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Chicago Atlantic Real Estate Finance, Inc. Stock: price and insider trades · United States
3 insiders bought €1.1M of shares over the last 90 days, the latest filed 28 Aug 2026.
Chicago Atlantic Real Estate Finance, Inc.: what insiders have been doing
Chicago Atlantic Real Estate Finance, Inc. belongs to the Real Estate sector. Filings by its managers are published through SEC (Form 4). From 18 October 2025 to 18 October 2026, the disclosure feed for Chicago Atlantic Real Estate Finance, Inc. logged 16 filings by 8 insiders.
Every open-market trade in the period is a purchase: 8 purchases worth €1.1M, from 3 insiders, and not a single sale. A purchase on the market is a deliberate choice to commit personal money, which is why it draws more attention than a grant. At €404k, the purchase published on 19 August 2026 by Cappell Anthony is the largest of the period (0.17% of market cap). Among those who bought: 3 chief executives.
In the case of 8 purchases, another manager of the company was buying within the same 30 days. A cluster is several different insiders buying the same stock within a short window, a pattern studied more closely than a single purchase. The last purchase on record was published on 28 August 2026, which is 51 days ago. Typically, a trade is published a median of 2 days after it takes place. Section 16 rules allow two business days to file each Form 4.
Across the 5,458 companies tracked on its exchange, the median is 22 filings; at 16 filings, this issuer sits below that mark. Looking back to 2021, when coverage begins, insiders filed 30 purchases and 1 sale.
Elsewhere in the same sector, our signals recently picked up insider purchases at Simon Property Group Inc /DE/ and Angel Oak Mortgage REIT, Inc. Every figure here comes from the filings published by SEC (Form 4) and describes the past, not future prices; it is not investment advice.
Insider Decl.
80
Thresholds
n/a
Buy Volume
€22M
30 ops. · all time
Sell Volume
€41,059
1 ops. · all time
Who traded when
BuySaleJohn Mazarakis6 buys1 sale
Peter Sack4 buys
Anthony Cappell1 buy
Brandon Konigsberg1 buy
David Kite1 buy
Jason D. Papastavrou1 buy
+1 other insider
Since the insiders bought
- -13.8%Entry US$10.88 · Close 16 Oct 2026 US$9.38
- -19.6%Entry US$49.33 · Close at T+30 US$39.66
- -17.1%Entry US$47.85 · Close at T+30 US$39.66
Entry is the close on the day after publication, the first price a reader could act on. Prices in the listing currency. Past moves are not a forecast.
This score ranks the purchase within its own market. A position size is suggested only on the venues of the backtested strategy universe; elsewhere, signals stay on watch. Not investment advice.
Fundamental score
Ranked 396 of 24,148 companies
84.8
score / 100
Value90
Quality80
FCF yld12%
Earn yld15%
EV/EBITDA·
ROE9.6%
Gross mgn·
Net mgn65%
Debt/EBITDA·
Pillars2/3
Transparent value + quality ranking, distinct from the insider signal.
Financial data
as of FY 2025FY ended December 2025 · cache
US$9.31
Analyst consensus
4 analystsUS$10.50Target US$15.13(+62%)US$20.00
Income statement
RevenueUS$55.6M
Net incomeUS$36M60.2% margin
Valuation
PER (trailing)6.8x
P/Book0.7x
Beta0.34
Balance sheet & cash
Market capUS$238.5M
Total debtUS$98.4M
Free Cash FlowUS$28.8M
Debt / Equity47%
Profitability & ownership
ROE9.6%
ROA6.4%
% insiders11.5%
% institutions31.8%
Last declaration on 28 August 2026
Declarations80 total
40,181 shares@ US$10.66660.15% mcap7.0% of flowCommon StockSEC:0001193125-26-374170:0
Canonical exit: 24 Nov 2026 (T+90)
7,530 shares@ US$10.670.029% mcap1.3% of flowCommon StockSEC:0001193125-26-374170:1
Canonical exit: 25 Nov 2026 (T+90)
145 shares@ US$10.670.0006% mcap0.0% of flowCommon StockSEC:0001193125-26-365324:0
Canonical exit: 19 Nov 2026 (T+90)
1,500 shares@ US$10.430.0056% mcap1.9% of flowCommon StockSEC:0001193125-26-360717:0
Canonical exit: 16 Nov 2026 (T+90)
1,500 shares@ US$10.530.0057% mcap1.9% of flowCommon StockSEC:0001193125-26-360717:1
Canonical exit: 17 Nov 2026 (T+90)
2,000 shares@ US$10.390.0075% mcap2.5% of flowCommon StockSEC:0001193125-26-360717:2
Canonical exit: 17 Nov 2026 (T+90)
45,000 shares@ US$10.4050.17% mcap8.9% of flowCommon stockSEC:0001213900-26-091787:0
Canonical exit: 15 Nov 2026 (T+90)
25,000 shares@ US$10.2530.093% mcap4.2% of flowCommon StockSEC:0001213900-26-091788:0
Canonical exit: 15 Nov 2026 (T+90)
6,324 shares0Common StockSEC:0001213900-26-046827:0
37,099 shares0Common StockSEC:0001213900-26-046833:0
6,324 shares0Common StockSEC:0001213900-26-046834:0
37,099 shares0Common StockSEC:0001213900-26-046829:0
37,099 shares0Common StockSEC:0001213900-26-046826:0
37,099 shares0Common StockSEC:0001213900-26-046830:0
6,324 shares0Common StockSEC:0001213900-26-046831:0
32,462 shares0Common StockSEC:0001213900-26-046832:0
8,150 shares@ US$12.4312.2% of flowCommon StockSEC:0001193125-25-241567:0
Canonical exit: 12 Jan 2026 (T+90)
10,000 shares@ US$12.61537.7% of flowCommon StockSEC:0001193125-25-241640:0
Canonical exit: 13 Jan 2026 (T+90)
2,500 shares@ US$12.3177.9% of flowCommon StockSEC:0001193125-25-241575:0
Canonical exit: 12 Jan 2026 (T+90)
7,000 shares@ US$12.32846.9% of flowCommon StockSEC:0001193125-25-241569:0
Canonical exit: 12 Jan 2026 (T+90)
8,000 shares@ US$12.751.7% of flowCommon StockSEC:0001193125-25-241563:0
Canonical exit: 14 Jan 2026 (T+90)
7,500 shares@ US$12.431.5% of flowCommon StockSEC:0001193125-25-227618:0
Canonical exit: 30 Dec 2025 (T+90)
769 shares@ US$13.005.5% of flowCommon StockSEC:0001213900-25-030641:0
Canonical exit: 8 Jul 2025 (T+90)
28,398 shares0Common StockSEC:0001213900-25-028740:0
8,993 shares0Common StockSEC:0001213900-25-028734:0
25 of 80 declarations
About Chicago Atlantic Real Estate Finance, Inc.
Chicago Atlantic Real Estate Finance, Inc. (NASDAQ: REFI) is a U.S.-listed commercial real estate finance company based in the United States. It is best understood as a specialty commercial mortgage REIT rather than a traditional property owner. The company manages a diversified portfolio of real estate credit investments, with a core focus on the cannabis space and related parts of the value chain. For investors, REFI offers exposure to specialty credit rather than direct equity real estate, with returns driven by interest income, structured lending economics, and disciplined underwriting. ([investors.refi.reit](https://investors.refi.reit/))
Chicago Atlantic Real Estate Finance was organized in Maryland on March 30, 2021 and completed its initial public offering in December 2021. Since then, the company has built its platform around originating, structuring, and investing in first mortgage loans and alternative structured financings secured by commercial real estate properties. Its stated objective is to deliver attractive risk-adjusted returns, primarily through current income distributions and secondarily through capital appreciation. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1867949/000121390026046865/ea028737501-ars_chicago.pdf))
Read moreShow less
The company’s competitive positioning is anchored in specialization. Management highlights a credit-first underwriting approach, the ability to structure bespoke financing solutions, and deep experience in the cannabis lending market. That niche is strategically important because U.S. federal restrictions continue to limit conventional bank participation, creating a more constrained competitive environment for lenders with the willingness and expertise to operate in the space. This can support attractive spreads, but it also leaves the company exposed to regulatory, industry, and concentration risk. ([investors.refi.reit](https://investors.refi.reit/))
REFI’s operating footprint is primarily nationwide across the United States, with financing secured by income-producing commercial properties. The company’s corporate headquarters is listed in Miami Beach, Florida, while its investor communications and shareholder meeting materials also reference Chicago, Illinois, reflecting the firm’s Chicago Atlantic heritage and operating identity. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1867949/000121390026046865/ea028737501-ars_chicago.pdf))
Recent developments remain consistent with a yield-focused, credit-disciplined platform. Chicago Atlantic reported first-quarter 2026 financial results on May 7, 2026, and earlier declared a common stock dividend of $0.47 for the first quarter of 2026 on March 16, 2026. In April 2026, the company also announced a net asset value-backed financing transaction, suggesting it continues to broaden its origination capabilities beyond a single end market. Overall, the latest disclosures reinforce a strategy centered on income generation, capital efficiency, and active deployment into specialized lending opportunities. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1867949/000121390026053036/ea028939301ex99-1.htm))
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