Insider Buying: Jernigan Capital, Inc. (NYSE:JCAP) Director Buys 2,481 Shares of Stock
Jernigan Capital, Inc. (NYSE:JCAP) Director Howard A. Silver acquired 2,481 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The stock was purchased at an average price of $20.15 per share, with a total value of $49,992.15. Following the completion of the acquisition, the director now owns 15,704 shares in the company, valued at $316,435.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Jernigan Capital, Inc. (NYSE:JCAP) traded down 1.44% during midday trading on Friday, reaching $20.57. 204,819 shares of the company’s stock were exchanged. The stock has a market capitalization of $288.70 million, a price-to-earnings ratio of 11.02 and a beta of 0.84. The stock’s 50-day moving average is $21.74 and its 200-day moving average is $22.25. Jernigan Capital, Inc. has a 12-month low of $16.00 and a 12-month high of $24.89.
Jernigan Capital (NYSE:JCAP) last posted its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.50 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.12. The business had revenue of $3.10 million during the quarter, compared to analysts’ expectations of $2.53 million. Jernigan Capital had a net margin of 185.96% and a return on equity of 9.37%. The business’s quarterly revenue was down 3.7% on a year-over-year basis. During the same quarter last year, the company posted $0.99 earnings per share. On average, equities analysts forecast that Jernigan Capital, Inc. will post $1.73 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Monday, October 2nd will be issued a $0.35 dividend. The ex-dividend date of this dividend is Friday, September 29th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 6.81%. Jernigan Capital’s dividend payout ratio is currently 69.65%.
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A number of equities analysts recently weighed in on JCAP shares. Zacks Investment Research lowered shares of Jernigan Capital from a “hold” rating to a “strong sell” rating in a report on Thursday, July 6th. FBR & Co restated a “buy” rating on shares of Jernigan Capital in a report on Friday, May 5th. Jefferies Group LLC started coverage on shares of Jernigan Capital in a report on Monday, April 24th. They issued a “hold” rating and a $25.00 price objective for the company. BidaskClub lowered shares of Jernigan Capital from a “buy” rating to a “hold” rating in a report on Saturday, July 8th. Finally, Raymond James Financial, Inc. restated an “outperform” rating and issued a $26.00 price objective (up from $25.00) on shares of Jernigan Capital in a report on Wednesday, June 28th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $25.00.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Jernigan Capital by 42.2% in the second quarter. Vanguard Group Inc. now owns 449,406 shares of the real estate investment trust’s stock worth $9,887,000 after buying an additional 133,432 shares in the last quarter. Northern Trust Corp boosted its position in Jernigan Capital by 405.3% in the second quarter. Northern Trust Corp now owns 107,625 shares of the real estate investment trust’s stock worth $2,368,000 after buying an additional 86,324 shares in the last quarter. D.A. Davidson & CO. bought a new position in Jernigan Capital during the second quarter worth about $102,000. GSA Capital Partners LLP bought a new position in Jernigan Capital during the second quarter worth about $381,000. Finally, Ativo Capital Management LLC bought a new position in Jernigan Capital during the second quarter worth about $1,276,000. 40.85% of the stock is owned by institutional investors and hedge funds.
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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