Jernigan Capital Inc (JCAP) Expected to Post Quarterly Sales of $8.30 Million

Wall Street brokerages expect Jernigan Capital Inc (NYSE:JCAP) to post sales of $8.30 million for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Jernigan Capital’s earnings. The lowest sales estimate is $7.72 million and the highest is $8.89 million. Jernigan Capital posted sales of $3.36 million in the same quarter last year, which would indicate a positive year over year growth rate of 147%. The firm is expected to report its next earnings results on Wednesday, November 7th.

On average, analysts expect that Jernigan Capital will report full year sales of $30.51 million for the current financial year, with estimates ranging from $28.98 million to $32.57 million. For the next financial year, analysts forecast that the firm will report sales of $48.65 million, with estimates ranging from $40.95 million to $58.09 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Jernigan Capital.

Jernigan Capital (NYSE:JCAP) last announced its quarterly earnings data on Tuesday, July 31st. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.11. The company had revenue of $7.24 million for the quarter, compared to analysts’ expectations of $6.99 million. Jernigan Capital had a return on equity of 9.18% and a net margin of 120.18%.

A number of research firms recently weighed in on JCAP. Zacks Investment Research lowered Jernigan Capital from a “buy” rating to a “hold” rating in a report on Tuesday, June 12th. ValuEngine lowered Jernigan Capital from a “hold” rating to a “sell” rating in a report on Friday, September 21st. Finally, Jefferies Financial Group raised Jernigan Capital from a “hold” rating to a “buy” rating and boosted their target price for the stock from $20.00 to $23.00 in a report on Thursday, September 27th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $23.60.

Shares of JCAP stock traded down $0.01 during trading on Friday, reaching $19.59. 2,410 shares of the company’s stock were exchanged, compared to its average volume of 156,631. The firm has a market capitalization of $373.55 million, a PE ratio of 18.32 and a beta of 0.56. Jernigan Capital has a twelve month low of $15.90 and a twelve month high of $21.74.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Monday, October 1st will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 7.15%. The ex-dividend date is Friday, September 28th. Jernigan Capital’s dividend payout ratio is 129.63%.

In other news, insider John A. Good acquired 1,595 shares of the firm’s stock in a transaction on Friday, August 3rd. The shares were purchased at an average cost of $18.53 per share, with a total value of $29,555.35. The purchase was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 2.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Cannell Capital LLC grew its holdings in shares of Jernigan Capital by 4.3% during the 2nd quarter. Cannell Capital LLC now owns 99,990 shares of the real estate investment trust’s stock worth $1,906,000 after purchasing an additional 4,150 shares in the last quarter. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Jernigan Capital during the 2nd quarter worth $329,000. EJF Capital LLC acquired a new stake in shares of Jernigan Capital during the 2nd quarter worth $381,000. Third Avenue Management LLC acquired a new stake in shares of Jernigan Capital during the 2nd quarter worth $477,000. Finally, Highland Capital Management LP grew its holdings in shares of Jernigan Capital by 65.9% during the 2nd quarter. Highland Capital Management LP now owns 582,513 shares of the real estate investment trust’s stock worth $11,103,000 after purchasing an additional 231,359 shares in the last quarter. 67.06% of the stock is currently owned by hedge funds and other institutional investors.

About Jernigan Capital

Jernigan Capital, Inc is a New York Stock Exchange-listed real estate investment trust (NYSE: JCAP) that provides debt and equity capital to private developers, owners, and operators of self-storage facilities. Our mission is to be the preeminent capital partner for self-storage entrepreneurs nationwide by offering creative solutions through an experienced team demonstrating the highest levels of integrity, dedication, excellence and community, while maximizing shareholder value.

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Earnings History and Estimates for Jernigan Capital (NYSE:JCAP)

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