Jernigan Capital, Inc. (JCAP) Receives Buy Rating from FBR & Co
FBR & Co restated their buy rating on shares of Jernigan Capital, Inc. (NYSE:JCAP) in a research note issued to investors on Thursday morning. They currently have a $25.00 target price on the real estate investment trust’s stock.
JCAP has been the topic of a number of other research reports. Zacks Investment Research cut shares of Jernigan Capital from a hold rating to a strong sell rating in a report on Thursday, July 6th. BidaskClub cut shares of Jernigan Capital from a sell rating to a strong sell rating in a report on Thursday, August 24th. TheStreet upgraded shares of Jernigan Capital from a c+ rating to a b rating in a report on Monday, June 26th. ValuEngine cut shares of Jernigan Capital from a strong-buy rating to a buy rating in a report on Tuesday, August 1st. Finally, Raymond James Financial, Inc. restated an outperform rating and issued a $26.00 target price (up previously from $25.00) on shares of Jernigan Capital in a report on Wednesday, June 28th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. Jernigan Capital has a consensus rating of Hold and a consensus price target of $25.00.
Shares of Jernigan Capital (NYSE JCAP) remained flat at $19.92 during trading on Thursday. The company had a trading volume of 76,436 shares. The company’s 50-day moving average is $19.67 and its 200 day moving average is $21.03. The stock has a market capitalization of $279.58 million, a price-to-earnings ratio of 10.68 and a beta of 0.86. Jernigan Capital has a 12-month low of $16.03 and a 12-month high of $23.18.
Jernigan Capital (NYSE:JCAP) last posted its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.50 EPS for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.12. Jernigan Capital had a net margin of 185.96% and a return on equity of 9.37%. The firm had revenue of $3.10 million for the quarter, compared to analysts’ expectations of $2.53 million. During the same quarter in the prior year, the company posted $0.99 earnings per share. The business’s revenue for the quarter was down 3.7% on a year-over-year basis. Analysts expect that Jernigan Capital will post $1.60 EPS for the current fiscal year.
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The business also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Monday, October 2nd will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 7.03%. The ex-dividend date of this dividend is Friday, September 29th. Jernigan Capital’s dividend payout ratio is currently 69.65%.
In related news, insider John A. Good bought 5,000 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The shares were bought at an average price of $21.65 per share, for a total transaction of $108,250.00. Following the completion of the acquisition, the insider now owns 217,308 shares of the company’s stock, valued at approximately $4,704,718.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James D. Dondero bought 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 27th. The stock was bought at an average price of $22.00 per share, for a total transaction of $2,200,000.00. The disclosure for this purchase can be found here. Insiders purchased 110,600 shares of company stock worth $2,422,416 in the last 90 days. 3.18% of the stock is currently owned by corporate insiders.
Hedge funds have recently modified their holdings of the stock. D.A. Davidson & CO. purchased a new stake in Jernigan Capital in the second quarter worth approximately $102,000. Nationwide Fund Advisors purchased a new stake in Jernigan Capital in the second quarter worth approximately $119,000. UBS Group AG boosted its holdings 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 worth $160,000 after purchasing an additional 4,830 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new stake in Jernigan Capital in the second quarter worth approximately $175,000. Finally, Tower Research Capital LLC TRC boosted its holdings in Jernigan Capital by 1,579.9% in the second quarter. Tower Research Capital LLC TRC now owns 9,458 shares of the real estate investment trust’s stock worth $208,000 after purchasing an additional 8,895 shares during the last quarter. Institutional investors own 60.64% 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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