Jernigan Capital (NASDAQ:JCAP) Share Price Breaks Below Two Hundred Day Moving Average – Should You Sell?

Jernigan Capital, Inc. (NASDAQ:JCAP)’s stock price passed below its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $19.97 and traded as low as $19.54. Jernigan Capital shares last traded at $19.83, with a volume of 299,319 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms have recently commented on JCAP. Raymond James Financial raised their target price on Jernigan Capital from $21.00 to $24.00 and gave the company an “outperform” rating in a research report on Friday, August 14th. Citizens Jmp upped their price target on Jernigan Capital from $26.00 to $28.00 and gave the company a “market outperform” rating in a research report on Friday, August 14th. Weiss Ratings cut Jernigan Capital from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, October 16th. Zacks Research raised Jernigan Capital from a “strong sell” rating to a “hold” rating in a report on Friday, October 23rd. Finally, Truist Financial lifted their price objective on Jernigan Capital from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, August 14th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Jernigan Capital currently has a consensus rating of “Moderate Buy” and an average target price of $27.50.

Jernigan Capital Stock Down 4.8%

The firm has a market capitalization of $1.14 billion, a PE ratio of 8.09 and a beta of -0.05. The firm has a 50-day moving average price of $20.32 and a 200 day moving average price of $19.97.

Jernigan Capital (NASDAQ:JCAP) last issued its quarterly earnings results on Thursday, August 13th. The real estate investment trust reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.14. Jernigan Capital had a net margin of 23.50% and a return on equity of 35.87%. The business had revenue of $177.54 million for the quarter. Equities research analysts expect that Jernigan Capital, Inc. will post 2.39 earnings per share for the current year.

Jernigan Capital Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 3rd. Investors of record on Monday, August 24th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date was Monday, August 24th. Jernigan Capital’s dividend payout ratio is presently 39.18%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. William Blair Investment Management LLC increased its stake in Jernigan Capital by 16.1% in the third quarter. William Blair Investment Management LLC now owns 2,096,691 shares of the real estate investment trust’s stock valued at $40,005,000 after purchasing an additional 290,026 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Jernigan Capital by 98.8% in the 1st quarter. Principal Financial Group Inc. now owns 1,537,054 shares of the real estate investment trust’s stock valued at $29,558,000 after purchasing an additional 763,766 shares during the last quarter. Punch & Associates Investment Management Inc. acquired a new position in Jernigan Capital in the 1st quarter valued at $21,458,000. North Reef Capital Management LP raised its holdings in Jernigan Capital by 122.2% during the first quarter. North Reef Capital Management LP now owns 532,151 shares of the real estate investment trust’s stock worth $10,233,000 after purchasing an additional 292,678 shares in the last quarter. Finally, Alyeska Investment Group L.P. lifted its holdings in shares of Jernigan Capital by 4.6% in the 2nd quarter. Alyeska Investment Group L.P. now owns 258,318 shares of the real estate investment trust’s stock valued at $5,029,000 after buying an additional 11,246 shares during the period.

Jernigan Capital Company Profile

Jernigan Capital, Inc was a real estate finance company focused on the self-storage industry. The company provided capital to developers and owners of self-storage properties, primarily through structured investments designed to support the development, acquisition, and expansion of storage facilities.

Its investment activities concentrated on self-storage projects in major and high-growth markets across the United States. Jernigan Capital generally sought to participate in the value created through the development and operation of these properties rather than operating a broad portfolio of unrelated real estate assets.

The company was associated with self-storage executive Dean Jernigan, who served as its chief executive officer.