Chicago Atlantic Q4 net income $0.51 EPS, down 5.8% seq; FY distributable earnings up 7.6%; promotes Co-CEO and CFO

Chicago Atlantic Real Estate Finance, Inc.

Q4 net income $9.4M ($0.51 diluted EPS); sequential decrease of 5.8% due to higher management fees.
FY2023 net interest income $57.1M (+17% YoY); distributable earnings $41.5M ($2.26/share), up 7.6% YoY.
Total 2023 dividends $2.17/share (regular $1.88 + special $0.29), up 3.3% YoY; 2024 payout ratio 90-100%.
Credit facility amended: maturity extended to June 2026, accordion up to $150M. Net liquidity ~$10M as of Mar 11.
Peter Sack promoted to Co-CEO, Phil Silverman to CFO effective March 7, 2024.

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 year ended December 31, 2023 results: net income Net Income of approximately $38.7 million, EPS $2.11 per weighted average diluted common share.

Period: year ended December 31, 2023
Net income: Net Income of approximately $38.7 million
EPS: $2.11 per weighted average diluted common share
Result: reported results

Exact text from the filing

Net Income of approximately $38.7 million, or $2.11 per weighted average diluted common share.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

Chicago Atlantic Real Estate Finance, Inc. reported fourth quarter ended December 31, 2023 results: net income Net income of approximately $9.4 million, EPS $0.51 per weighted average diluted share.

Period: fourth quarter ended December 31, 2023
Net income: Net income of approximately $9.4 million
EPS: $0.51 per weighted average diluted share
Result: reported results

Exact text from the filing

Net income of approximately $9.4 million, or $0.51 per weighted average diluted share, representing a sequential decrease of 5.8%, primarily due to the aforementioned increase in net management and incentive fees.

View on SEC.gov

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Chicago Atlantic Real Estate Finance, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-24-021571

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