Chicago Atlantic Real Estate Finance Inc
Chicago Atlantic Real Estate Finance, Inc. operates as a commercial mortgage real estate investment trust in the United States. The company engages in originating, structuring, and investing in first mortgage loans and alternative structured financings secured by commercial real estate properties. Its portfolio primarily includes first mortgage loans to established multi-state or single-state can… Read more
Chicago Atlantic Real Estate Finance Inc (REFI) - Net Assets
Latest net assets as of September 2025: $309.91 Million USD
Based on the latest financial reports, Chicago Atlantic Real Estate Finance Inc (REFI) has net assets worth $309.91 Million USD as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($427.08 Million) and total liabilities ($117.16 Million). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $309.91 Million |
| % of Total Assets | 72.57% |
| Annual Growth Rate | 5.37% |
| 5-Year Change | N/A |
| 10-Year Change | N/A |
| Growth Volatility | 5.87 |
Chicago Atlantic Real Estate Finance Inc - Net Assets Trend (2021–2024)
This chart illustrates how Chicago Atlantic Real Estate Finance Inc's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Chicago Atlantic Real Estate Finance Inc (2021–2024)
The table below shows the annual net assets of Chicago Atlantic Real Estate Finance Inc from 2021 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | $308.96 Million | +13.65% |
| 2023-12-31 | $271.85 Million | +2.96% |
| 2022-12-31 | $264.03 Million | -0.02% |
| 2021-12-31 | $264.08 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Chicago Atlantic Real Estate Finance Inc's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have decreased by 995940300.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | $208.29K | 0.07% |
| Other Components | $318.89 Million | 103.21% |
| Total Equity | $308.96 Million | 100.00% |
Chicago Atlantic Real Estate Finance Inc Competitors by Market Cap
The table below lists competitors of Chicago Atlantic Real Estate Finance Inc ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Haymaker Acquisition Corp. 4
NYSE:HYAC
|
$225.14 Million |
|
Hangzhou Chinastars Reflective Material Co.Ltd.
SHE:301077
|
$225.19 Million |
|
Ardent Health Partners, Inc.
NYSE:ARDT
|
$225.22 Million |
|
SIM Acquisition Corp. I Class A Ordinary Shares
NASDAQ:SIMA
|
$225.27 Million |
|
Tasmea Ltd
AU:TEA
|
$225.02 Million |
|
Haitian Water Group Co.Ltd
SHG:603759
|
$225.00 Million |
|
MARUDAI FOOD
F:MFL1
|
$224.99 Million |
|
Hutchison Telecommunications Hong Kong Holdings Limited
F:4C6
|
$224.90 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Chicago Atlantic Real Estate Finance Inc's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 271,853,391 to 308,958,097, a change of 37,104,706 (13.6%).
- Net income of 37,045,403 contributed positively to equity growth.
- Dividend payments of 41,632,000 reduced retained earnings.
- New share issuances of 39,591,879 increased equity.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $37.05 Million | +11.99% |
| Dividends Paid | $41.63 Million | -13.47% |
| Share Issuances | $39.59 Million | +12.81% |
| Other Changes | $2.10 Million | +0.68% |
| Total Change | $- | 13.65% |
Book Value vs Market Value Analysis
This analysis compares Chicago Atlantic Real Estate Finance Inc's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 0.80x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2021-12-31 | $15.13 | $12.48 | x |
| 2022-12-31 | $14.88 | $12.48 | x |
| 2023-12-31 | $14.82 | $12.48 | x |
| 2024-12-31 | $15.67 | $12.48 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Chicago Atlantic Real Estate Finance Inc utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 11.99%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 67.62%
- • Asset Turnover: 0.13x
- • Equity Multiplier: 1.41x
- Recent ROE (11.99%) is below the historical average (908.63%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2021 | 3596.07% | 85.75% | 39.81x | 1.05x | $9.47 Billion |
| 2022 | 12.23% | 66.10% | 0.14x | 1.30x | $5.89 Million |
| 2023 | 14.24% | 67.52% | 0.16x | 1.32x | $11.52 Million |
| 2024 | 11.99% | 67.62% | 0.13x | 1.41x | $6.15 Million |
Industry Comparison
This section compares Chicago Atlantic Real Estate Finance Inc's net assets metrics with peer companies in the REIT - Mortgage industry.
Industry Context
- Industry: REIT - Mortgage
- Average net assets among peers: $1,096,262,362
- Average return on equity (ROE) among peers: 8.02%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Chicago Atlantic Real Estate Finance Inc (REFI) | $309.91 Million | 3596.07% | 0.38x | $225.12 Million |
| Arbor Realty Trust (ABR) | $361.58 Million | 13.94% | 5.10x | $1.46 Billion |
| Acres Commercial Realty Corp (ACR) | $228.83 Million | 2.77% | 6.85x | $126.82 Million |
| Ares Commercial Real Estate (ACRE) | $456.49 Million | 7.51% | 2.02x | $265.18 Million |
| AFC Gamma Inc (AFCG) | $91.65 Million | 11.30% | 0.03x | $40.49 Million |
| AGNC Investment Corp (AGNCL) | $546.82 Million | 21.69% | 7.46x | $27.70 Billion |
| AGNC Investment Corp. 8.75% Series H Fixed-Rate Cumulative Redeemable Preferred Stock (AGNCZ) | $6.21 Billion | 12.40% | 8.33x | $245.43K |
| Great Ajax Corp (AJX) | $282.72 Million | 9.85% | 2.39x | $347.80K |
| Angel Oak Mortgage Inc (AOMR) | $44.05 Million | -14.07% | 8.78x | $127.29 Million |
| Apollo Commercial Real Estate Finance Inc (ARI) | $2.63 Billion | 8.75% | 1.62x | $1.36 Billion |
| ARMOUR Residential REIT Inc (ARR) | $108.71 Million | 6.01% | 10.12x | $2.04 Billion |