Punch & Associates Investment Management Inc. Invests $21.46 Million in Jernigan Capital, Inc. $JCAP

Punch & Associates Investment Management Inc. bought a new position in Jernigan Capital, Inc. (NASDAQ:JCAP) during the first quarter, HoldingsChannel reports. The firm bought 1,115,885 shares of the real estate investment trust’s stock, valued at approximately $21,458,000. Jernigan Capital accounts for approximately 1.2% of Punch & Associates Investment Management Inc.’s holdings, making the stock its 26th biggest position.

Several other hedge funds have also bought and sold shares of JCAP. New York State Common Retirement Fund bought a new stake in Jernigan Capital during the 4th quarter valued at $34,000. Quarry LP bought a new position in shares of Jernigan Capital in the third quarter valued at $38,000. BNP Paribas Financial Markets bought a new position in shares of Jernigan Capital in the third quarter valued at $60,000. Police & Firemen s Retirement System of New Jersey grew its holdings in shares of Jernigan Capital by 133.1% during the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 3,364 shares of the real estate investment trust’s stock valued at $75,000 after buying an additional 1,921 shares during the last quarter. Finally, Assetmark Inc. grew its holdings in shares of Jernigan Capital by 100.8% during the first quarter. Assetmark Inc. now owns 4,072 shares of the real estate investment trust’s stock valued at $78,000 after buying an additional 2,044 shares during the last quarter.

Jernigan Capital Stock Performance

Shares of NASDAQ:JCAP opened at $19.82 on Friday. The company has a market capitalization of $1.22 billion and a P/E ratio of 7.65. The company’s 50-day moving average is $17.80 and its 200 day moving average is $19.76. Jernigan Capital, Inc. has a fifty-two week low of $15.50 and a fifty-two week high of $23.80.

Jernigan Capital (NASDAQ:JCAP) last posted its quarterly earnings data on Thursday, March 12th. The real estate investment trust reported $0.69 earnings per share (EPS) for the quarter. Jernigan Capital had a net margin of 25.42% and a return on equity of 38.63%. The business had revenue of $154.80 million during the quarter. As a group, research analysts predict that Jernigan Capital, Inc. will post 2.53 earnings per share for the current year.

Jernigan Capital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Tuesday, May 26th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date was Tuesday, May 26th. Jernigan Capital’s payout ratio is presently 37.07%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Zacks Research upgraded shares of Jernigan Capital from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 14th. Weiss Ratings lowered Jernigan Capital from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, June 3rd. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Jernigan Capital has an average rating of “Moderate Buy” and a consensus price target of $27.00.

Jernigan Capital Company Profile

Jernigan Capital 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 with a view to eventual outright ownership of facilities the Company finances. The Company's mission is to maximize shareholder value by accumulating a multi-billion dollar investment portfolio consisting of the newest, most attractive and best located self-storage facilities in the United States through a talented and experienced team demonstrating the highest levels of integrity, dedication, excellence and community.