Jernigan Capital, Inc. (JCAP) Forecasted to Post Q1 2018 Earnings of $0.23 Per Share
Jernigan Capital, Inc. (NYSE:JCAP) – Investment analysts at B. Riley cut their Q1 2018 earnings per share estimates for shares of Jernigan Capital in a research note issued on Tuesday. B. Riley analyst D. Corak now expects that the real estate investment trust will earn $0.23 per share for the quarter, down from their prior estimate of $0.44. B. Riley currently has a “Buy” rating and a $25.00 target price on the stock. B. Riley also issued estimates for Jernigan Capital’s Q2 2018 earnings at $0.88 EPS, Q3 2018 earnings at $1.27 EPS, Q4 2018 earnings at $0.20 EPS and FY2018 earnings at $2.53 EPS.
Other analysts also recently issued reports about the company. Jefferies Group LLC reaffirmed a “hold” rating and set a $22.00 price target (down from $23.00) on shares of Jernigan Capital in a research report on Tuesday, September 26th. Robert W. Baird reaffirmed a “buy” rating on shares of Jernigan Capital in a research report on Friday, November 3rd. Zacks Investment Research downgraded Jernigan Capital from a “buy” rating to a “hold” rating in a research report on Friday, October 20th. ValuEngine downgraded Jernigan Capital from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 1st. Finally, TheStreet downgraded Jernigan Capital from a “b” rating to a “c” rating in a research report on Monday, August 21st. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Jernigan Capital presently has a consensus rating of “Buy” and an average target price of $24.33.
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Jernigan Capital (NYSE:JCAP) opened at $20.15 on Friday. Jernigan Capital has a fifty-two week low of $17.98 and a fifty-two week high of $24.89. The firm has a market capitalization of $288.75 and a P/E ratio of 13.55.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. D.A. Davidson & CO. bought a new stake in shares of Jernigan Capital in the 2nd quarter valued at about $102,000. Nationwide Fund Advisors purchased a new position in Jernigan Capital during the 2nd quarter valued at about $119,000. UBS Group AG increased its holdings in Jernigan Capital by 226.1% during the 1st quarter. UBS Group AG now owns 6,966 shares of the real estate investment trust’s stock valued at $160,000 after purchasing an additional 4,830 shares during the period. The Manufacturers Life Insurance Company purchased a new position in Jernigan Capital during the 2nd quarter valued at about $175,000. Finally, American International Group Inc. increased its holdings in Jernigan Capital by 51.2% during the 3rd quarter. American International Group Inc. now owns 8,687 shares of the real estate investment trust’s stock valued at $179,000 after purchasing an additional 2,943 shares during the period. 60.18% of the stock is owned by institutional investors.
The company also recently declared a quarterly dividend, which will be paid on Friday, January 12th. Shareholders of record on Tuesday, January 2nd will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 6.95%. The ex-dividend date of this dividend is Friday, December 29th. Jernigan Capital’s dividend payout ratio (DPR) is currently 97.22%.
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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