Jernigan Capital, Inc. (JCAP) Upgraded to Buy at ValuEngine
ValuEngine upgraded shares of Jernigan Capital, Inc. (NYSE:JCAP) from a hold rating to a buy rating in a research report sent to investors on Monday.
A number of other brokerages have also recently commented on JCAP. BidaskClub raised Jernigan Capital from a hold rating to a buy rating in a research note on Thursday, July 20th. Zacks Investment Research cut Jernigan Capital from a buy rating to a hold rating in a research note on Friday, October 20th. KeyCorp began coverage on Jernigan Capital in a research note on Thursday, October 19th. They set an overweight rating and a $24.00 target price on the stock. FBR & Co set a $25.00 target price on Jernigan Capital and gave the company a buy rating in a research note on Friday, October 13th. Finally, Jefferies Group LLC reissued a hold rating and set a $22.00 target price (down from $23.00) on shares of Jernigan Capital in a research note on Tuesday, September 26th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $24.20.
Jernigan Capital (NYSE:JCAP) traded up $0.32 during trading hours on Monday, reaching $20.56. The company had a trading volume of 234,967 shares, compared to its average volume of 142,520. The company has a quick ratio of 44.83, a current ratio of 44.83 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $288.33 and a price-to-earnings ratio of 13.60. Jernigan Capital has a 52-week low of $17.61 and a 52-week high of $24.89.
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The firm also recently announced a quarterly dividend, which will be paid on Friday, January 12th. Stockholders of record on Tuesday, January 2nd will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, December 29th. This represents a $1.40 annualized dividend and a dividend yield of 6.81%. Jernigan Capital’s dividend payout ratio (DPR) is presently 70.35%.
In other news, Director Harry J. Thie purchased 1,650 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The shares were bought at an average cost of $21.25 per share, for a total transaction of $35,062.50. Following the completion of the transaction, the director now directly owns 17,223 shares of the company’s stock, valued at approximately $365,988.75. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Howard A. Silver purchased 2,481 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The shares were purchased at an average price of $20.15 per share, for a total transaction of $49,992.15. Following the completion of the transaction, 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 bought 5,100 shares of company stock worth $103,366 over the last three months. Insiders own 3.18% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in JCAP. Forward Management LLC boosted its position in shares of Jernigan Capital by 174.3% during the second quarter. Forward Management LLC now owns 1,440,000 shares of the real estate investment trust’s stock valued at $31,680,000 after purchasing an additional 915,000 shares in the last quarter. Investment Counselors of Maryland LLC bought a new stake in Jernigan Capital in the second quarter worth $8,800,000. Uniplan Investment Counsel Inc. boosted its holdings in Jernigan Capital by 212.5% in the second quarter. Uniplan Investment Counsel Inc. now owns 543,540 shares of the real estate investment trust’s stock worth $11,414,000 after acquiring an additional 369,588 shares in the last quarter. Ranger Global Real Estate Advisors LLC boosted its holdings in 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 acquiring an additional 330,936 shares in the last quarter. Finally, Chicago Equity Partners LLC bought a new stake in Jernigan Capital in the third quarter worth $4,245,000. Institutional investors own 58.96% 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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