Heartland Advisors Inc. Has $12.20 Million Position in Jernigan Capital, Inc. (JCAP)
Heartland Advisors Inc. lowered its position in shares of Jernigan Capital, Inc. (NYSE:JCAP) by 2.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 554,400 shares of the real estate investment trust’s stock after selling 11,250 shares during the period. Heartland Advisors Inc. owned 3.89% of Jernigan Capital worth $12,197,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. LSV Asset Management increased its position in shares of 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 worth $571,000 after buying an additional 21,504 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of 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 during the period. JPMorgan Chase & Co. increased its stake in shares of 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 during the period. Segantii Capital Management Ltd increased its stake 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 during the period. Finally, Uniplan Investment Counsel Inc. purchased a new stake in shares of Jernigan Capital during the first quarter valued at $4,007,000. 60.64% of the stock is owned by institutional investors and hedge funds.
Shares of Jernigan Capital, Inc. (JCAP) traded up 1.27% during midday trading on Thursday, reaching $19.19. 15,590 shares of the company traded hands. Jernigan Capital, Inc. has a 1-year low of $16.00 and a 1-year high of $24.89. The company has a market capitalization of $269.33 million, a PE ratio of 10.28 and a beta of 0.84. The company has a 50 day moving average price of $20.87 and a 200 day moving average price of $22.12.
Jernigan Capital (NYSE:JCAP) last announced its earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.12. The business had revenue of $3.10 million for 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 company’s quarterly revenue was down 3.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.99 EPS. On average, analysts expect that Jernigan Capital, Inc. will post $1.60 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Stockholders 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 7.39%. Jernigan Capital’s payout ratio is 69.65%.
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Several brokerages recently weighed in on JCAP. TheStreet raised shares of Jernigan Capital from a “c+” rating to a “b” rating in a research report on Monday, June 26th. Raymond James Financial, Inc. reissued an “outperform” rating and set a $26.00 price target (up previously from $25.00) on shares of Jernigan Capital in a research report on Wednesday, June 28th. FBR & Co reissued a “buy” rating on shares of Jernigan Capital in a research report on Monday, May 15th. Zacks Investment Research downgraded shares of Jernigan Capital from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 6th. Finally, BidaskClub raised shares of Jernigan Capital from a “hold” rating to a “buy” rating in a research report on Thursday, July 20th. One research 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 an average price target of $25.00.
In other news, Director Howard A. Silver acquired 2,481 shares of the company’s stock in a transaction on Friday, August 11th. The shares were bought at an average cost of $20.15 per share, with a total value of $49,992.15. Following the purchase, the director now owns 15,704 shares of the company’s stock, valued at approximately $316,435.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Harry J. Thie acquired 1,650 shares of the company’s stock in a transaction on Thursday, August 10th. The stock was purchased at an average cost of $21.25 per share, for a total transaction of $35,062.50. Following the completion of the purchase, the director now directly owns 17,223 shares in the company, valued at approximately $365,988.75. The disclosure for this purchase can be found here. Insiders bought a total of 110,600 shares of company stock worth $2,422,416 over the last ninety days. Corporate insiders own 3.18% of the company’s stock.
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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