Zacks Investment Research downgraded shares of Jernigan Capital, Inc. (NYSE:JCAP) from a buy rating to a hold rating in a research note published on Friday.

According to Zacks, “Jernigan Capital, Inc. is a commercial real estate finance company which provides financing to private developers, owners and operators of self-storage facilities. The company offers solutions for the ground-up construction of self-storage facilities or self-storage redevelopment opportunities as well as for the acquisition of, refinancing of existing indebtedness on, recapitalization of stabilized self-storage facilities. Jernigan Capital, Inc. is based in MIAMI, United States. “

A number of other brokerages have also issued reports on JCAP. Jefferies Group LLC reissued a hold rating and issued a $22.00 target price (down previously from $23.00) on shares of Jernigan Capital in a research report on Tuesday, September 26th. Raymond James Financial, Inc. reissued an outperform rating and issued a $26.00 target price (up previously from $25.00) on shares of Jernigan Capital in a research report on Wednesday, June 28th. BidaskClub raised Jernigan Capital from a hold rating to a buy rating in a research report on Thursday, July 20th. ValuEngine lowered Jernigan Capital from a strong-buy rating to a buy rating in a research report on Tuesday, August 1st. Finally, TheStreet lowered Jernigan Capital from a b rating to a c rating in a research report on Monday, August 21st. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $24.20.

Shares of Jernigan Capital (NYSE JCAP) traded up 0.61% on Friday, reaching $21.60. The company had a trading volume of 131,255 shares. The company’s 50 day moving average price is $20.38 and its 200-day moving average price is $21.57. Jernigan Capital has a 1-year low of $17.01 and a 1-year high of $24.89. The stock has a market capitalization of $303.16 million, a P/E ratio of 11.58 and a beta of 0.89.

Jernigan Capital (NYSE:JCAP) last announced its earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.12. The company had revenue of $3.10 million for the quarter, compared to analyst estimates 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 previous year, the company earned $0.99 earnings per share. Equities analysts predict that Jernigan Capital will post $1.59 EPS for the current year.

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The firm also recently declared a quarterly dividend, which was paid on Friday, October 13th. Shareholders of record on Monday, October 2nd were paid a $0.35 dividend. The ex-dividend date of this dividend was Friday, September 29th. This represents a $1.40 annualized dividend and a dividend yield of 6.48%. Jernigan Capital’s dividend payout ratio (DPR) is 69.65%.

In other Jernigan Capital news, insider John A. Good purchased 5,000 shares of the company’s stock in a transaction on Monday, August 7th. The stock was acquired at an average price of $21.65 per share, for a total transaction of $108,250.00. Following the completion of the purchase, the insider now directly owns 217,308 shares in the company, valued at approximately $4,704,718.20. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Howard A. Silver purchased 2,481 shares of the company’s stock in a transaction on Friday, August 11th. The stock was acquired at an average price of $20.15 per share, with a total value of $49,992.15. Following the purchase, the director now owns 15,704 shares of the company’s stock, valued at $316,435.60. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 10,600 shares of company stock valued at $222,416. Insiders own 3.18% of the company’s stock.

Several large investors have recently bought and sold shares of the business. Phocas Financial Corp. acquired a new position in shares of Jernigan Capital in the second quarter worth $460,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Jernigan Capital in the second quarter worth $276,000. California State Teachers Retirement System acquired a new position in shares of Jernigan Capital in the second quarter worth $361,000. Raymond James Financial Services Advisors Inc. grew its stake in shares of Jernigan Capital by 25.8% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 26,967 shares of the real estate investment trust’s stock worth $593,000 after acquiring an additional 5,527 shares in the last quarter. Finally, NFC Investments LLC grew its stake in shares of Jernigan Capital by 0.7% in the second quarter. NFC Investments LLC now owns 231,604 shares of the real estate investment trust’s stock worth $5,095,000 after acquiring an additional 1,700 shares in the last quarter. Institutional investors and hedge funds 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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