NFC Investments LLC Raises Position in Jernigan Capital, Inc. (JCAP)
NFC Investments LLC boosted its stake in Jernigan Capital, Inc. (NYSE:JCAP) by 0.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 231,604 shares of the real estate investment trust’s stock after purchasing an additional 1,700 shares during the period. Jernigan Capital comprises about 1.8% of NFC Investments LLC’s holdings, making the stock its 20th largest holding. NFC Investments LLC owned about 1.63% of Jernigan Capital worth $5,095,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors also recently modified their holdings of JCAP. Bank of New York Mellon Corp lifted its stake in Jernigan Capital by 3.5% in the 1st quarter. Bank of New York Mellon Corp now owns 33,448 shares of the real estate investment trust’s stock valued at $771,000 after purchasing an additional 1,138 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Jernigan Capital by 17.3% in the 1st quarter. JPMorgan Chase & Co. now owns 43,769 shares of the real estate investment trust’s stock valued at $1,008,000 after purchasing an additional 6,458 shares during the last quarter. Menta Capital LLC bought a new position in Jernigan Capital in the 1st quarter valued at approximately $438,000. Vanguard Group Inc. lifted its stake in Jernigan Capital by 7.3% in the 1st quarter. Vanguard Group Inc. now owns 315,974 shares of the real estate investment trust’s stock valued at $7,280,000 after purchasing an additional 21,631 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Jernigan Capital by 20.7% in the 1st quarter. Geode Capital Management LLC now owns 40,831 shares of the real estate investment trust’s stock valued at $940,000 after purchasing an additional 7,008 shares during the last quarter. 60.64% of the stock is owned by institutional investors and hedge funds.
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In other Jernigan Capital news, insider John A. Good acquired 5,000 shares of the stock in a transaction dated Monday, August 7th. The stock was purchased at an average cost of $21.65 per share, for a total transaction of $108,250.00. Following the acquisition, the insider now owns 217,308 shares in the company, valued at approximately $4,704,718.20. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Harry J. Thie acquired 1,650 shares of the stock in a transaction dated Thursday, August 10th. The stock was acquired at an average price of $21.25 per share, with a total value of $35,062.50. Following the completion of the acquisition, the director now owns 17,223 shares in the company, valued at approximately $365,988.75. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 10,600 shares of company stock valued at $222,416. Company insiders own 3.18% of the company’s stock.
JCAP has been the subject of several research reports. TheStreet raised shares of Jernigan Capital from a “c+” rating to a “b” rating in a research note on Monday, June 26th. FBR & Co reissued a “buy” rating and issued a $25.00 price objective on shares of Jernigan Capital in a research note on Thursday, September 14th. BidaskClub raised shares of Jernigan Capital from a “hold” rating to a “buy” rating in a research note on Thursday, July 20th. ValuEngine downgraded shares of Jernigan Capital from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 1st. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $22.00 price objective (down previously from $23.00) on shares of Jernigan Capital in a research note on Tuesday, September 26th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $24.33.
Shares of Jernigan Capital, Inc. (JCAP) traded up 0.39% during trading on Friday, reaching $20.61. 142,268 shares of the company’s stock traded hands. Jernigan Capital, Inc. has a 52-week low of $17.01 and a 52-week high of $23.18. The company has a market cap of $289.26 million, a price-to-earnings ratio of 11.05 and a beta of 0.89. The company’s 50-day moving average is $20.20 and its 200 day moving average is $20.20.
Jernigan Capital (NYSE:JCAP) last announced its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $0.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.12. The firm had revenue of $3.10 million during the quarter, compared to analyst estimates of $2.53 million. Jernigan Capital had a net margin of 185.96% and a return on equity of 9.37%. The business’s quarterly revenue was down 3.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.99 EPS. Equities analysts forecast that Jernigan Capital, Inc. will post $1.54 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Monday, October 2nd will be issued a $0.35 dividend. The ex-dividend date of this dividend is Friday, September 29th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 6.79%. Jernigan Capital’s payout ratio is 69.65%.
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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