Chicago Atlantic Posts Q4 Net Interest Income of $14.24M, Expands $616M Pipeline
Chicago Atlantic reported fourth-quarter net interest income of $14.24M ($0.66/share); distributable earnings of $9.25M ($0.44/share) and net income of $8.16M ($0.38/share). It ended 2025 with $411.1M in loans outstanding, $31.1M of unfunded commitments, a $616M investment pipeline, 32.0% debt/equity and $50.0M in net liquidity.
1. Fourth Quarter Financial Results
Chicago Atlantic generated net interest income of $14.24 million ($0.66 per share) in the fourth quarter of 2025, up from $13.69 million in the prior quarter. Distributable earnings totaled $9.25 million ($0.44 per share) and net income reached $8.16 million ($0.38 per share), supported by a $0.10 million CECL benefit.
2. Portfolio Growth and Liquidity
The REIT’s loan portfolio grew to $411.1 million at year end, with unfunded commitments of $31.1 million across 26 borrowers. As of March 12, 2026, it had $52.9 million available under its secured credit facility, approximately $50.0 million in net liquidity and advanced $51.1 million in new loans while receiving $40.4 million in repayments.
3. 2026 Outlook
Entering 2026, Chicago Atlantic’s new investment pipeline expanded to $616 million. The company intends to maintain a dividend payout ratio of 90%–100% of distributable earnings and may issue a special dividend in the fourth quarter if needed to satisfy taxable income distribution requirements.