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hicago Atlantic Real Estate Finance, Inc. (REFI) has released its Q4 earnings report, highlighting key financial metrics and strategic initiatives.

    As a commercial mortgage real estate investment trust specializing in senior secured loans to state-licensed cannabis operators, Chicago Atlantic demonstrated discipline in its underwriting process and maintained a strong liquidity position. In the fourth quarter of 2024, net interest income decreased slightly to $14.1 million, while total loan principal outstanding reached $410.2 million with a weighted average yield to maturity of 17.2%.

    The company also secured a $50 million unsecured term loan to enhance its capital structure. For the full year 2024, Chicago Atlantic achieved net income of $37 million and distributable earnings of approximately $40 million. Despite a decrease in net income compared to the previous year, the company maintained a strong dividend payout, distributing $2.06 per common share.

    Looking ahead to 2025, Chicago Atlantic aims to maintain a dividend payout ratio of 90% to 100% based on distributable earnings and leverage its expertise in the cannabis sector to drive growth and profitability.