Jernigan Capital, Inc. (JCAP) Raised to “Hold” at BidaskClub
BidaskClub upgraded shares of Jernigan Capital, Inc. (NYSE:JCAP) from a sell rating to a hold rating in a research note issued to investors on Saturday.
Several other research firms have also recently weighed in on JCAP. Zacks Investment Research cut Jernigan Capital from a hold rating to a strong sell rating in a research report on Thursday, July 6th. Raymond James Financial, Inc. reissued an outperform rating and issued a $26.00 target price (up previously from $25.00) on shares of Jernigan Capital in a research report on Wednesday, June 28th. ValuEngine cut shares of Jernigan Capital from a strong-buy rating to a buy rating in a research report on Tuesday, August 1st. TheStreet downgraded shares of Jernigan Capital from a b rating to a c rating in a research note on Monday, August 21st. Finally, FBR & Co restated a buy rating and issued a $25.00 price target on shares of Jernigan Capital in a research note on Thursday, September 14th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $24.25.
Jernigan Capital (JCAP) opened at 20.65 on Friday. The company has a 50-day moving average price of $20.12 and a 200 day moving average price of $20.12. The company has a market capitalization of $289.82 million, a PE ratio of 11.07 and a beta of 0.88. Jernigan Capital has a 12 month low of $16.03 and a 12 month high of $23.18.
Jernigan Capital (NYSE:JCAP) last released its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.50 earnings per share for the quarter, topping the Thomson Reuters’ 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 return on equity of 9.37% and a net margin of 185.96%. The firm’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same period last year, the firm posted $0.99 EPS. On average, equities research analysts forecast that Jernigan Capital will post $1.54 EPS for the current fiscal year.
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The business also recently disclosed 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 annualized dividend and a yield of 6.78%. Jernigan Capital’s dividend payout ratio is presently 69.65%.
In related news, insider John A. Good purchased 5,000 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The stock was acquired at an average price of $21.65 per share, with a total value of $108,250.00. Following the completion of the purchase, the insider now directly owns 217,308 shares in the company, valued at $4,704,718.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Harry J. Thie purchased 1,650 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The stock was bought at an average cost of $21.25 per share, with a total value of $35,062.50. Following the purchase, the director now owns 17,223 shares of the company’s stock, valued at $365,988.75. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 10,600 shares of company stock valued at $222,416. Corporate insiders own 3.18% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp increased its holdings in Jernigan Capital by 3.5% in the 1st 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. raised its position in shares of Jernigan Capital by 17.3% in the 1st 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. Segantii Capital Management Ltd raised its position in shares of Jernigan Capital by 581.3% in the 1st 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. Uniplan Investment Counsel Inc. acquired a new position in shares of Jernigan Capital in the 1st quarter valued at approximately $4,007,000. Finally, Menta Capital LLC bought a new stake in shares of Jernigan Capital during the 1st quarter worth approximately $438,000. Hedge funds and other institutional investors own 60.64% 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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