11 Best Cannabis Stocks To Invest In

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9. Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI)

Number of Hedge Fund Holders: 6

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) is a company that provides loans and financing for commercial real estate. They focus on state-licensed cannabis operators in limited-license states, offering secured loans and other financial help to support their businesses.

The firm has chosen to be taxed as a commercial mortgage real estate investment trust (REIT), so it isn’t required to pay corporate taxes. This allows it to distribute 90% of its taxable income to stockholders, making it a great option for investors looking for a regular income.

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) had a strong Q3 2024, reporting revenue of $14.16 million, a 4.6% YoY increase. Net income also grew by 19% YoY to reach $11.2 million. As a result, the company paid a regular quarterly cash dividend of $0.47 per share of common stock for Q3 2024 on October 15, 2024.

Also in October, Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) secured a $50 million unsecured term loan with a fixed interest rate of 9% and received an investment-grade BBB+ rating from Egan-Jones, giving it liquidity of over $75 million to fund new investments.

Shares of Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) were held by 6 hedge funds in the IM database at the end of Q3 2024, with a total stake value of $7.1 million, up by over 53% from the previous quarter.

Chicago Atlantic Real Estate Finance, Inc. (NASDAQ:REFI) was also included in our list of the Most Undervalued Pot Stocks to Buy According to Analysts.

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