Chicago Atlantic Q4 2022 net income $7.3M ($0.41/sh); yield to maturity 19.7%, floating rate 83%

Chicago Atlantic Real Estate Finance, Inc.

Q4 net interest income $14.8M (+14.1% seq); net income $7.3M ($0.41/sh), down 25.7% seq.
Weighted avg yield to maturity 19.7% (up from 18.3% prior qtr); floating rate loans now 83% of portfolio.
On Feb 15, raised ~$6M via direct offering of 395,779 shares at $15.16; on Feb 27, extended $92.5M credit facility to Dec 2024.
Q4 regular dividend $0.47/sh plus special $0.29/sh paid Jan 13; full-year dividends $2.10/sh.
2023 outlook: maintains 90-100% payout ratio; regular quarterly dividend minimum $0.47/sh.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

Chicago Atlantic Real Estate Finance, Inc. reported the fourth quarter and year ended December 31, 2022 results: revenue Net interest income of approximately $14.8 million, net income Net Income of approximately $7.3 million, or $0.41 per weighted average diluted common share, EPS $0.41 per weighted average diluted common share.

Period: the fourth quarter and year ended December 31, 2022
Revenue: Net interest income of approximately $14.8 million
Net income: Net Income of approximately $7.3 million, or $0.41 per weighted average diluted common share
EPS: $0.41 per weighted average diluted common share
Result: reported results

Exact text from the filing

included in the fiscal 2022 taxable income, to common stockholders of record on December 30, 2022. Fourth Quarter 2022 Financial Results ● Net interest income of approximately $14.8 million, representing a sequential increase of 14.1%; primarily due to the increase in the prime rate from 6.25% to 7.50%, improved yield terms on facilities amended and/or restructured

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Chicago Atlantic Real Estate Finance, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-23-018679

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