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Insider Cluster (3 insiders) ·Filed Aug 25, 2026

REFI

Chicago Atlantic Real Estate Finance, Inc.
BULLISH
Impact 6/10
Horizonweeks Processed2mo ago
Insider cluster: 3 insiders, $0.5M total
Actionable Insight ▲ Bullish

Three insiders at Chicago Atlantic Real Estate Finance, including both Co-CEOs and the Executive Chairman, made open-market purchases totaling $486K over a one-week period. The largest buy was Co-CEO Anthony Cappell's $468K purchase at $10.40, representing a material insider vote of confidence in the REIT's credit portfolio and dividend coverage.

DirectionBullish
Confidencemedium
Horizonweeks
Latest settled: T+20d
REFI ▼ -0.66% at T+20d
LONG call ✗ call lost -0.66% · α vs SPY -0.80% · entry $10.68 → $10.61
Next anchor: T+60d in 21d
Latest observation: T+43 -4.20% FF3 residual α
Entry = T+0 close
Aug 25, 2026
via day close
T+1d
-0.09%
call -0.09% · α -0.75%
$10.67
settled 2mo ago
T+5d
+1.87%
call +1.87% · α +1.99%
$10.88
settled 8w ago
T+20d
-0.66%
call -0.66% · α -0.80%
$10.61
settled 5w ago
T+60d
Pending
in 21d

Price Chart

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Executive Summary

Three insiders at Chicago Atlantic Real Estate Finance, including both Co-CEOs and the Executive Chairman, made open-market purchases totaling $486K over a one-week period. The largest buy was Co-CEO Anthony Cappell's $468K purchase at $10.40, representing a material insider vote of confidence in the REIT's credit portfolio and dividend coverage.

Key Financial Metrics

Direction
buying
Total Value
$486.0K
Insiders
3

Key Facts

  • Three insiders purchased shares in an open-market cluster totaling $486K
  • Co-CEO Anthony Cappell made the largest purchase at $468K (45,000 shares at $10.40)
  • Co-CEO Peter Sack bought $16K (1,500 shares at $10.53)
  • Executive Chairman John Mazarakis bought $2K (145 shares at $10.67)
  • Total insider buying over the last 30 days now stands at $1.26M (including this cluster)
  • The cluster represents approximately 0.18% of REFI's $276M market cap
  • All purchases were open-market (code P) — not option exercises or grants

Financial Impact

Insider cluster of $486K in open-market purchases, representing 0.18% of market cap, with $468K from the Co-CEO alone

insider ownershipmarket confidence

Risk Factors

  • The cluster is modest relative to market cap (0.18%) — not a transformative signal
  • REIT sector headwinds from interest rate sensitivity could offset insider buying conviction

Market Snapshot

Exchange
Nasdaq
Sector
Real Estate Investment Trusts
Analyst Consensus
73% bullish (11 analysts)

Investment Themes

Real Estate

Documents Analyzed

This report is based on 1 SEC document filed with EDGAR.

DocumentAccession Number
CLUSTER Data (Synthetic)cluster-REFI-1787728584843
20 reports for REFI
Performance horizon
33% Hit rate @ T+5 3 of 9 directional calls Went positive at some point 4 of 9 best @ T+20▲ +3.49%Aug 19, 2026
Filters
Rows
Reports for REFI, sortable and filterable
TypeNow
Sep 16, 2026
5w ago
Press Release
NEUTRAL ★ 2/10
$11.01 $10.69▼ −2.91%▼ −4.73%$9.20 (−16.44%)
Aug 28, 2026
8w ago
Insider Buy
BULLISH ★ 5/10
$10.68 $10.95▲ +2.53%▲ +2.42%$9.20 (−13.86%)
Aug 28, 2026
8w ago
Insider Cluster
BULLISH ★ 5/10
$10.68 $10.95▲ +2.53%▲ +2.42%$9.20 (−13.86%)
Aug 25, 2026
9w ago
Insider Cluster
BULLISH ★ 6/10
$10.68 $10.88▲ +1.87%▲ +1.99%$9.20 (−13.86%)
Aug 21, 2026
9w ago
Insider Cluster
BULLISH ★ 6/10
$10.78 $10.68▼ −0.93%▼ −1.40%$9.20 (−14.66%)
Aug 19, 2026
9w ago
Insider Cluster
BULLISH ★ 5/10
$10.61 $10.67▲ +0.57%▼ −0.55%$9.20 (−13.29%)
Aug 11, 2026
11w ago
DEFA14A
BEARISH ★ 6/10
$10.24 $10.37▼ −1.32%▼ −1.72%$9.20 (+10.11%)
Aug 11, 2026
11w ago
425
BEARISH ★ 6/10
$10.24 $10.37▼ −1.32%▼ −1.72%$9.20 (+10.11%)
Aug 11, 2026
11w ago
8-K
BEARISH ★ 6/10
$10.24 $10.37▼ −1.32%▼ −1.72%$9.20 (+10.11%)
Jul 21, 2026
14w ago
Press Release
NEUTRAL ★ 1/10
$10.38awaiting T+5awaiting T+5$9.20 (−11.37%)
Showing 10 of 20

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Report published Aug 26, 2026