2026
Price chart
- 1 day+0.2%
- 1 week-4.7%
- 1 month-11.9%
- This year-17.7%
- 1 year-18.6%
- S&P 500 this year+11.2%
Loading chart…
Third-party market data · may be delayed
At a glance
Earnings
- Last results
- August 11, 2026
- Next results (est.)
- November 3, 2026
News & updates
Company announcements, filed results and changes that matter to shareholders.
No model value for Chicago Atlantic Real Estate Finance, Inc. at the moment. Current status: limited reported history: available models are shown without a Buy/Hold/Sell rating. Available reported financials are shown below.
Valuation models
We value Chicago Atlantic Real Estate Finance, Inc. as a mortgage reit, with every model that fits that kind of business. Cost of equity 8.3%: the 10-year Treasury yield (4.9%) plus a beta of 0.74 times a 4.5% equity risk premium.
| Model | Value per share | In the combined value? |
|---|---|---|
| Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. | — | Does not apply: no twelve-month earnings or share count in the filings yet |
| Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. | — | Does not apply: no twelve-month earnings or share count in the filings yet |
| Price-to-book vs peers Book value per share times peers' typical (harmonic-mean) price-to-book. | — | Does not apply: no twelve-month earnings or share count in the filings yet |
| Dividend discount (growing dividend) Today's dividend growing 2.5% a year, discounted at the cost of equity. | — | Does not apply: no twelve-month earnings or share count in the filings yet |
| Combined value Weighted average of the models that apply: the primary model (residual income) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. | — | No model applies: the filings don’t yet support a value. |
Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Chicago Atlantic Real Estate Finance, Inc. with mortgage REITs in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.
Moat
Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Low.
Forecasts and guidance
Next results: November 10, 2026, before the open. Analysts expect revenue of $14m for the quarter.
Analysts' consensus
| Fiscal year | EPS | Growth | Revenue | Growth |
|---|---|---|---|---|
| Current | $1.32 | −21% | $55m | −1% |
| Next | $1.81 | +36% | $59m | +8% |
Next year's EPS estimate has moved 0.0% in 90 days, across 3 analysts.
How the EPS forecast has moved
The consensus EPS forecast for the current fiscal year is −17.6% on 90 days ago. In the last 30 days, 0 analysts raised Chicago Atlantic Real Estate Finance, Inc.'s forecast and 1 cut it.
Average of analysts' published estimates (third-party data).
View chart data
| Period | Current fiscal year | Next fiscal year |
|---|---|---|
| 90 days ago | $1.61 | $1.81 |
| 60 days ago | $1.61 | $1.81 |
| 30 days ago | $1.68 | $1.86 |
| 7 days ago | $1.68 | $1.86 |
| Now | $1.32 | $1.81 |
Earnings against estimates
| Quarter to | Estimate | Actual | Surprise |
|---|---|---|---|
| Jun 2026 | $0.45 | $0.34 | −24.8% |
| Mar 2026 | $0.44 | $0.23 | −47.7% |
| Dec 2025 | $0.40 | $0.38 | −5.6% |
| Sept 2025 | $0.46 | $0.42 | −8.7% |
Adjusted EPS as companies report it, against the average analyst estimate.
Positioning
- Short interest
- 6.9% of tradable shares
- Days to cover
- 6.73 at average volume
- Short interest, 1 month
- +21% to October 15, 2026
- Held by institutions
- 32% of shares
- Held by insiders
- 11.5% of shares
Share-price performance
Market data may be delayedReturn and risk by year
| Calendar year | 2022 | 2023 | 2024 | 2025 | 2026 to date |
|---|---|---|---|---|---|
| Return | |||||
| REFI | +3% | +24% | +9% | −9% | −18% |
| Industry peers (median) | −22% | +17% | +3% | +6% | −21% |
| S&P 500 | −18% | +26% | +25% | +18% | +11% |
| Months that ended higher | |||||
| REFI | 50% | 67% | 42% | 33% | 36% |
| S&P 500 | 42% | 67% | 75% | 75% | 46% |
| Largest fall from a high during the year | |||||
| REFI | −26% | −18% | −10% | −18% | −22% |
| S&P 500 | −25% | −10% | −8% | −19% | −9% |
Worst fall since December 8, 2021: 29% from March 3, 2025 to October 19, 2026. Getting back needed a 42% gain, and the shares have not yet recovered.
Price behaviour
- 52-week range
- $8.77 – $11.40
- From 52-week high
- −22.3%
- vs 50-day average
- −10.2%
- vs 200-day average
- −13.9%
- Volatility (1 year)
- 24%
- Beta vs S&P 500
- 0.45
Share price after results
- Next day
- 5 up, 7 down typical move ±1.9%
- After a week
- 6 up, 6 down typical move ±2.4%
- After a month
- 5 up, 7 down typical move ±4.2%
| Results released | Next day | S&P 500 next day | 5 days | 21 days |
|---|---|---|---|---|
| August 11, 2026 | +2.1% | −0.1% | +1.3% | +4.5% |
| May 7, 2026 | −2.4% | +0.5% | −7.6% | −8.2% |
| March 12, 2026 | −0.5% | −2.1% | +2.4% | −0.6% |
| November 4, 2025 | −1.5% | −0.8% | −1.1% | −2.8% |
| August 7, 2025 | +3.7% | +0.7% | +6.3% | +7.7% |
| May 7, 2025 | +1.7% | +1.1% | +1.3% | −1.6% |
| March 12, 2025 | −3.6% | −0.8% | −2.5% | −12.9% |
| November 7, 2024 | +1.5% | +1.2% | +0.1% | +3.9% |
| August 7, 2024 | −1.4% | +1.6% | −1.7% | +1.4% |
| May 7, 2024 | −2.4% | +0.1% | −0.8% | −1.9% |
| March 12, 2024 | −1.1% | +0.9% | −2.0% | −1.5% |
| November 8, 2023 | +0.5% | −0.7% | +1.7% | +4.0% |
Fundamentals
Who owns it
Funds buying and selling- Reported value
- $74.5M
- Institutions reporting
- 101
- Shares held vs prior quarter
- ▲ 9.5%
- Positions opened / closed
- 15 / 13
| Manager | Value | Shares | Share of 13F value | Shares QoQ |
|---|---|---|---|---|
| Blackrock, Inc. | $18.4M | 1.7M | 24.7% | ▲ 20.6% |
| Fielder Capital Group LLC | $10.5M | 982K | 14.1% | ▲ 2.3% |
| Vanguard Capital Management LLC | $8.5M | 788K | 11.3% | ▲ 8.3% |
| State Street Corp | $5.6M | 499K | 7.5% | ▼ 2.2% |
| Segall Bryant & Hamill, LLC | $2M | 189K | 2.7% | New |
| Cdc Financial, Inc. | $1.8M | 164K | 2.4% | ▲ 15.7% |
| Clayton Partners LLC | $1.7M | 155K | 2.2% | ▲ 3.3% |
| Corient Private Wealth LP | $1.6M | 153K | 2.2% | ▼ 2.2% |
| Northern Trust Corp | $1.6M | 147K | 2.1% | ▲ 3.9% |
| Vanguard Portfolio Management LLC | $1.3M | 126K | 1.8% | ▲ 20.5% |
| Vanguard Fiduciary Trust Co | $1.2M | 116K | 1.7% | ▲ 1.4% |
| Connor, Clark & Lunn Investment Management Ltd. | $1.2M | 114K | 1.6% | ▼ 2.1% |
From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Chicago Atlantic Real Estate Finance, Inc.'s complete shareholder register. Values are as reported by the filers .
Insider trading activity
Full insider history and chart Insider purchases History → $1.3M 8 trades by 3 insiders, last 12 months Insider sales History → $0 0 trades by 0 insiders
Net ▲ $1.3M net buying
| Insider | Date | Trade | Shares | Price | Value |
|---|---|---|---|---|---|
| Mazarakis John Executive Chairman | August 27, 2026 | Buy | 7,530 | $10.67 | $80,345 |
| Mazarakis John Executive Chairman | August 26, 2026 | Buy | 40,181 | $10.67 | $428,731 |
| Mazarakis John Executive Chairman | August 21, 2026 | Buy | 145 | $10.67 | $1,547 |
| Sack Peter Co-Chief Executive Officer | August 19, 2026 | Buy | 1,500 | $10.53 | $15,795 |
| Sack Peter Co-Chief Executive Officer | August 19, 2026 | Buy | 2,000 | $10.39 | $20,780 |
| Sack Peter Co-Chief Executive Officer | August 18, 2026 | Buy | 1,500 | $10.43 | $15,645 |
| Cappell Anthony Co-Chief Executive Officer | August 17, 2026 | Buy | 45,000 | $10.41 | $468,450 |
| Mazarakis John Executive Chairman | August 17, 2026 | Buy | 25,000 | $10.25 | $256,250 |
From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.
Earnings dates and SEC filings
Results announcements
Next expected around November 3, 2026 estimated from the company's past filing pattern, not announced
- August 11, 2026
- May 7, 2026
- March 12, 2026
- November 4, 2025
- August 7, 2025
- May 7, 2025
Recent SEC filings
- 8-K Current report
- 10-Q Quarterly report
- 8-K Current report
- 8-K Current report
- 8-K Current report
- 8-K Current report
- 10-Q Quarterly report
- DEF 14A Proxy statement
Data status
| Data | Last updated | Source |
|---|---|---|
| Share price | Exchange closing prices | |
| News and updates | Company releases and SEC 8-K filings | |
| Analyst estimates | Aggregated analyst estimates | |
| Valuation and scores | Our models, from the filed figures |
Chicago Atlantic Real Estate Finance, Inc. in brief
- What does Chicago Atlantic Real Estate Finance, Inc. do?
- Chicago Atlantic Real Estate Finance, Inc. is a US-listed company in the mortgage REITs industry. Its financial year ends in December.
- What is Chicago Atlantic Real Estate Finance, Inc.'s stock ticker?
- Chicago Atlantic Real Estate Finance, Inc. trades under the ticker REFI on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
- Who are Chicago Atlantic Real Estate Finance, Inc.'s largest institutional shareholders?
- By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Fielder Capital Group LLC and Vanguard Capital Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
- Are insiders buying or selling Chicago Atlantic Real Estate Finance, Inc. stock?
- Over the last 12 months, Chicago Atlantic Real Estate Finance, Inc.'s directors and officers reported 8 open-market purchases and 0 sales on Form 4. The insider trading page charts every trade.
- When is Chicago Atlantic Real Estate Finance, Inc.'s next earnings date?
- Around November 10, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Chicago Atlantic Real Estate Finance, Inc. announces its own schedule.
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