Jernigan Capital, Inc. (NYSE:JCAP) has been given a consensus rating of “Hold” by the six ratings firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $25.33.
A number of equities research analysts have weighed in on the company. TheStreet upgraded Jernigan Capital from a “c+” rating to a “b” rating in a research report on Monday, June 26th. Raymond James Financial, Inc. reiterated an “outperform” rating and issued a $26.00 price objective (up previously from $25.00) on shares of Jernigan Capital in a report on Wednesday, June 28th. BidaskClub downgraded Jernigan Capital from a “buy” rating to a “hold” rating in a report on Saturday. Zacks Investment Research downgraded Jernigan Capital from a “hold” rating to a “strong sell” rating in a report on Thursday. Finally, FBR & Co reiterated a “buy” rating on shares of Jernigan Capital in a report on Monday, May 15th.
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In related news, Director James D. Dondero acquired 100,000 shares of the firm’s stock in a transaction dated Tuesday, June 27th. The shares were purchased at an average price of $22.00 per share, for a total transaction of $2,200,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.18% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC bought a new position in Jernigan Capital during the fourth quarter valued at approximately $1,920,000. First Republic Investment Management Inc. bought a new position in Jernigan Capital during the fourth quarter valued at approximately $308,000. LSV Asset Management increased its position in Jernigan Capital by 651.6% in the first quarter. LSV Asset Management now owns 24,804 shares of the real estate investment trust’s stock valued at $571,000 after buying an additional 21,504 shares in the last quarter. Bank of New York Mellon Corp increased its position in Jernigan Capital by 3.5% in the first quarter. Bank of New York Mellon Corp now owns 33,448 shares of the real estate investment trust’s stock valued at $771,000 after buying an additional 1,138 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in Jernigan Capital by 17.3% in the first quarter. JPMorgan Chase & Co. now owns 43,769 shares of the real estate investment trust’s stock valued at $1,008,000 after buying an additional 6,458 shares in the last quarter. Hedge funds and other institutional investors own 44.47% of the company’s stock.
Shares of Jernigan Capital (NYSE:JCAP) traded up 0.23% during trading on Monday, reaching $21.39. The company’s stock had a trading volume of 23,658 shares. The stock has a market cap of $189.88 million, a P/E ratio of 9.79 and a beta of 0.87. The stock has a 50-day moving average of $22.72 and a 200-day moving average of $22.08. Jernigan Capital has a 52-week low of $13.80 and a 52-week high of $24.89.
Jernigan Capital (NYSE:JCAP) last released its quarterly earnings results on Wednesday, May 3rd. The real estate investment trust reported $0.12 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.05. Jernigan Capital had a return on equity of 12.63% and a net margin of 216.88%. The business had revenue of $2.30 million for the quarter, compared to the consensus estimate of $2.26 million. Analysts predict that Jernigan Capital will post $1.64 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 14th. Stockholders of record on Monday, July 3rd will be issued a $0.35 dividend. The ex-dividend date is Thursday, June 29th. This represents a $1.40 annualized dividend and a dividend yield of 6.56%. Jernigan Capital’s dividend payout ratio is currently 58.33%.
About Jernigan Capital
Jernigan Capital, Inc is a commercial real estate finance company. The Company provides capital to private developers, owners and operators of self-storage facilities. It intends to generate long-term returns on development property investments through a fixed rate of interest on its invested capital together with an interest in the positive cash flows of the self-storage development from operations, sales and/or refinancings.
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