Cannabis-focused commercial real estate finance company Chicago Atlantic Real Estate Finance, Inc. (NASDAQ: REFI) announced its third-quarter earnings results on Wednesday for the three months ended September 30, 2023.
Q3 2023 Financial Highlights
- Net interest income totaled $13.7 million, up from $12.9 million in the prior year’s period.
- Total expenses amounted to $3.8 million, up from $3.16 million in the third quarter of 2023.
- Net income was $9.97 million, slightly up from $9.77 million in the corresponding quarter of last year.
- As of Sept. 30, 2023, the company had $352.3 million in total assets, up from $343.3 million as of Dec. 31, 2022.
- Total liabilities were $76.5 million as of Sept. 30, 2023, down from $79.2 million as of Dec. 31, 2022.
Portfolio Performance And Investment Activity In Q3
- As of Sept. 30, 2023, total loan commitments of approximately $355.9 million across 27 portfolio investments.
- Weighted average yield to maturity was approximately 19.3% as of Sept. 30, 2023, compared with approximately 19.2% as of June 30, 2023.
- The company had …