Chicago Atlantic Real Estate Finance Announces Third Quarter 2026 Financial Results
Key Highlights
- ➤Q3 distributable earnings $0.49 per diluted share, versus $0.43 in Q2
- ➤Total loan principal outstanding reached $527.7 million, up from $453.1 million
- ➤Koach transaction exchanged 4.3 million shares for approximately $62.6 million of notes
- ➤REFI-LIEN merger expected in 2027; former REFI holders estimated 50.5% ownership
- ➤2026 dividend payout ratio expected at approximately 90% to 100% of distributable earnings
Expert Statements
Peter Sack, Co-Chief Executive Officer of Chicago Atlantic Real Estate Finance
“Chicago Atlantic delivered distributable earnings of $0.49 per diluted weighted average share for the third quarter of 2026, despite a challenging macroeconomic environment and heightened uncertainty across both the regulatory landscape and the mortgage REIT sector. While our real estate secured cannabis pipeline has decreased from approximately $204 million to $174 million since last quarter end, we believe our credit fundamentals compare favorably to our peers; and that our specialized market knowledge, established relationships and deep understanding of risk allow us to structure investments with a level of insight that broader-based lenders often do not have the means to replicate. We believe the deliberate, strategic decisions we have made, such as the Koach transaction in the third quarter, position the Company for long-term success. We remain confident in our ability to navigate an evolving landscape while staying disciplined in our underwriting and true to the strategy that has driven our performance to date.”
CHICAGO, Nov. 10, 2026 (GLOBE NEWSWIRE) -- Chicago Atlantic Real Estate Finance, Inc. (NASDAQ: REFI, “Chicago Atlantic”, "REFI" or the “Company”), a commercial mortgage real estate investment trust, today announced its financial results for the third quarter ended September 30, 2026.
Peter Sack, Co-Chief Executive Officer, noted, “Chicago Atlantic delivered distributable earnings of $0.49 per diluted weighted average share for the third quarter of 2026, despite a challenging macroeconomic environment and heightened uncertainty across both the regulatory landscape and the mortgage REIT sector. While our real estate secured cannabis pipeline has decreased from approximately $204 million to $174 million since last quarter end, we believe our credit fundamentals compare favorably to our peers; and that our specialized market knowledge, established relationships and deep understanding of risk allow us to structure investments with a level of insight that broader-based lenders often do not have the means to replicate. We believe the deliberate, strategic decisions we have made, such as the Koach transaction in the third quarter, position the Company for long-term success. We remain confident in our ability to navigate an evolving landscape while staying disciplined in our underwriting and true to the strategy that has driven our performance to date.”
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