Jernigan Capital (NASDAQ:JCAP) Stock Price Down 5.5% – Here’s Why

Shares of Jernigan Capital, Inc. (NASDAQ:JCAP) dropped 5.5% during mid-day trading on Monday. The stock traded as low as $19.67 and last traded at $19.67. 5,414 shares traded hands during trading, a decline of 98% from the average daily volume of 322,706 shares. The stock had previously closed at $20.82.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on JCAP shares. Truist Financial raised their price objective on shares of Jernigan Capital from $26.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, August 14th. Citizens Jmp upped their target price on shares of Jernigan Capital from $26.00 to $28.00 and gave the stock a “market outperform” rating in a research note on Friday, August 14th. Zacks Research upgraded Jernigan Capital from a “strong sell” rating to a “hold” rating in a report on Friday, October 23rd. Weiss Ratings downgraded Jernigan Capital from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, October 16th. Finally, Raymond James Financial lifted their price target on Jernigan Capital from $21.00 to $24.00 and gave the company an “outperform” rating in a research note on Friday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Jernigan Capital presently has a consensus rating of “Moderate Buy” and an average target price of $27.50.

Jernigan Capital Trading Down 2.9%

The company has a market cap of $1.13 billion, a P/E ratio of 7.79 and a beta of -0.05. The business has a 50 day moving average price of $20.28 and a 200-day moving average price of $19.95.

Jernigan Capital (NASDAQ:JCAP) last released its earnings results on Thursday, August 13th. The real estate investment trust reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.14. The business had revenue of $177.54 million during the quarter. Jernigan Capital had a net margin of 23.50% and a return on equity of 35.87%. On average, sell-side analysts expect that Jernigan Capital, Inc. will post 2.39 earnings per share for the current year.

Jernigan Capital Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Monday, August 24th were paid a $0.24 dividend. The ex-dividend date was Monday, August 24th. This represents a $0.96 dividend on an annualized basis and a yield of 4.9%. Jernigan Capital’s dividend payout ratio (DPR) is currently 39.18%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of JCAP. State of Alaska Department of Revenue bought a new stake in shares of Jernigan Capital in the 3rd quarter valued at about $41,000. State of Wyoming acquired a new stake in Jernigan Capital in the 3rd quarter valued at about $65,000. Assetmark Inc. lifted its stake in Jernigan Capital by 100.8% in the 1st quarter. Assetmark Inc. now owns 4,072 shares of the real estate investment trust’s stock valued at $78,000 after purchasing an additional 2,044 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in Jernigan Capital by 135.7% in the 3rd quarter. Nisa Investment Advisors LLC now owns 5,401 shares of the real estate investment trust’s stock valued at $103,000 after purchasing an additional 3,110 shares during the last quarter. Finally, WINTON GROUP Ltd bought a new position in Jernigan Capital during the second quarter worth about $211,000.

About Jernigan Capital

Jernigan Capital, Inc. was a real estate investment trust focused on the U.S. self-storage industry. The company provided financing and investment capital for the development of self-storage properties, partnering with developers and operators on projects across the country. Founded by self-storage industry executive Dean Jernigan, the company made debt and equity investments in development-stage facilities and, in some cases, retained ownership interests as projects were completed. Jernigan served as the company’s chairman and chief executive officer.