1 hour ago
1
MarketBeat
Thu, March 12, 2026 astatine 9:48 AM CDT 9 min read
-
Chicago Atlantic is focused connected senior secured lending to U.S. cannabis operators with conservative, collateral-driven underwriting and a stated pipeline of astir $616 million, arguing constricted contention successful this niche.
-
As of Dec. 31, the institution had a indebtedness portfolio of astir $411 million crossed 26 companies with a weighted mean yield-to-maturity of 16.3%, full leverage astir 32% of publication equity, and astir $50 million of disposable liquidity.
-
Distributable net were astir $0.44 per stock for Q4 (annual ~$1.92), the institution paid a $0.47 Q4 dividend and expects a dividend payout ratio of 90%–100% for 2026, portion aboriginal 2026 enactment included ~$51.1 million of caller indebtedness advances and ~$40.4 million of repayments.
-
Will This New Development Mean A Big Rally In Cannabis Stocks?
Chicago Atlantic Real Estate Finance (NASDAQ:REFI) executives emphasized their absorption connected elder secured lending to U.S. cannabis operators with what they described arsenic blimpish underwriting and collateral-driven structuring, arsenic the institution reviewed fourth-quarter 2025 results and discussed aboriginal 2026 activity. Management said the firm’s strategy is designed to run with constricted overlap to broader backstage recognition markets and to payment from constricted contention successful cannabis lending.
Co-CEO Peter Sack said Chicago Atlantic targets what helium called an “intersection of existent estate, credit, and the emerging assemblage of the U.S. cannabis industry,” aiming to operation elder secured positions with “outsized” returns comparative to broader recognition and existent property lending portfolios. Sack argued that caller pressures successful parts of backstage recognition are not straight applicable to the company, citing nary vulnerability to areas specified arsenic software, receivables factoring, oregon syndicated facilities.
→ Microsoft Positioned to Win AI Race With Dual-Model Strategy
On caller business, Sack said the company’s pipeline “remains strong” and stood astatine $616 million astatine the clip of the call. He besides pointed to a transaction completed successful the 4th quarter: a recognition installation supporting what absorption described arsenic the largest cannabis ESOP completed to date, calling it an illustration of bringing much accepted lending solutions into the cannabis market.
Management besides discussed argumentation developments. Sack said that successful December 2025, President Trump signed an enforcement bid directing his medication to reclassify cannabis from Schedule I to Schedule III. While noting this would not beryllium national legalization, Sack described rescheduling arsenic perchance meaningful for manufacture economics. However, helium said the company’s underwriting does not presume regulatory-driven recognition improvements.
.png)
English (CA) · 
English (US) · 
Spanish (MX) ·