REFI Chicago Atlantic Real Estate Finance, Inc. - Common Stock
NASDAQ · Real Estate · View on SEC EDGAR ↗ close Oct 2, 2026 10-K/10-Q Aug 11, 2026
$10.06
· of 52w range
· above low
· to high
$9.6952w low
$13.4952w high
Market Cap (MRQ)
$214M
P/E
6.0
EPS
$1.68
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52W Range
$10–$13
Analyst Rating
BUY
Price Target
$15
P/E
6.0
ROE
11.7%
Net Profit Margin
65.0%
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REFI Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$10.06
Market Cap (MRQ)
$214M
P/E
6.0
EPS
$1.68
Div Yield
20.7%
ROE
11.7%
52W Range
$10–$13
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue·2022-12-31 → 2022-12-31
EPS$1.682022-12-31 → 2025-12-31
Net margin65.0%2022-12-31 → 2025-12-31
Valuation & Ratios
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
| Metric | 5Y trend | REFI | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| P/E | 6.05Y avg ≈7.9 | ≈7.9 | 6.7 | Overvalued | |
| P/S | 4.05Y avg ≈5.5 | ≈5.5 | 4.5 | Overvalued | |
| P/B (MRQ) | 0.75Y avg ≈1.0 | ≈1.0 | 0.6 | Overvalued | |
| Price / Cash Flow | 7.45Y avg ≈12.2 | ≈12.2 | 9.0 | Fair value | |
| Price / Tangible Book | 0.75Y avg ≈1.0 | ≈1.0 | · | · |
Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.
Profitability Gross, operating and net margins; ROE, ROA, ROIC
| Metric | 5Y trend | REFI | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Pretax Margin | 65.0%5Y avg ≈66.6% | ≈66.6% | 31.5% | Top tier | |
| Net Profit Margin | 65.0%5Y avg ≈66.6% | ≈66.6% | 30.5% | Top tier | |
| ROA | 8.4%5Y avg ≈9.8% | ≈9.8% | -0.05% | Top tier | |
| ROE | 11.7%5Y avg ≈12.5% | ≈12.5% | -0.17% | Top tier |
Financial Health Debt, liquidity, solvency — balance sheet strength
No data for this ratio group yet
Not enough fundamentals data to compute this ratio group yet.
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
| Metric | 5Y trend | REFI | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| EPS YoY | -10.6%5Y avg ≈-1.9% | ≈-1.9% | · | · | |
| Net Income YoY | -2.8%5Y avg ≈4.3% | ≈4.3% | · | · | |
| EPS CAGR 3Y | -2.6% | · | · | · | |
| Net Income CAGR 3Y | 3.7% | · | · | · |
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
| Metric | 5Y trend | REFI | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Asset Turnover | 0.15Y avg ≈0.1 | ≈0.1 | 0.0 | Top tier |
value · ≈ 5Y avg · industry median · verdict relative to median
Dividends Yield, payout ratio, dividend history, 5Y CAGR
Dividend Yield20.7%
Payout Ratio121.8%
Annualized Payout≈$1.88
| Ex-date | Amount | Currency | Yield |
|---|---|---|---|
| Jun 30, 2026 | $0.47 | USD | ≈17.5% |
| Mar 31, 2026 | $0.47 | USD | ≈16.6% |
| Dec 31, 2025 | $0.47 | USD | ≈15.3% |
| Sep 30, 2025 | $0.47 | USD | ≈16.1% |
| Jun 30, 2025 | $0.47 | USD | ≈14.8% |
| Mar 31, 2025 | $0.47 | USD | ≈14.0% |
| Dec 31, 2024 | $0.65 | USD | ≈13.4% |
| Sep 30, 2024 | $0.47 | USD | ≈14.0% |
| Jun 28, 2024 | $0.47 | USD | ≈14.1% |
| Mar 27, 2024 | $0.47 | USD | ≈13.8% |
| Dec 28, 2023 | $0.76 | USD | ≈18.3% |
| Sep 28, 2023 | $0.47 | USD | ≈14.8% |
| Jun 29, 2023 | $0.47 | USD | ≈14.4% |
| Mar 30, 2023 | $0.47 | USD | ≈16.4% |
| Dec 29, 2022 | $0.76 | USD | ≈14.0% |
| Sep 29, 2022 | $0.47 | USD | ≈9.2% |
| Jun 29, 2022 | $0.47 | USD | ≈5.6% |
| Mar 30, 2022 | $0.40 | USD | ≈2.2% |
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
-15.4%
Next Report
Nov 02, 2026
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| June 30, 2026 | Aug 11, 2026 | $0.34 | $0.44 | -22.9% |
| March 31, 2026 | May 12, 2026 | $0.23 | $0.44 | -47.3% |
| Dec. 31, 2025 | $0.38 | $0.41 | -6.9% | |
| Sept. 30, 2025 | $0.42 | $0.45 | -6.4% | |
| June 30, 2025 | $0.41 | $0.45 | -9.2% | |
| March 31, 2025 | $0.47 | $0.47 | 0.17% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Revenue | · | · | · | $49M | |
| SG&A Expense | $5M | $5M | $5M | $4M | |
| Operating Expenses | · | · | · | $17M | |
| Interest Expense | · | · | $6M | $3M | |
| Interest Income | $63M | $62M | $63M | $51M | |
| Pretax Income | $36M | $37M | $39M | $32M | |
| Income Tax | $0 | $0 | $0 | $0 | |
| Net Income | $36M | $37M | $39M | $32M | |
| EPS (Basic) | $1.71 | $1.92 | $2.14 | $1.83 | |
| EPS (Diluted) | $1.68 | $1.88 | $2.11 | $1.82 | |
| Shares (Basic) | 21,003,635 | 19,279,501 | 18,085,088 | 17,653,765 | |
| Shares (Diluted) | 21,431,650 | 19,713,916 | 18,343,725 | 17,746,214 |
Balance Sheet
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Cash & Equivalents | $15M | $26M | $8M | $6M | |
| Inventory | · | · | · | $1M | |
| Other Current Assets | $1M | $3M | $107.2K | · | |
| Total Assets | $425M | $435M | $359M | $343M | |
| Total Liabilities | $117M | $126M | $87M | $79M | |
| Long-term Debt | $49M | $49M | · | · | |
| Total Debt | · | · | · | $336M | |
| Common Stock | $210.8K | $208.3K | $182.0K | $176.9K | |
| Paid-in Capital | · | · | · | $269M | |
| Retained Earnings | $-16M | $-10M | $-6M | $-5M | |
| Stockholders' Equity | $308M | $309M | $272M | $264M | |
| Liabilities + Equity | $425M | $435M | $359M | $343M | |
| Shares Outstanding | 21,080,272 | 20,829,228 | 18,197,192 | 17,685,952 |
Cash Flow
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Stock-based Comp | $3M | $3M | $1M | $435.6K | |
| Operating Cash Flow | $29M | $23M | $28M | $17M | |
| Investing Cash Flow | $9M | $-39M | $-2M | $-125M | |
| Stock Issued | $1M | $40M | $7M | $5M | |
| Net Stock Activity | $1M | $40M | $7M | $5M | |
| Dividends Paid | $44M | $42M | $39M | $28M | |
| Financing Cash Flow | $-49M | $35M | $-24M | $34M |
Profitability
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Net Margin | 65.0% | 67.4% | 67.7% | 66.1% | |
| Pretax Margin | 65.0% | 67.4% | 67.7% | 66.1% | |
| ROA | 8.4% | 9.3% | 11.0% | 10.4% | |
| ROE | 11.7% | 12.3% | 14.1% | 12.1% |
Liquidity & Solvency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Debt / Equity | · | · | · | 1.3 |
Efficiency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Asset Turnover | 0.1 | 0.1 | 0.2 | 0.2 |
Per Share
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Book Value / Share | $14.60 | $14.83 | $14.94 | $14.86 | |
| Revenue / Share | $2.58 | $2.79 | $3.12 | $2.75 | |
| Cash Flow / Share | $1.34 | $1.17 | $1.55 | $0.96 | |
| Cash / Share | $0.71 | $1.27 | $0.43 | $0.32 | |
| Dividend / Share | $1.88 | $2.06 | $2.17 | $2.10 | |
| EPS (TTM) | $1.68 | $1.88 | $2.11 | $1.82 |
Growth Rates
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| EPS YoY | -10.6% | -10.9% | 15.9% | · | |
| EPS CAGR 3Y | -2.6% | · | · | · | |
| Net Income YoY | -2.8% | -4.3% | 19.9% | · | |
| Net Income CAGR 3Y | 3.7% | · | · | · |
Valuation (TTM)
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Revenue TTM | $53M | $53M | $53M | $49M | |
| Net Income TTM | $36M | $37M | $39M | $32M | |
| Market Cap | $258M | $321M | $294M | $268M | |
| Enterprise Value | · | · | · | $598M | |
| P/E | 7.3 | 8.2 | 7.7 | 8.3 | |
| P/S | 4.9 | 6.1 | 5.6 | 5.5 | |
| P/B | 0.8 | 1.0 | 1.1 | 1.0 | |
| P / Tangible Book | 0.8 | 1.0 | 1.1 | 1.0 | |
| P / Cash Flow | 9.0 | 13.9 | 10.4 | 15.7 | |
| EV / Revenue | · | · | · | 12.2 | |
| Dividend Yield | 17.0% | 13.0% | 13.3% | 10.5% | |
| Earnings Yield | 13.7% | 12.2% | 13.0% | 12.1% | |
| Payout Ratio | 121.8% | 112.4% | 101.1% | 87.2% | |
| Annual Payout | $44M | $42M | $39M | $28M |
Income Statement
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | · | · | · | · | · | · | · | · | · | · | · | · | $14M | $15M | · | $13M | |
| SG&A Expense | $2M | $1M | $2M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | |
| Operating Expenses | · | · | · | · | · | · | · | · | · | · | · | · | $5M | $4M | · | $3M | |
| Interest Expense | · | · | · | · | · | · | · | $2M | $2M | $2M | · | $1M | $994.9K | $2M | $1M | $861.3K | |
| Interest Income | $15M | $15M | $16M | $15M | $17M | $15M | $15M | $16M | $15M | $15M | $17M | $15M | $15M | $17M | $16M | $14M | |
| Pretax Income | $7M | $5M | $8M | $9M | $9M | $10M | $8M | $11M | $9M | $9M | $9M | $10M | $9M | $11M | $7M | $10M | |
| Income Tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | · | · | |
| Net Income | $7M | $5M | $8M | $9M | $9M | $10M | $8M | $11M | $9M | $9M | $9M | $10M | $9M | $11M | $7M | $10M | |
| EPS (Basic) | $0.35 | $0.23 | $0.39 | $0.42 | $0.42 | $0.48 | $0.40 | $0.57 | $0.47 | $0.48 | $0.51 | $0.55 | $0.48 | $0.60 | $0.42 | $0.55 | |
| EPS (Diluted) | $0.34 | $0.23 | $0.38 | $0.42 | $0.41 | $0.47 | $0.39 | $0.56 | $0.46 | $0.47 | $0.50 | $0.54 | $0.47 | $0.60 | $0.41 | $0.55 | |
| Shares (Basic) | 21,242,557 | 21,080,272 | · | 21,074,771 | 21,002,787 | 20,858,466 | · | 19,625,190 | 19,378,445 | 18,273,919 | · | 18,175,467 | 18,094,288 | 17,879,444 | · | 17,657,913 | |
| Shares (Diluted) | 21,713,882 | 21,484,118 | · | 21,485,776 | 21,487,106 | 21,264,891 | · | 20,058,417 | 19,890,376 | 18,640,492 | · | 18,562,930 | 18,273,512 | 17,960,103 | · | 17,752,290 |
Balance Sheet
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $13M | $28M | $15M | $29M | $36M | $10M | $26M | $7M | $7M | $7M | $8M | $9M | $18M | $5M | $6M | $9M | |
| Inventory | · | · | · | · | · | · | · | · | · | · | · | · | $994.8K | · | · | · | |
| Other Current Assets | $1M | $65.8K | $1M | $26.4K | $879.2K | $1M | $3M | $1M | $838.9K | $192.4K | $107.2K | · | · | · | · | · | |
| Total Assets | $462M | $436M | $425M | $427M | $455M | $415M | $435M | $366M | $386M | $384M | $359M | $352M | $331M | $323M | $343M | $340M | |
| Total Liabilities | $160M | $133M | $117M | $117M | $145M | $104M | $126M | $70M | $94M | $98M | $87M | $77M | $57M | $51M | $79M | $70M | |
| Long-term Debt | $49M | $49M | $49M | $49M | $49M | $49M | · | $54M | $77M | · | · | · | · | · | · | · | |
| Total Debt | · | · | · | · | · | · | · | · | · | · | · | · | $316M | $314M | · | $330M | |
| Common Stock | $213.1K | $210.8K | $210.8K | $210.8K | $210.7K | $208.9K | $208.3K | $196.3K | $196.2K | $191.0K | $182.0K | $181.8K | $181.8K | $180.9K | $176.9K | $176.6K | |
| Paid-in Capital | · | · | · | · | · | · | · | · | · | · | · | · | $276M | $275M | · | $269M | |
| Retained Earnings | $-24M | $-21M | $-16M | $-13M | $-12M | $-10M | $-10M | $-4M | $-6M | $-6M | $-6M | $-1M | $-3M | $-3M | $-5M | $1M | |
| Stockholders' Equity | $302M | $303M | $308M | $310M | $310M | $311M | $309M | $295M | $293M | $286M | $272M | $276M | $274M | $272M | $264M | $270M | |
| Liabilities + Equity | $462M | $436M | $425M | $427M | $455M | $415M | $435M | $366M | $386M | $384M | $359M | $352M | $331M | $323M | $343M | $340M | |
| Shares Outstanding | 21,314,392 | 21,080,272 | 21,080,272 | 21,075,298 | 21,074,625 | 20,893,785 | 20,829,228 | 19,634,482 | 19,624,458 | 18,197,192 | 18,197,192 | 18,182,241 | 18,175,393 | 18,088,683 | 17,685,952 | 17,742,915 |
Cash Flow
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock-based Comp | $957.6K | $865.4K | $909.8K | $928.7K | $881.1K | $649.3K | $845.5K | $845.5K | $836.3K | $531.3K | $537.1K | $540.4K | $263.8K | $138.3K | $107.3K | $84.9K | |
| Operating Cash Flow | $9M | $3M | $7M | $8M | $6M | $8M | $2M | $8M | $6M | $7M | $16M | $1000.0K | $10M | $2M | $5M | $5M | |
| Investing Cash Flow | $-37M | $2M | $-7M | $14M | $-4M | $6M | $-41M | $24M | $-3M | $-19M | $-11M | $-22M | $5M | $25M | $-5M | $-2M | |
| Stock Issued | $0 | $0 | $0 | $0 | $0 | $1M | $19M | $43.5K | $11M | $10M | $0 | $0 | $1M | $6M | $0 | $0 | |
| Net Stock Activity | · | $0 | · | · | · | $1M | · | · | · | $10M | · | · | · | $6M | · | · | |
| Dividends Paid | $11M | $10M | $10M | $10M | $10M | $14M | $9M | $9M | $9M | $14M | $9M | $9M | $9M | $13M | $8M | $8M | |
| Financing Cash Flow | $13M | $8M | $-13M | $-29M | $23M | $-30M | $59M | $-32M | $-3M | $11M | $-6M | $11M | $-2M | $-28M | $-4M | $-299.2K |
Profitability
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Margin | 58.2% | 36.9% | · | 65.3% | 61.5% | 77.0% | · | 77.5% | 69.7% | 65.9% | · | 72.6% | 63.3% | 71.7% | · | 75.5% | |
| Pretax Margin | 58.2% | 36.9% | · | 65.3% | 61.5% | 77.0% | · | 77.5% | 69.7% | 65.9% | · | 72.6% | 63.3% | 71.7% | · | 75.5% | |
| ROA | 1.6% | 1.1% | · | 2.2% | 2.1% | 2.5% | · | 3.1% | 2.6% | 2.5% | · | 2.9% | 2.6% | 3.5% | · | 5.7% | |
| ROE | 2.4% | 1.6% | · | 2.9% | 2.9% | 3.4% | · | 3.9% | 3.2% | 3.1% | · | 3.6% | 3.2% | 4.0% | · | 7.2% |
Liquidity & Solvency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | · | · | · | · | · | · | · | · | · | · | · | · | 1.2 | 1.2 | · | 1.2 |
Efficiency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.1 |
Per Share
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $14.15 | $14.39 | · | $14.71 | $14.71 | $14.87 | · | $15.05 | $14.92 | $15.71 | · | $15.17 | $15.06 | $15.04 | · | $15.23 | |
| Revenue / Share | $0.59 | $0.61 | · | $0.64 | $0.67 | $0.61 | · | $0.72 | $0.66 | $0.71 | · | $0.74 | $0.75 | $0.83 | · | $0.73 | |
| Cash Flow / Share | · | $0.15 | · | · | · | $0.36 | · | · | · | $0.37 | · | · | · | $0.09 | · | · | |
| Cash / Share | $0.63 | $1.32 | · | $1.37 | $1.69 | $0.47 | · | $0.34 | $0.36 | $0.38 | · | $0.48 | $0.99 | $0.26 | · | $0.53 | |
| Dividend / Share | $0.47 | $0.47 | $0.47 | $0.47 | $0.47 | $0.47 | $0.65 | $0.47 | $0.47 | $0.47 | $0.76 | $0.47 | $0.47 | $0.47 | $0.76 | $0.47 | |
| EPS (TTM) | $1.37 | $1.44 | · | $1.69 | $1.83 | $1.88 | · | $1.99 | $1.97 | $1.98 | · | $2.02 | $2.03 | $1.98 | · | · |
Valuation (TTM)
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Income TTM | $29M | $31M | · | $36M | $38M | $38M | · | $39M | $37M | $37M | · | $37M | $36M | $35M | · | · | |
| Market Cap | $228M | $239M | · | $270M | $294M | $307M | · | $305M | $301M | $287M | · | $268M | $275M | $244M | · | $256M | |
| Enterprise Value | · | · | · | · | · | · | · | · | · | · | · | · | $573M | $553M | · | $577M | |
| P/E | 7.8 | 7.9 | · | 7.6 | 7.6 | 7.8 | · | 7.8 | 7.8 | 8.0 | · | 7.3 | 7.5 | 6.8 | · | · | |
| P/B | 0.8 | 0.8 | · | 0.9 | 0.9 | 1.0 | · | 1.0 | 1.0 | 1.0 | · | 1.0 | 1.0 | 0.9 | · | 0.9 | |
| P / Tangible Book | 0.8 | 0.8 | · | 0.9 | 0.9 | 1.0 | · | 1.0 | 1.0 | 1.0 | · | 1.0 | 1.0 | 0.9 | · | 0.9 | |
| P / Cash Flow | · | 75.4 | · | · | · | 40.3 | · | · | · | 41.5 | · | · | · | 143.6 | · | · | |
| Dividend Yield | 17.8% | 16.8% | · | 16.0% | 14.5% | 13.5% | · | 13.4% | 13.4% | 13.8% | · | 14.5% | 14.0% | 15.2% | · | · | |
| Earnings Yield | 12.8% | 12.7% | · | 13.2% | 13.1% | 12.8% | · | 12.8% | 12.8% | 12.6% | · | 13.7% | 13.4% | 14.7% | · | · | |
| Payout Ratio | · | 204.7% | · | · | · | 135.5% | · | · | · | 158.8% | · | · | · | 126.1% | · | · | |
| Annual Payout | $41M | $40M | · | $43M | $43M | $41M | · | $41M | $40M | $40M | · | $39M | $39M | $37M | · | · |
Most recent period on the left · null values shown as ·
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Revenue | · | · | · | $49M | · |
| Net Income | $36M | $37M | $39M | $32M | · |
| Diluted EPS | $1.68 | $1.88 | $2.11 | $1.82 | · |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Debt / Equity | · | · | · | 1.3 | 0.8 |
No data for this statement
Not enough fundamentals data to build this statement yet.
Institutional owners (13F) 109 filers · $85.2M total · As of Sept. 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Holders
109
Value held
$85.2M
New positions
14
Exited positions
12
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 14 (-9 vs prior Q) | 12 (-5 vs prior Q) | 47 (+20 vs prior Q) | 22 (-10 vs prior Q) | +605K |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| BlackRock, Inc. | $18,428,205 | 1,719,049 | 21.62% | Shares |
| VANGUARD GROUP INC | $11,554,106 | 942,423 | 13.56% | Shares |
| Fielder Capital Group LLC | $10,530,077 | 982,283 | 12.36% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $8,450,083 | 788,254 | 9.92% | Shares |
| STATE STREET CORP | $5,579,499 | 499,188 | 6.55% | Shares |
| SEGALL BRYANT & HAMILL, LLC | $2,022,017 | 188,621 | 2.37% | Shares |
| CDC Financial, Inc. | $1,754,907 | 163,704 | 2.06% | Shares |
| Clayton Partners LLC | $1,665,288 | 155,344 | 1.95% | Shares |
| Corient Private Wealth LP | $1,637,166 | 152,719 | 1.92% | Shares |
| NORTHERN TRUST CORP | $1,575,390 | 146,958 | 1.85% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $1,348,276 | 125,772 | 1.58% | Shares |
| DOLIVER ADVISORS, LP | $1,290,396 | 128,782 | 1.51% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $1,242,319 | 115,888 | 1.46% | Shares |
| Connor, Clark & Lunn Investment Management Ltd. | $1,220,043 | 113,810 | 1.43% | Shares |
| OSAIC HOLDINGS, INC. | $978,370 | 91,265 | 1.15% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $953,812 | 88,975 | 1.12% | Shares |
| INTREPID CAPITAL MANAGEMENT INC | $792,444 | 73,922 | 0.93% | Shares |
| MORGAN STANLEY | $681,742 | 63,595 | 0.80% | Shares |
| Odyssean, LLC | $678,490 | 63,292 | 0.80% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $662,110 | 61,764 | 0.78% | Shares |
| COMMONWEALTH EQUITY SERVICES, LLC | $621,490 | 57,975 | 0.73% | Shares |
| Quantinno Capital Management LP | $598,468 | 55,827 | 0.70% | Shares |
| Bank of New York Mellon Corp | $571,460 | 53,308 | 0.67% | Shares |
| RAYMOND JAMES FINANCIAL INC | $521,239 | 48,623 | 0.61% | Shares |
| AQR CAPITAL MANAGEMENT LLC | $516,581 | 48,189 | 0.61% | Shares |
| Atom Investors LP | $453,606 | 42,314 | 0.53% | Shares |
| PERRITT CAPITAL MANAGEMENT INC | $447,471 | 36,498 | 0.53% | Shares |
| Magnus Financial Group LLC | $426,850 | 39,818 | 0.50% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $413,792 | 38,600 | 0.49% | Shares |
| PBMares Wealth Management LLC | $385,746 | 30,160 | 0.45% | Shares |
| Sage Mountain Advisors LLC | $367,524 | 34,284 | 0.43% | Shares |
| Invesco Ltd. | $358,187 | 33,413 | 0.42% | Shares |
| United Advisor Group, LLC | $354,296 | 33,050 | 0.42% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $303,709 | 28,235 | 0.36% | Shares |
| Nuveen, LLC | $289,880 | 27,041 | 0.34% | Shares |
| ALLIANCEBERNSTEIN L.P. | $276,321 | 24,410 | 0.32% | Shares |
| RHUMBLINE ADVISERS | $263,298 | 24,562 | 0.31% | Shares |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $247,621 | 23,099 | 0.29% | Shares |
| MML INVESTORS SERVICES, LLC | $241,510 | 22,529 | 0.28% | Shares |
| Mission Financial Group, LLC | $233,889 | 21,818 | 0.27% | Shares |
| Empowered Funds, LLC | $213,028 | 19,872 | 0.25% | Shares |
| ENVESTNET ASSET MANAGEMENT INC | $207,418 | 19,349 | 0.24% | Shares |
| Cerity Partners LLC | $204,967 | 19,120 | 0.24% | Shares |
| AlTi Global, Inc. | $201,366 | 17,995 | 0.24% | Shares |
| DEUTSCHE BANK AG\ | $197,516 | 18,425 | 0.23% | Shares |
| EVERETT HARRIS & CO /CA/ | $197,248 | 18,400 | 0.23% | Shares |
| Virtus Investment Advisers, LLC | $192,199 | 17,929 | 0.23% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $186,957 | 17,440 | 0.22% | Shares |
| FMR LLC | $175,265 | 16,349 | 0.21% | Shares |
| WELLS FARGO & COMPANY/MN | $169,633 | 15,824 | 0.20% | Shares |
Company insiders 15 insiders · 8 officers · 9 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Peter Sack | Co-Chief Executive Officer | Aug. 19, 2026 P | 123,356 | 4 | 0 | $153,524 |
| Anthony Cappell | Co-Chief Executive Officer | Aug. 17, 2026 P | 466,706 | 1 | 0 | $468,000 |
| Phillip Silverman | Chief Financial Officer | April 20, 2026 A | 71,516 | 0 | 0 | $0 |
| Lindsay Menze | Chief Financial Officer | Dec. 10, 2021 A | 9,675 | 0 | 0 | $0 |
| David Kite | President and COO | April 20, 2026 A | 96,615 | 2 | 0 | $62,525 |
| Andreas Bodmeier | President and CIO | April 1, 2025 A | 391,534 | 0 | 0 | $0 |
| Donald E. Gulbrandsen | Co-President and CIO | April 1, 2024 A | 851,445 | 0 | 0 | $0 |
| John Mazarakis | Executive Chairman | Aug. 27, 2026 P | 526,562 | 5 | 0 | $868,873 |
| Elizabeth Mary Stavola | Director | April 20, 2026 A | 6,324 | 0 | 0 | $0 |
| Brandon Konigsberg | Director | April 20, 2026 A | 33,870 | 1 | 0 | $86,310 |
| Jason D Papastavrou | Director | April 20, 2026 A | 55,870 | 3 | 0 | $227,790 |
| Michael L. Steiner | Director | April 1, 2025 A | 274,109 | 0 | 0 | $0 |
| Frederick C Herbst | Director | April 1, 2024 A | 19,475 | 0 | 0 | $0 |
| Chicago Atlantic CRE Holdings, LLC | 10% owner | June 3, 2022 J | 0 | 0 | 0 | $0 |
| Chicago Atlantic Fund QP, LLC | 10% owner | June 3, 2022 J | 0 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 16 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| VRAI · ETFis Series Trust I | 0.95% | 18,127 NS | July 31, 2026 | N-PORT |
| ROSC · Lattice Strategies Trust | 0.13% | 8,039 NS | July 31, 2026 | N-PORT |
| IWC · iShares Trust | 0.05% | 65,748 SH | Sept. 11, 2026 | Daily |
| EBIT · Harbor ETF Trust | 0.03% | 345 NS | July 31, 2026 | N-PORT |
| OMFS · Invesco Exchange-Traded Self-Indexe… | 0.02% | 5,504 | Oct. 2, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.01% | 108,217 SH | Aug. 19, 2026 | Daily |
| VTWV · VANGUARD SCOTTSDALE FUNDS | 0.01% | 16,125 SH | Aug. 19, 2026 | Daily |
| IWM · iShares Trust | 0.01% | 538,269 SH | Sept. 11, 2026 | Daily |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.01% | 17,646 | Oct. 2, 2026 | Daily |
| RSSL · Global X Funds | 0.01% | 9,029 NS | July 31, 2026 | N-PORT |
| IWV · iShares Trust | 0.00% | 7,671 SH | Sept. 3, 2026 | Daily |
| VXF · VANGUARD INDEX FUNDS | 0.00% | 199,009 SH | Aug. 19, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 570,761 SH | Aug. 19, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 1,430 SH | Aug. 19, 2026 | Daily |
| IWN · iShares Trust | · | 199,728 SH | Sept. 11, 2026 | Daily |
| REM · iShares Trust | · | 234,794 SH | Sept. 11, 2026 | Daily |
REFI Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
rating · 11 analysts
BUY
Median target
$15.00
+49.1%
2 18.2%
Strong Buy
6 54.5%
Buy
3 27.3%
Hold
0 0.0%
Sell
0 0.0%
Strong Sell
12-Month Price Target
4 analysts · 2026-09-29Mean target $15.12 +50.3%
← Below all targets
Current price $10.06
Low$10.50
Mean$15.12
High$20.00
Peer comparison (GICS sub-industry) Key metrics vs sector peers
FY basis, prices as of each company's last fiscal year-end close.
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| REFI | $258M | 7.3 | · | 65.0% | 11.7% | · |
| BRSP | · | -21.5 | -7.9% | -9.4% | -3.1% | · |
| TRTX | $674M | 15.1 | -4.6% | 41.3% | 5.6% | · |
| RWT | · | · | · | · | · | · |
| KREF | $529M | -7.8 | -25.8% | -41.8% | -3.7% | · |
| NREF | $262M | 4.9 | 67.7% | 261.0% | 33.5% | · |
| ACRE | $263M | 4.4 | -21.3% | -1.6% | -0.17% | · |
| RC | $355M | -1.5 | 3.0% | -217.3% | -13.1% | · |
| MITT | · | · | · | · | · | · |
| CMTG | $429M | -0.9 | -24.4% | -260.4% | -29.7% | · |
| AOMR | · | · | · | · | · | · |
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Source: SEC 10-Q filed Aug 11, 2026