Group 1 - Chicago Atlantic Real Estate Finance declared a base quarterly cash dividend of $0.47 per share, unchanged from the previous distribution, resulting in an annualized dividend of $1.88 per share, which equates to a 13.52% dividend yield [1] - The mortgage REIT has maintained this base quarterly dividend, indicating stability in its dividend policy [1] Group 2 - Pacifica Yield focuses on long-term wealth creation by targeting undervalued yet high-growth companies, high-dividend stocks, REITs, and firms in the green energy sector [1]

CHICAGO, April 17, 2025 (GLOBE NEWSWIRE) -- Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) ("Chicago Atlantic" or the "Company"), a commercial mortgage real estate investment trust, announced details for the release of its results for the first quarter ended March 31, 2025. The Company plans to issue its earnings release and supplemental financial information before the market opens on Wednesday, May 7, 2025. Chicago Atlantic will host a conference call and live audio webcast, both open for the ge ...

CHICAGO, March 17, 2025 (GLOBE NEWSWIRE) -- Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI), a commercial mortgage real estate investment trust, announced that its board of directors has declared a regular quarterly cash dividend of $0.47 per share for the first quarter of 2025. The regular quarterly dividend, which equates to an annualized rate of $1.88 per common share, is payable on April 15, 2025, to shareholders of record as of the close of business on March 31, 2025. About Chicago Atlantic Re ...

Financial Data and Key Metrics Changes - The company's net interest income for Q4 was $14.1 million, a decrease of 2.7% from $14.5 million in Q3, primarily due to a 50 basis point decrease in the prime rate [21] - The total operating expenses, excluding management incentive fees and provision for credit losses, increased by approximately $250,000 quarter over quarter [24] - The book value per common share decreased to $14.83 as of December 31, 2024, from $14.94 as of December 31, 2023, mainly due to dividends paid in excess of GAAP net income [29] Business Line Data and Key Metrics Changes - The loan portfolio principal totaled $410 million across thirty portfolio companies, with a weighted average yield to maturity of 17.2%, down from 18.3% at the end of Q3 [16] - Gross origination during Q4 was $90.7 million, with $52.6 million funded to new borrowers and $38.1 million to existing borrowers [16] - The cannabis pipeline across the Chicago Atlantic platform now stands at approximately $490 million, with current liquidity of approximately $67 million [12] Market Data and Key Metrics Changes - The US cannabis industry is experiencing muted conditions due to the failure of Florida's adult-use ballot initiative and pricing pressure in some markets, leading to near record lows in equity values [7][8] - The company has diversified its investments across nine states, including Ohio, Nevada, Illinois, Florida, Pennsylvania, Missouri, and Minnesota [11] Company Strategy and Development Direction - The company focuses on deploying capital with consumer and product-focused operators in limited license jurisdictions, maintaining a low leverage profile [11] - The strategy emphasizes credit and collateral first, aiming to create a differentiated and low-levered risk-return profile insulated from cannabis equity volatility [9] - The company aims to be the number one top-performing exchange-listed mortgage REIT, currently ranked third based on total return [10] Management's Comments on Operating Environment and Future Outlook - Management noted ongoing uncertainty surrounding tax policy, economy, tariffs, inflation, and Federal Reserve interest rate direction [18] - The company plans to maintain a dividend payout ratio based on basic distributable earnings per share of 90% to 100% for 2025 [31] - Management expressed confidence in the ability to execute for shareholders despite challenges in the industry [14] Other Important Information - The company raised approximately $38.4 million of net proceeds from common stock issuances through its ATM program [27] - The debt service coverage ratio on a consolidated basis was approximately 5.5 to 1, significantly above the requirement of 1.35 to 1 [20] Q&A Session Summary Question: Can you talk about demand for loans and leverage expectations? - Management indicated that while the profile of demand has changed due to compressed equity valuations, the maturation of the industry offsets this change [34] Question: Update on credit quality and loan number nine? - Overall credit quality remains stable, with only one loan on non-accrual status. Management is working to remedy operational issues with loan number nine [36][37] Question: Thoughts on scheduling and industry reform? - Management stated that the industry is awaiting clearer signals from the administration regarding reform, but they will continue to invest assuming no changes occur [40] Question: How do you view the impact of 280E on borrowers? - Management considers unpaid tax liabilities as a form of indebtedness and incorporates this into their underwriting process [45] Question: Update on New York market? - Management expressed encouragement regarding the progress in New York, highlighting the opening of stores and crackdowns on illegal operators [55] Question: Thoughts on the upcoming debt maturities in 2026? - Management aims to be a lender of choice as maturities arise, emphasizing that the market will likely work through these maturities in a normal course [75]

Group 1 - Chicago Atlantic Real Estate Finance, Inc. reported quarterly earnings of $0.46 per share, missing the Zacks Consensus Estimate of $0.48 per share, and down from $0.53 per share a year ago, representing an earnings surprise of -4.17% [1] - The company posted revenues of $14.07 million for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 0.13%, but down from $14.84 million year-over-year [2] - The stock has added about 3% since the beginning of the year, while the S&P 500 has declined by -5.3% [3] Group 2 - The earnings outlook for Chicago Atlantic Real Estate Finance is mixed, with the current consensus EPS estimate for the coming quarter at $0.54 on revenues of $14.26 million, and $2.11 on revenues of $57.57 million for the current fiscal year [7] - The Zacks Industry Rank for Financial - Miscellaneous Services is currently in the top 16% of over 250 Zacks industries, indicating a favorable outlook for the industry [8] Group 3 - The company has surpassed consensus EPS estimates just once over the last four quarters, while it has topped consensus revenue estimates two times in the same period [2] - The current status of estimate revisions translates into a Zacks Rank 3 (Hold) for the stock, suggesting it is expected to perform in line with the market in the near future [6]

Financial Performance - Net income for the fourth quarter of 2024 was approximately $7.9 million, or $0.39 per weighted average diluted common share, a sequential decrease of 30.1%[10] - Net income for Q4 2024 was $7,919,692, a decrease of 15.7% from $9,397,523 in Q4 2023[20] - Total revenues for the year ended December 31, 2024, were $62,104,092, slightly down from $62,900,004 in 2023[20] - Net interest income for Q4 2024 was $14,068,376, compared to $14,839,485 in Q4 2023, reflecting a decrease of 5.2%[20] - Distributable earnings for the fourth quarter of 2024 were approximately $9.2 million, or $0.47 and $0.46 per basic and diluted weighted average common share, respectively[10] - Distributable Earnings for Q4 2024 were $9,214,434, compared to $9,863,450 in Q4 2023, a decline of 6.6%[24] - Basic Distributable Earnings per Weighted Average Share for Q4 2024 was $0.47, down from $0.54 in Q4 2023[24] - Diluted Distributable Earnings per Weighted Average Share for Q4 2024 was $0.46, compared to $0.53 in Q4 2023[24] Expenses and Costs - Total expenses for the fourth quarter of 2024 were approximately $5.7 million, representing a sequential increase of approximately 34.1%[10] - Total expenses for the year ended December 31, 2024, were $17,737,306, down from $18,617,241 in 2023, indicating a reduction of 4.7%[20] - Management and incentive fees for Q4 2024 were $2,863,158, a decrease from $3,243,775 in Q4 2023[20] - Stock-based compensation for the year ended December 31, 2024, was $3,058,674, significantly higher than $1,479,736 in 2023[20] Portfolio and Loans - As of December 31, 2024, total loan principal outstanding was $410.2 million across 30 portfolio companies, with $20.9 million of unfunded commitments[6] - The portfolio weighted average yield to maturity was approximately 17.2% as of December 31, 2024, down from 18.3% as of September 30, 2024[6] - The total reserve for current expected credit losses increased to $4.3 million, approximately 1.1% of the aggregate portfolio principal balance of loans held for investment[10] Shareholder Returns - The company declared a total of $2.06 in dividends per common share during 2024, compared to $2.17 during 2023[10] Leverage and Book Value - As of December 31, 2024, the company had a consolidated leverage ratio of approximately 34%[6] - The book value per common share decreased from $14.94 as of December 31, 2023, to $14.83 as of December 31, 2024[10] Future Projections - The company expects net interest income of approximately $14.1 million for full year 2025, compared to $14.5 million as of September 30, 2024[10] Share Count - The weighted average number of common shares outstanding increased to 19,830,596 in Q4 2024 from 18,182,403 in Q4 2023[24]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-41123 CHICAGO ATLANTIC REAL ESTATE FINANCE, INC. (Exact name of Registrant as specified in its charter) | Maryland | 86-3125132 | | --- | --- | | (State or other jurisdiction of ...

CHICAGO, March 12, 2025 (GLOBE NEWSWIRE) -- Chicago Atlantic Real Estate Finance, Inc. (NASDAQ: REFI) (“Chicago Atlantic” or the “Company”), a commercial mortgage real estate investment trust, today announced its results for the fourth quarter and year ended December 31, 2024. Peter Sack, Co-Chief Executive Officer, noted, “Since establishing the Chicago Atlantic platform in 2019, we have maintained a disciplined underwriting process that reflects the core tenets of successful direct lending. We focus on st ...

CHICAGO, Feb. 26, 2025 (GLOBE NEWSWIRE) -- Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) ("Chicago Atlantic" or the "Company"), a commercial mortgage real estate investment trust, announced details for the release of its results for the fourth quarter and year ended December 31, 2024. The Company plans to issue its earnings release and supplemental financial information before the market opens on Wednesday, March 12, 2025. Chicago Atlantic will host a conference call and live audio webcast, both ...

Core Points - Chicago Atlantic Real Estate Finance, Inc. declared a special cash dividend of $0.18 per common share for the 2024 tax year to comply with U.S. federal income tax rules for REITs [1] - The special dividend is based on estimated performance for the year ending December 31, 2024, and is payable on January 13, 2025, to shareholders of record as of December 31, 2024 [1] - The company also announced a regular quarterly cash dividend of $0.47 per common share for the fourth quarter of 2024, which annualizes to $1.88 per common share [3] - The regular quarterly dividend is also payable on January 13, 2025, to shareholders of record as of December 31, 2024 [3] Company Overview - Chicago Atlantic Real Estate Finance, Inc. is a market-leading commercial mortgage REIT that focuses on originating senior secured loans primarily to state-licensed cannabis operators in limited-license states in the U.S. [2] - The company has closed over $2.3 billion in credit facilities since its inception and operates offices in Chicago, Miami, New York, and London [2]