Jernigan Capital, Inc. (NYSE:JCAP) Director Acquires $35,062.50 in Stock
Jernigan Capital, Inc. (NYSE:JCAP) Director Harry J. Thie bought 1,650 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The shares were acquired at an average cost of $21.25 per share, with a total value of $35,062.50. Following the purchase, the director now directly owns 17,223 shares of the company’s stock, valued at $365,988.75. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website.
Shares of Jernigan Capital, Inc. (NYSE:JCAP) traded down 1.44% on Friday, reaching $20.57. The company’s stock had a trading volume of 204,819 shares. Jernigan Capital, Inc. has a 12-month low of $16.00 and a 12-month high of $24.89. The company’s 50 day moving average price is $21.74 and its 200 day moving average price is $22.25. The company has a market cap of $288.70 million, a P/E ratio of 11.02 and a beta of 0.84.
Jernigan Capital (NYSE:JCAP) last posted its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $2.53 million. Jernigan Capital had a return on equity of 9.37% and a net margin of 185.96%. The firm’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.99 EPS. Analysts forecast that Jernigan Capital, Inc. will post $1.73 EPS for the current fiscal 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 paid a $0.35 dividend. The ex-dividend date of this dividend is Friday, September 29th. This represents a $1.40 annualized dividend and a dividend yield of 6.81%. Jernigan Capital’s payout ratio is currently 69.65%.
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Several research firms recently commented on JCAP. Jefferies Group LLC began coverage on Jernigan Capital in a research note on Monday, April 24th. They set a “hold” rating and a $25.00 target price for the company. TheStreet raised Jernigan Capital from a “c+” rating to a “b” rating in a research note on Monday, June 26th. Raymond James Financial, Inc. reaffirmed an “outperform” rating and set a $26.00 target price (up previously from $25.00) on shares of Jernigan Capital in a research note on Wednesday, June 28th. FBR & Co reaffirmed a “buy” rating on shares of Jernigan Capital in a research note on Monday, May 15th. Finally, Zacks Investment Research cut Jernigan Capital from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. Jernigan Capital has an average rating of “Hold” and an average price target of $25.00.
Several hedge funds have recently bought and sold shares of the company. Goldman Sachs Group Inc. bought a new stake in Jernigan Capital during the first quarter valued at $977,000. Citadel Advisors LLC increased its stake in 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 during the last quarter. Morgan Stanley increased its stake in Jernigan Capital by 71.9% in the first quarter. Morgan Stanley now owns 80,475 shares of the real estate investment trust’s stock valued at $1,854,000 after buying an additional 33,669 shares during the last quarter. UBS Group AG increased its stake in 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 during the last quarter. Finally, Geode Capital Management LLC increased its stake in Jernigan Capital by 20.7% in the first quarter. Geode Capital Management LLC now owns 40,831 shares of the real estate investment trust’s stock valued at $940,000 after buying an additional 7,008 shares during the last quarter. Institutional investors own 40.85% of the company’s stock.
Jernigan Capital Company Profile
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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