Chicago Atlantic Real Estate Finance, Inc. REFI | NASDAQ
$10.03
$0.01 | 0.10%
SIGNAL:
|2026-09-28
|F&G 29
|RSI 30.8
|2026-09-28
|F&G 29
|RSI 30.8
Company Overview:
Market Cap:
$211.79M
Trailing PE:
7.3x
FWD PE *:
5x
Payout Ratio (TTM):
138.2%
52-Week Range:
$9.69 - $13.49
* Forward PE is based on street estimates.
4.8 Year REFI Performance Metrics:
Total Return (with DRIP):
5.7% (1.16% CAGR)
Total Return (no DRIP):
8.9% (1.78% CAGR)
Share Price:
-39.2% (-9.84% CAGR)
Yield on Cost (with DRIP):
19.81%
Total Invested:
$10,000
Total Value (with DRIP):
$10,570
Total Return $ (with DRIP):
$570
Dividend Increase:
0.0% (0.00% CAGR)
Dividend Yield (FWD):
18.74% ($1.88)
REFI 4.8-yr Total Return ($10K invested)
1M
3M
6M
YTD
1Y
3Y
5Y
10Y
REFI Share Price
1M
3M
6M
YTD
1Y
3Y
5Y
10Y
All
REFI Price CAGR:1Y: -20.33%2Y: -19.27%5Y: -9.81%10Y: -9.81%
REFI Dividend Charts
REFI Dividend CAGR:1Y: 0.00%2Y: 0.00%5Y: 3.65%10Y: 3.65%
REFI Dividend Payout Ratio CAGR:1Y: 24.35%2Y: 20.48%5Y: 0.00%10Y: 0.00%
REFI Dividend to FCF Ratio CAGR:1Y: -25.28%2Y: -9.99%5Y: 0.00%10Y: 0.00%
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REFI Fundamentals: Earnings, Revenue, Cash Flow, Ebitda, Cash/Debt, Shares Float, etc:
REFI Revenue CAGR:1Y: -13.57%2Y: -8.38%5Y: 61.78%10Y: 0.00%
REFI EPS CAGR:1Y: -17.07%2Y: -14.03%5Y: 40.91%10Y: 0.00%
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REFI Net Income CAGR:1Y: -15.82%2Y: -9.79%5Y: 47.55%10Y: 0.00%
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REFI EBITDA CAGR:1Y: 0.00%2Y: -5.43%5Y: 55.47%10Y: 0.00%
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REFI Free Cash Flow CAGR:1Y: 40.10%2Y: 20.75%5Y: 44.15%10Y: 0.00%
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REFI Free Cash Flow / Share CAGR:1Y: 38.52%2Y: 15.33%5Y: 38.59%10Y: 0.00%
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REFI Operating Income CAGR:1Y: 0.00%2Y: -5.43%5Y: 55.47%10Y: 0.00%
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REFI Gross Profit CAGR:1Y: -6.68%2Y: 1.38%5Y: 66.36%10Y: 0.00%
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REFI Shares Outstanding CAGR:1Y: 1.06%2Y: 4.48%5Y: 4.46%10Y: 0.00%
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REFI Share Buybacks CAGR:1Y: 0.00%2Y: 0.00%5Y: 0.00%10Y: 0.00%
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REFI Stock-Based Comp CAGR:1Y: 8.68%2Y: 7.00%5Y: 0.00%10Y: 0.00%
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REFI Expenses CAGR:1Y: 0.00%2Y: 0.00%5Y: 0.00%10Y: 0.00%
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Revenue, EPS, Net Income & Ebitda - Estimates VS Actual:
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REFI Actual Revenue CAGR:1Y: -13.57%2Y: -8.38%5Y: 61.78%10Y: 0.00%
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REFI Actual EPS CAGR:1Y: -17.07%2Y: -14.03%5Y: 40.91%10Y: 0.00%
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REFI Actual Net Income CAGR:1Y: -15.82%2Y: -9.79%5Y: 47.55%10Y: 0.00%
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REFI Actual EBITDA CAGR:1Y: 0.00%2Y: -5.43%5Y: 55.47%10Y: 0.00%
Ratios, Profit Margins & Return on Capital:
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REFI Net Profit Margin CAGR:1Y: -19.29%2Y: -10.38%5Y: -12.16%10Y: 0.00%
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REFI Gross Profit Margin CAGR:1Y: -10.54%2Y: 0.72%5Y: -2.20%10Y: 0.00%
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REFI Price to Earnings CAGR:1Y: -7.85%2Y: -1.73%5Y: -35.26%10Y: 0.00%
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REFI Price To Sales Ratio CAGR:1Y: -25.54%2Y: -12.15%5Y: -43.19%10Y: 0.00%
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REFI Return on Capital Employed CAGR:1Y: 0.00%2Y: -10.24%5Y: 0.00%10Y: 0.00%
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REFI Return on Invested Capital CAGR:1Y: 0.00%2Y: 0.00%5Y: 0.00%10Y: 0.00%
REFI Dividends Info:
Annual Dividend:
$1.88
Forward Yield:
18.74%
Ex-Dividend Date:
2026-09-30
Lifetime Dividends / Share:
$9.62
REFI Dividend History: Dates, Payments & Yield list
Below is a schedule of all REFI dividend payments, ex-dates, share price on the day of the payment as well as the annualized yield & forward yield
| Ex-Date | Payment Date | Amount | Yield | Forward Yield | Price on Ex-Date |
|---|---|---|---|---|---|
| 09/30/2026 | 10/02/2026 | $0.470 | 18.76% | 0% | $0.00 |
| 06/30/2026 | 07/02/2026 | $0.470 | 17.54% | 17.6% | $10.68 |
| 03/31/2026 | 04/02/2026 | $0.470 | 16.61% | 17.08% | $11.01 |
| 12/31/2025 | 01/02/2026 | $0.470 | 15.33% | 15.33% | $12.26 |
| 09/30/2025 | 10/02/2025 | $0.470 | 14.7% | 14.63% | $12.85 |
| 06/30/2025 | 07/02/2025 | $0.470 | 13.47% | 13.21% | $14.23 |
| 03/31/2025 | 04/02/2025 | $0.470 | 12.79% | 12.71% | $14.79 |
| 12/31/2024 | 01/02/2025 | $0.650 | 16.86% | 16.72% | $15.55 |
| 09/30/2024 | 10/02/2024 | $0.470 | 12.12% | 12.25% | $15.35 |
| 06/28/2024 | 07/01/2024 | $0.470 | 12.24% | 12.51% | $15.03 |
| 03/27/2024 | 03/29/2024 | $0.470 | 11.98% | 12.23% | $15.37 |
| 12/28/2023 | 01/01/2024 | $0.760 | 18.94% | 18.68% | $16.27 |
| 09/28/2023 | 10/02/2023 | $0.470 | 12.79% | 12.86% | $14.62 |
| 06/29/2023 | 07/03/2023 | $0.470 | 12.48% | 12.45% | $15.10 |
| 03/30/2023 | 04/03/2023 | $0.470 | 14.18% | 13.86% | $13.56 |
| 12/29/2022 | 01/13/2023 | $0.760 | 20.27% | 19.28% | $15.77 |
| 09/29/2022 | 10/14/2022 | $0.470 | 12.92% | 12.5% | $15.04 |
| 06/29/2022 | 07/15/2022 | $0.470 | 12.1% | 12.96% | $14.51 |
| 03/30/2022 | 04/14/2022 | $0.400 | 9% | 9.08% | $17.63 |
Projected Future Returns & Dividends for REFI
Based on past 4.8-year performance, here are REFI growth metrics:
Share price CAGR of -9.84%
Dividend CAGR of +3.68%
Using REFI CAGR metrics, we can estimate that your initial $10000 investment, over the next 10 years, should grow as follows:
| REFI (DRIP) | REFI - No DRIP | |
|---|---|---|
| Current Price | $10.03 | $10.03 |
| Start Shares | 997.01 | 997.01 |
| Start Value | $10,000 | $10,000 |
| After 10 years: | ||
| Final Share Count | 36,867.52 | 997.01 |
| Dividends Payment | $0.67 | $0.67 |
| Annual Dividends | $99,437 | $2,689 |
| Yield on cost | 994.37% | 26.89% |
| Share Price | $3.56 | $3.56 |
| Total Dividends | $164,565 | $22,168 |
| Final Value | $131,254 | $25,717 |
Estimated Future Value + Dividends - REFI
NOTE: Above numbers are our estimate based on REFI's Dividend and Price CAGR over past 4.8 years.
These numbers should only be considered as "potential future returns"! DRIP assumes reinvesting dividends; No-DRIP assumes collecting dividends as cash.
We cannot guarantee that your actual returns will meet these estimates.
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Company Info
Chicago Atlantic Real Estate Finance, Inc. (REFI) had its IPO on 2021-12-08, and is traded on NASDAQ stock exchange.
Chicago Atlantic Real Estate Finance, Inc. functions as a commercial real estate financing enterprise operating throughout the United States. Its primary activities include developing, arranging, and deploying capital into various secured debt instruments, notably first mortgage loans, which are collateralized by commercial properties. A specific area of focus for the company is extending senior-priority loans to both state-approved operators and property owners within the legal cannabis industry. Chicago Atlantic has chosen to be taxed as a Real Estate Investment Trust (REIT), which allows it to avoid federal corporate income tax, conditional on distributing a minimum of 90% of its taxable profits to its investors. The firm was established in 2021 and is headquartered in Chicago, Illinois.
REFI website: https://investors.refi.reit
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DCF Model — REFI
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vs current price $10.03
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Cash flow & implied price by year
FCF is negative or missing for this company (common for banks) — the model discounts EPS instead.
EPS is negative or missing for this company — Simple mode uses free cash flow per share instead.
Free cash flow today
—
grows for the next years
Then mature
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every future dollar counted back to today
Pile of today-dollars
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÷ shares
Implied price path
| Year | FCF | Implied price |
|---|
Sensitivity — fair value: growth ↓ × target return →
