FBR & Co Reiterates $25.00 Price Target for Jernigan Capital, Inc. (JCAP)
FBR & Co set a $25.00 price target on Jernigan Capital, Inc. (NYSE:JCAP) in a research note issued to investors on Friday. The firm currently has a buy rating on the real estate investment trust’s stock.
JCAP has been the subject of a number of other research reports. BidaskClub downgraded Jernigan Capital from a sell rating to a strong sell rating in a research report on Thursday, August 24th. ValuEngine downgraded Jernigan Capital from a strong-buy rating to a buy rating in a research report on Tuesday, August 1st. Jefferies Group LLC reaffirmed a hold rating and issued a $22.00 price objective (down previously from $23.00) on shares of Jernigan Capital in a research report on Tuesday, September 26th. TheStreet downgraded Jernigan Capital from a b rating to a c rating in a research report on Monday, August 21st. Finally, Zacks Investment Research downgraded Jernigan Capital from a hold rating to a strong sell rating in a research report on Thursday, July 6th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has a consensus rating of Buy and an average price target of $24.33.
Shares of Jernigan Capital (NYSE:JCAP) traded up 0.38% during mid-day trading on Friday, reaching $21.30. The company’s stock had a trading volume of 11,781 shares. The company’s 50-day moving average is $20.09 and its 200 day moving average is $21.60. The firm has a market capitalization of $298.95 million, a P/E ratio of 11.41 and a beta of 0.88. Jernigan Capital has a 1-year low of $17.01 and a 1-year high of $24.89.
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 Zacks’ consensus estimate of $0.38 by $0.12. The company 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 business’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.99 earnings per share. On average, analysts expect that Jernigan Capital will post $1.59 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 13th. Stockholders of record on Monday, October 2nd were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 6.60%. The ex-dividend date was Friday, September 29th. Jernigan Capital’s dividend payout ratio is currently 69.65%.
In other news, Director Harry J. Thie purchased 1,650 shares of the stock in a transaction on Thursday, August 10th. The stock was purchased at an average price of $21.25 per share, with a total value of $35,062.50. Following the completion of the transaction, the director now owns 17,223 shares in the company, valued at $365,988.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Howard A. Silver purchased 2,481 shares of the stock in a transaction on Friday, August 11th. The shares were purchased at an average cost of $20.15 per share, with a total value of $49,992.15. Following the transaction, the director now owns 15,704 shares of the company’s stock, valued at approximately $316,435.60. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 10,600 shares of company stock valued at $222,416. Company insiders own 3.18% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the business. Goldman Sachs Group Inc. grew its position in Jernigan Capital by 0.6% during the second quarter. Goldman Sachs Group Inc. now owns 42,644 shares of the real estate investment trust’s stock valued at $938,000 after acquiring an additional 249 shares during the period. Bank of New York Mellon Corp grew its position in Jernigan Capital by 3.5% during 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 acquiring an additional 1,138 shares during the period. NFC Investments LLC grew its position in Jernigan Capital by 0.7% during the second quarter. NFC Investments LLC now owns 231,604 shares of the real estate investment trust’s stock valued at $5,095,000 after acquiring an additional 1,700 shares during the period. Citadel Advisors LLC grew its position in Jernigan Capital by 27.8% during the first quarter. Citadel Advisors LLC now owns 18,786 shares of the real estate investment trust’s stock valued at $433,000 after acquiring an additional 4,091 shares during the period. Finally, D.A. Davidson & CO. purchased a new stake in Jernigan Capital during the second quarter valued at about $102,000. 60.64% of the stock is owned by hedge funds and other institutional investors.
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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