$0.40 Earnings Per Share Expected for Jernigan Capital, Inc. (NYSE:JCAP) This Quarter
Brokerages forecast that Jernigan Capital, Inc. (NYSE:JCAP) will post $0.40 earnings per share for the current quarter, Zacks reports. Four analysts have issued estimates for Jernigan Capital’s earnings, with estimates ranging from $0.27 to $0.46. Jernigan Capital reported earnings per share of $0.84 during the same quarter last year, which indicates a negative year-over-year growth rate of 52.4%. The company is scheduled to report its next quarterly earnings results on Wednesday, November 1st.
On average, analysts expect that Jernigan Capital will report full year earnings of $1.75 per share for the current year, with EPS estimates ranging from $1.71 to $1.80. For the next fiscal year, analysts forecast that the company will post earnings of $2.72 per share, with EPS estimates ranging from $2.42 to $2.97. Zacks’ EPS averages are an average based on a survey of sell-side research firms that that provide coverage for Jernigan Capital.
Jernigan Capital (NYSE:JCAP) last issued its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.12. Jernigan Capital had a return on equity of 11.47% and a net margin of 185.96%. The company had revenue of $3.10 million during the quarter, compared to analyst estimates of $2.53 million. During the same period in the previous year, the company earned $0.99 earnings per share. The company’s quarterly revenue was down 3.7% compared to the same quarter last year.
JCAP has been the subject of several research analyst reports. TheStreet upgraded Jernigan Capital from a “c+” rating to a “b” rating in a research note on Monday, June 26th. BidaskClub upgraded Jernigan Capital from a “hold” rating to a “buy” rating in a research note on Thursday, July 20th. FBR & Co reiterated a “buy” rating and set a $25.00 target price on shares of Jernigan Capital in a research note on Tuesday, May 30th. ValuEngine downgraded Jernigan Capital from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 1st. Finally, Jefferies Group LLC initiated coverage on Jernigan Capital in a research note on Monday, April 24th. They set a “hold” rating and a $25.00 target price for the company. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $25.00.
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In other news, Director James D. Dondero purchased 100,000 shares of Jernigan Capital stock in a transaction that occurred on Tuesday, June 27th. The stock was acquired at an average cost of $22.00 per share, for a total transaction of $2,200,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 3.18% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in JCAP. UBS Group AG increased its stake in Jernigan Capital by 226.1% in the first quarter. UBS Group AG now owns 6,966 shares of the real estate investment trust’s stock valued at $160,000 after buying an additional 4,830 shares during the period. Rhumbline Advisers bought a new position in shares of Jernigan Capital during the second quarter valued at $224,000. Segantii Capital Management Ltd boosted its position in shares of Jernigan Capital by 581.3% in the first quarter. Segantii Capital Management Ltd now owns 10,900 shares of the real estate investment trust’s stock valued at $251,000 after buying an additional 9,300 shares in the last quarter. Schwab Charles Investment Management Inc. bought a new position in shares of Jernigan Capital during the second quarter valued at $348,000. Finally, Citadel Advisors LLC boosted its position in shares of Jernigan Capital by 27.8% in the first quarter. Citadel Advisors LLC now owns 18,786 shares of the real estate investment trust’s stock valued at $433,000 after buying an additional 4,091 shares in the last quarter. Institutional investors and hedge funds own 40.85% of the company’s stock.
Shares of Jernigan Capital (JCAP) traded down 0.28% on Monday, hitting $21.60. The stock had a trading volume of 190,205 shares. Jernigan Capital has a 52 week low of $16.00 and a 52 week high of $24.89. The stock’s 50-day moving average price is $22.26 and its 200 day moving average price is $22.24. The company has a market cap of $307.54 million, a PE ratio of 11.62 and a beta of 0.84.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Monday, October 2nd will be paid a $0.35 dividend. The ex-dividend date is Friday, September 29th. This represents a $1.40 annualized dividend and a yield of 6.48%. Jernigan Capital’s dividend payout ratio (DPR) is presently 69.65%.
Jernigan Capital Company Profile
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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