Jernigan Capital, Inc. (JCAP) Lowered to Hold at BidaskClub
BidaskClub downgraded shares of Jernigan Capital, Inc. (NYSE:JCAP) from a buy rating to a hold rating in a research note released on Friday.
Other research analysts have also recently issued reports about the stock. TheStreet upgraded shares of Jernigan Capital from a c+ rating to a b rating in a research report on Monday, June 26th. FBR & Co restated a buy rating and issued a $25.00 price objective on shares of Jernigan Capital in a research report on Tuesday, May 30th. Jefferies Group LLC initiated coverage on shares of Jernigan Capital in a research report on Monday, April 24th. They issued a hold rating and a $25.00 price objective on the stock. Raymond James Financial, Inc. restated an outperform rating and issued a $26.00 price objective (up from $25.00) on shares of Jernigan Capital in a research report on Wednesday, June 28th. 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 investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $25.00.
Shares of Jernigan Capital (NYSE JCAP) traded down 1.13% during midday trading on Friday, hitting $21.02. 17,392 shares of the company traded hands. The stock has a market capitalization of $186.59 million, a PE ratio of 9.62 and a beta of 0.87. Jernigan Capital has a 52 week low of $15.84 and a 52 week high of $24.89. The stock has a 50 day moving average of $22.32 and a 200-day moving average of $22.23.
Jernigan Capital (NYSE:JCAP) last posted its quarterly earnings data on Wednesday, May 3rd. The real estate investment trust reported $0.12 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.05. The company had revenue of $2.30 million for the quarter, compared to analysts’ expectations of $2.26 million. Jernigan Capital had a net margin of 216.88% and a return on equity of 12.63%. Equities analysts forecast that Jernigan Capital will post $1.64 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Monday, July 3rd were given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 6.59%. The ex-dividend date was Thursday, June 29th. Jernigan Capital’s dividend payout ratio (DPR) is 58.33%.
In other Jernigan Capital news, Director James D. Dondero purchased 100,000 shares of Jernigan Capital stock in a transaction on Tuesday, June 27th. The shares were acquired at an average cost of $22.00 per share, for a total transaction of $2,200,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 3.18% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Investment Counselors of Maryland LLC acquired a new position in shares of Jernigan Capital during the second quarter worth approximately $8,800,000. Ranger Global Real Estate Advisors LLC boosted its position in shares of Jernigan Capital by 201.8% in the second quarter. Ranger Global Real Estate Advisors LLC now owns 494,961 shares of the real estate investment trust’s stock worth $10,889,000 after buying an additional 330,936 shares during the last quarter. Uniplan Investment Counsel Inc. acquired a new position in shares of Jernigan Capital during the first quarter worth approximately $4,007,000. KRV Capital LP acquired a new position in shares of Jernigan Capital during the second quarter worth approximately $3,516,000. Finally, Orinda Asset Management LLC acquired a new position in shares of Jernigan Capital during the second quarter worth approximately $2,272,000. Institutional investors and hedge funds own 36.74% 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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