Jernigan Capital (JCAP) Downgraded by ValuEngine to Sell
ValuEngine downgraded shares of Jernigan Capital (NYSE:JCAP) from a hold rating to a sell rating in a report released on Friday morning.
Other research analysts have also issued reports about the company. TheStreet upgraded Jernigan Capital from a c+ rating to a b- rating in a report on Friday, June 8th. Zacks Investment Research upgraded Jernigan Capital from a hold rating to a buy rating and set a $22.00 target price for the company in a report on Saturday, June 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. Jernigan Capital presently has an average rating of Hold and an average target price of $23.40.
Shares of NYSE JCAP opened at $19.44 on Friday. Jernigan Capital has a twelve month low of $15.90 and a twelve month high of $21.74. The firm has a market capitalization of $376.45 million, a PE ratio of 13.50 and a beta of 0.56.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Monday, October 1st will be issued a $0.35 dividend. The ex-dividend date is Friday, September 28th. This represents a $1.40 dividend on an annualized basis and a yield of 7.20%. Jernigan Capital’s dividend payout ratio (DPR) is presently 129.63%.
In related news, insider John A. Good bought 1,595 shares of the firm’s stock in a transaction that occurred on Friday, August 3rd. The stock was purchased at an average cost of $18.53 per share, for a total transaction of $29,555.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. lifted its holdings in Jernigan Capital by 7.0% during the 2nd quarter. BlackRock Inc. now owns 1,142,864 shares of the real estate investment trust’s stock worth $21,782,000 after buying an additional 74,364 shares during the last quarter. Highland Capital Management LP lifted its holdings in Jernigan Capital by 65.9% during the 2nd quarter. Highland Capital Management LP now owns 582,513 shares of the real estate investment trust’s stock worth $11,103,000 after buying an additional 231,359 shares during the last quarter. Real Estate Management Services LLC purchased a new stake in Jernigan Capital during the 2nd quarter worth about $10,754,000. Phocas Financial Corp. lifted its holdings in Jernigan Capital by 2,099.4% during the 2nd quarter. Phocas Financial Corp. now owns 532,898 shares of the real estate investment trust’s stock worth $10,157,000 after buying an additional 508,669 shares during the last quarter. Finally, Ranger Global Real Estate Advisors LLC lifted its holdings in Jernigan Capital by 1.6% during the 1st quarter. Ranger Global Real Estate Advisors LLC now owns 495,755 shares of the real estate investment trust’s stock worth $8,973,000 after buying an additional 7,736 shares during the last quarter. 67.06% of the stock is owned by institutional investors.
About Jernigan Capital
Jernigan Capital, Inc is a New York Stock Exchange-listed real estate investment trust (NYSE: JCAP) that provides debt and equity capital to private developers, owners, and operators of self-storage facilities. Our mission is to be the preeminent capital partner for self-storage entrepreneurs nationwide by offering creative solutions through an experienced team demonstrating the highest levels of integrity, dedication, excellence and community, while maximizing shareholder value.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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