Principal Financial Group Inc. Raises Holdings in Jernigan Capital, Inc. $JCAP

Principal Financial Group Inc. increased its stake in shares of Jernigan Capital, Inc. (NASDAQ:JCAP) by 98.8% in the 1st quarter, HoldingsChannel reports. The firm owned 1,537,054 shares of the real estate investment trust’s stock after buying an additional 763,766 shares during the quarter. Principal Financial Group Inc.’s holdings in Jernigan Capital were worth $29,558,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of JCAP. Wellington Management Group LLP grew its holdings in Jernigan Capital by 64.9% during the 4th quarter. Wellington Management Group LLP now owns 1,817,039 shares of the real estate investment trust’s stock valued at $40,593,000 after buying an additional 715,258 shares during the last quarter. William Blair Investment Management LLC raised its holdings in shares of Jernigan Capital by 6.5% in the fourth quarter. William Blair Investment Management LLC now owns 1,484,109 shares of the real estate investment trust’s stock worth $33,155,000 after acquiring an additional 89,967 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its holdings in shares of Jernigan Capital by 5.6% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,287,509 shares of the real estate investment trust’s stock worth $28,763,000 after acquiring an additional 68,341 shares during the last quarter. Nantahala Capital Management LLC purchased a new stake in shares of Jernigan Capital in the second quarter valued at $11,070,000. Finally, Vanguard Group Inc. lifted its position in shares of Jernigan Capital by 665.2% in the third quarter. Vanguard Group Inc. now owns 573,931 shares of the real estate investment trust’s stock valued at $9,906,000 after acquiring an additional 498,931 shares in the last quarter.

Analyst Upgrades and Downgrades

JCAP has been the topic of a number of analyst reports. Zacks Research raised Jernigan Capital from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 14th. Weiss Ratings lowered shares of Jernigan Capital from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, June 3rd. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Jernigan Capital currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.20.

Jernigan Capital Stock Performance

Shares of NASDAQ JCAP opened at $19.54 on Monday. The firm has a market cap of $1.20 billion and a P/E ratio of 7.54. Jernigan Capital, Inc. has a 1 year low of $15.50 and a 1 year high of $23.80. The firm’s 50 day moving average price is $17.74 and its 200 day moving average price is $19.86.

Jernigan Capital (NASDAQ:JCAP) last issued its quarterly earnings results on Thursday, March 12th. The real estate investment trust reported $0.69 earnings per share for the quarter. Jernigan Capital had a return on equity of 38.63% and a net margin of 25.42%.The company had revenue of $154.80 million during the quarter. As a group, equities analysts predict that Jernigan Capital, Inc. will post 2.53 EPS for the current year.

Jernigan Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Tuesday, May 26th were given a $0.24 dividend. The ex-dividend date of this dividend was Tuesday, May 26th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.9%. Jernigan Capital’s payout ratio is currently 37.07%.

Jernigan Capital Company Profile

Jernigan Capital is a New York Stock Exchange-listed real estate investment trust (NYSE: JCAP) that provides debt and equity capital to private developers, owners and operators of self-storage facilities with a view to eventual outright ownership of facilities the Company finances. The Company's mission is to maximize shareholder value by accumulating a multi-billion dollar investment portfolio consisting of the newest, most attractive and best located self-storage facilities in the United States through a talented and experienced team demonstrating the highest levels of integrity, dedication, excellence and community.