Chicago Atlantic Real Estate Finance Posts Q1 Net Income $4.8M, 15.8% Yield
Chicago Atlantic Real Estate Finance reported Q1 2026 net interest income of $13.1 million and net income of $4.84 million, representing $0.23 per share. Distributable earnings totaled $9.83 million, with portfolio yield steady at 15.8% and variable-rate loans comprising 64.8% of the $413.6 million portfolio.
1. Q1 Financial Results
Chicago Atlantic Real Estate Finance reported net interest income of $13.1 million in Q1 2026, down from $14.2 million a quarter earlier, and net income of $4.8 million, or $0.23 per share. Distributable earnings reached $9.8 million, and the company declared regular dividends of $0.47 per share.
2. Portfolio Composition and Yield
The company’s loan portfolio totaled $413.6 million at quarter-end, with a gross unlevered weighted average yield to maturity of 15.8%. Variable-rate loans represented 64.8% of the portfolio, and the debt-to-equity ratio rose to 38.4%, reflecting modest leverage increases.
3. Industry Outlook and Policy Impact
Recent federal rescheduling of medical cannabis to Schedule III is expected to bolster operator balance sheets and cash flows, potentially strengthening credit profiles of borrowers. Management plans to leverage private credit opportunities in the cannabis industry as policy framework details emerge.