Forward Management LLC Has $31.68 Million Position in Jernigan Capital, Inc. (JCAP)
Forward Management LLC increased its position in shares of Jernigan Capital, Inc. (NYSE:JCAP) by 174.3% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,440,000 shares of the real estate investment trust’s stock after buying an additional 915,000 shares during the period. Jernigan Capital makes up about 2.7% of Forward Management LLC’s holdings, making the stock its 8th largest position. Forward Management LLC owned approximately 0.16% of Jernigan Capital worth $31,680,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. UBS Group AG boosted its stake in shares of Jernigan Capital by 226.1% in the first quarter. UBS Group AG now owns 6,966 shares of the real estate investment trust’s stock valued at $160,000 after buying an additional 4,830 shares in the last quarter. Segantii Capital Management Ltd boosted its stake in shares of Jernigan Capital by 581.3% in the first 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. Citadel Advisors LLC boosted its stake in shares of Jernigan Capital by 27.8% in the first quarter. Citadel Advisors LLC now owns 18,786 shares of the real estate investment trust’s stock valued at $433,000 after buying an additional 4,091 shares in the last quarter. Menta Capital LLC acquired a new stake in shares of Jernigan Capital during the first quarter valued at about $438,000. Finally, LSV Asset Management boosted its stake in shares of Jernigan Capital by 651.6% in the first quarter. LSV Asset Management now owns 24,804 shares of the real estate investment trust’s stock valued at $571,000 after buying an additional 21,504 shares in the last quarter. 40.85% of the stock is currently owned by institutional investors.
Shares of Jernigan Capital, Inc. (NYSE:JCAP) opened at 21.48 on Thursday. Jernigan Capital, Inc. has a 1-year low of $16.00 and a 1-year high of $24.89. The company’s 50 day moving average is $21.84 and its 200-day moving average is $22.26. The stock has a market capitalization of $305.83 million, a price-to-earnings ratio of 11.55 and a beta of 0.84.
Jernigan Capital (NYSE:JCAP) last released its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.12. The business had revenue of $3.10 million for the quarter, compared to analyst estimates of $2.53 million. Jernigan Capital had a return on equity of 11.47% and a net margin of 185.96%. The company’s revenue was down 3.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.99 EPS. Equities analysts anticipate that Jernigan Capital, Inc. will post $1.73 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Monday, October 2nd will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 6.52%. The ex-dividend date is Friday, September 29th. Jernigan Capital’s dividend payout ratio is currently 69.65%.
Several analysts have recently issued reports on JCAP shares. Jefferies Group LLC started coverage on shares of Jernigan Capital in a research report on Monday, April 24th. They set a “hold” rating and a $25.00 price target on the stock. FBR & Co reissued a “buy” rating on shares of Jernigan Capital in a research report on Friday, May 5th. Raymond James Financial, Inc. reissued an “outperform” rating and set a $26.00 price target (up previously from $25.00) on shares of Jernigan Capital in a research report on Wednesday, June 28th. TheStreet raised shares of Jernigan Capital from a “c+” rating to a “b” rating in a research report on Monday, June 26th. Finally, Zacks Investment Research cut shares of Jernigan Capital from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 6th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. Jernigan Capital currently has an average rating of “Hold” and an average target price of $25.00.
In related news, insider John A. Good purchased 5,000 shares of Jernigan Capital stock in a transaction that occurred on Monday, August 7th. The shares were purchased at an average cost of $21.65 per share, with a total value of $108,250.00. Following the transaction, the insider now owns 217,308 shares of the company’s stock, valued at approximately $4,704,718.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director James D. Dondero purchased 100,000 shares of Jernigan Capital stock in a transaction that occurred on Tuesday, June 27th. The shares were bought at an average cost of $22.00 per share, for a total transaction of $2,200,000.00. The disclosure for this purchase can be found here. Insiders own 3.18% 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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