Jernigan Capital, Inc. (JCAP) Receives $25.33 Average PT from Analysts
Jernigan Capital, Inc. (NYSE:JCAP) has been assigned a consensus rating of “Hold” from the seven analysts that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $25.33.
Several research firms have recently weighed in on JCAP. Zacks Investment Research raised Jernigan Capital from a “sell” rating to a “hold” rating in a research report on Thursday, August 17th. TheStreet cut Jernigan Capital from a “b” rating to a “c” rating in a research report on Monday, August 21st. Raymond James Financial, Inc. reissued an “outperform” rating and set a $26.00 price target (up from $25.00) on shares of Jernigan Capital in a research report on Wednesday, June 28th. BidaskClub cut Jernigan Capital from a “buy” rating to a “hold” rating in a research report on Saturday, July 8th. Finally, ValuEngine cut Jernigan Capital from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 1st.
In other Jernigan Capital news, Director James D. Dondero acquired 100,000 shares of the company’s stock in a transaction on Tuesday, June 27th. The shares were purchased at an average price of $22.00 per share, for a total transaction of $2,200,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Howard A. Silver acquired 2,481 shares of the company’s stock in a transaction on Friday, August 11th. The stock was acquired at an average price of $20.15 per share, for a total transaction of $49,992.15. Following the purchase, the director now directly owns 15,704 shares of the company’s stock, valued at $316,435.60. The disclosure for this purchase can be found here. Insiders have purchased 110,600 shares of company stock valued at $2,422,416 over the last three months. Insiders own 3.18% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. LSV Asset Management raised its stake in 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. Bank of New York Mellon Corp raised its stake in Jernigan Capital by 3.5% in the first quarter. Bank of New York Mellon Corp now owns 33,448 shares of the real estate investment trust’s stock valued at $771,000 after buying an additional 1,138 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Jernigan Capital by 17.3% in the first quarter. JPMorgan Chase & Co. now owns 43,769 shares of the real estate investment trust’s stock valued at $1,008,000 after buying an additional 6,458 shares in the last quarter. Segantii Capital Management Ltd raised its stake in 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. Finally, Uniplan Investment Counsel Inc. acquired a new stake in Jernigan Capital during the first quarter valued at about $4,007,000. Hedge funds and other institutional investors own 60.64% of the company’s stock.
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Shares of Jernigan Capital (JCAP) traded up 0.51% on Tuesday, hitting $19.54. The company had a trading volume of 198,741 shares. Jernigan Capital has a 12-month low of $16.03 and a 12-month high of $24.89. The firm has a market capitalization of $274.24 million, a P/E ratio of 10.47 and a beta of 0.84. The firm has a 50 day moving average of $20.61 and a 200-day moving average of $22.05.
Jernigan Capital (NYSE:JCAP) last posted its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.12. The company had revenue of $3.10 million during the quarter, compared to analysts’ expectations of $2.53 million. Jernigan Capital had a return on equity of 9.37% and a net margin of 185.96%. Jernigan Capital’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.99 earnings per share. On average, equities analysts predict that Jernigan Capital will post $1.60 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Monday, October 2nd will be given a dividend of $0.35 per share. The ex-dividend date is Friday, September 29th. This represents a $1.40 annualized dividend and a yield of 7.16%. Jernigan Capital’s dividend payout ratio (DPR) is presently 69.65%.
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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