Schwab Charles Investment Management Inc. Buys New Position in Jernigan Capital, Inc. (JCAP)
Schwab Charles Investment Management Inc. bought a new position in shares of Jernigan Capital, Inc. (NYSE:JCAP) during the second quarter, according to its most recent filing with the SEC. The fund bought 15,800 shares of the real estate investment trust’s stock, valued at approximately $348,000. Schwab Charles Investment Management Inc. owned 0.18% of Jernigan Capital at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Forward Management LLC raised its stake in shares of Jernigan Capital by 174.3% during the 2nd quarter. Forward Management LLC now owns 1,440,000 shares of the real estate investment trust’s stock worth $31,680,000 after purchasing an additional 915,000 shares during the period. Investment Counselors of Maryland LLC purchased a new stake in Jernigan Capital in the 2nd quarter worth about $8,800,000. KRV Capital LP purchased a new stake in Jernigan Capital in the 2nd quarter worth about $3,516,000. Ranger Global Real Estate Advisors LLC increased its holdings in Jernigan Capital by 201.8% in the 2nd quarter. Ranger Global Real Estate Advisors LLC now owns 494,961 shares of the real estate investment trust’s stock worth $10,889,000 after acquiring an additional 330,936 shares during the last quarter. Finally, Orinda Asset Management LLC purchased a new stake in Jernigan Capital in the 2nd quarter worth about $2,272,000. Institutional investors own 58.96% of the company’s stock.
In related news, Director Howard A. Silver acquired 2,481 shares of the stock in a transaction on Friday, August 11th. The stock was purchased at an average price of $20.15 per share, for a total transaction of $49,992.15. Following the completion of the transaction, the director now owns 15,704 shares of the company’s stock, valued at approximately $316,435.60. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Harry J. Thie acquired 1,650 shares of the stock in a transaction on Thursday, August 10th. The stock was bought at an average price of $21.25 per share, with a total value of $35,062.50. Following the transaction, the director now directly owns 17,223 shares of the company’s stock, valued at approximately $365,988.75. The disclosure for this purchase can be found here. Insiders purchased a total of 5,100 shares of company stock valued at $103,366 in the last 90 days. 3.18% of the stock is currently owned by corporate insiders.
A number of research analysts have weighed in on the company. BidaskClub lowered Jernigan Capital from a “sell” rating to a “strong sell” rating in a report on Thursday, August 24th. Zacks Investment Research lowered Jernigan Capital from a “buy” rating to a “hold” rating in a report on Saturday, October 28th. KeyCorp assumed coverage on Jernigan Capital in a report on Thursday, October 19th. They set an “overweight” rating and a $24.00 target price for the company. ValuEngine lowered Jernigan Capital from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 1st. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $22.00 target price (down previously from $23.00) on shares of Jernigan Capital in a report on Tuesday, September 26th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $24.20.
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Shares of Jernigan Capital, Inc. (NYSE:JCAP) opened at $20.56 on Wednesday. The stock has a market capitalization of $288.18, a PE ratio of 13.68 and a beta of 0.87. The company has a current ratio of 44.83, a quick ratio of 44.83 and a debt-to-equity ratio of 0.08. Jernigan Capital, Inc. has a 12-month low of $17.61 and a 12-month high of $24.89.
The company also recently announced a quarterly dividend, which will be paid on Friday, January 12th. Investors of record on Tuesday, January 2nd will be given a $0.35 dividend. The ex-dividend date is Friday, December 29th. This represents a $1.40 dividend on an annualized basis and a yield of 6.81%. Jernigan Capital’s payout ratio is 95.89%.
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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