secwatch.observer — SEC 8-K summary
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Issuer:     Chicago Atlantic Real Estate Finance, Inc. (REFI)
CIK:        0001867949
Form:       8-K
Filed at:   2026-05-07T23:59:59+00:00
Accession:  0001213900-26-053036
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Chicago Atlantic Q1 net income $4.8M ($0.23/share) vs $10M a year ago; provision spikes
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- Net interest income $13.1M flat YoY; net income fell 52% to $4.8M ($0.23 diluted EPS).
- Provision for credit losses $3.8M (vs $1.1M benefit last year); book value per share $14.39 from $14.60.
- Distributable earnings $0.47 basic, $0.46 diluted; regular quarterly dividend maintained at $0.47/share.
- Loan portfolio $413.6M; weighted average yield 15.8%; debt/equity ratio rose to 38.4%.
- FY2026 outlook: dividend payout 90-100% of distributable earnings; special dividend possible in Q4.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1867949/000121390026053036/0001213900-26-053036-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1867949/000121390026053036/ea0289393-8k_chicago.htm
  HTML page:      https://secwatch.observer/filing/0001213900-26-053036

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer