Phocas Financial Corp. purchased a new position in Jernigan Capital, Inc. (NYSE:JCAP) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 20,891 shares of the real estate investment trust’s stock, valued at approximately $460,000. Phocas Financial Corp. owned approximately 0.15% of Jernigan Capital as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Goldman Sachs Group Inc. increased its holdings in Jernigan Capital by 0.6% in the 2nd quarter. Goldman Sachs Group Inc. now owns 42,644 shares of the real estate investment trust’s stock worth $938,000 after acquiring an additional 249 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Jernigan Capital by 3.5% during the first quarter. Bank of New York Mellon Corp now owns 33,448 shares of the real estate investment trust’s stock worth $771,000 after buying an additional 1,138 shares in the last quarter. NFC Investments LLC grew its holdings in shares of Jernigan Capital by 0.7% during the second quarter. NFC Investments LLC now owns 231,604 shares of the real estate investment trust’s stock worth $5,095,000 after buying an additional 1,700 shares in the last quarter. Citadel Advisors LLC grew its holdings in shares of Jernigan Capital by 27.8% in the first quarter. Citadel Advisors LLC now owns 18,786 shares of the real estate investment trust’s stock valued at $433,000 after purchasing an additional 4,091 shares during the period. Finally, D.A. Davidson & CO. acquired a new position in Jernigan Capital in the second quarter valued at about $102,000. 60.65% of the stock is owned by institutional investors.
Jernigan Capital, Inc. (NYSE JCAP) traded up 0.87% during mid-day trading on Friday, reaching $20.88. The company had a trading volume of 23,233 shares. Jernigan Capital, Inc. has a 12 month low of $17.01 and a 12 month high of $24.89. The stock’s 50-day moving average is $20.51 and its 200 day moving average is $21.54. The firm has a market capitalization of $293.05 million, a P/E ratio of 11.19 and a beta of 0.89.
Jernigan Capital (NYSE:JCAP) last posted its earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.50 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.12. The business had revenue of $3.10 million during the quarter, compared to the consensus estimate of $2.53 million. Jernigan Capital had a return on equity of 9.37% and a net margin of 185.96%. Jernigan Capital’s revenue was down 3.7% on a year-over-year basis. During the same quarter last year, the company earned $0.99 EPS. On average, analysts predict that Jernigan Capital, Inc. will post $1.61 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, October 13th. Investors of record on Monday, October 2nd were given a dividend of $0.35 per share. The ex-dividend date was Friday, September 29th. This represents a $1.40 annualized dividend and a dividend yield of 6.76%. Jernigan Capital’s dividend payout ratio (DPR) is presently 69.65%.
In other news, insider John A. Good bought 5,000 shares of the stock in a transaction dated Monday, August 7th. The stock was bought at an average cost of $21.65 per share, with a total value of $108,250.00. Following the purchase, the insider now owns 217,308 shares of the company’s stock, valued at $4,704,718.20. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Howard A. Silver bought 2,481 shares of the stock in a transaction dated Friday, August 11th. The stock was purchased at an average cost of $20.15 per share, with a total value of $49,992.15. Following the completion of the purchase, the director now directly owns 15,704 shares in the company, valued at approximately $316,435.60. The disclosure for this purchase can be found here. Insiders have purchased a total of 10,600 shares of company stock valued at $222,416 in the last 90 days. 3.18% of the stock is owned by corporate insiders.
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Several analysts have recently issued reports on JCAP shares. BidaskClub cut shares of Jernigan Capital from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 24th. ValuEngine cut shares of Jernigan Capital from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 1st. Jefferies Group LLC reissued a “hold” rating and set a $22.00 price target (down previously from $23.00) on shares of Jernigan Capital in a research report on Tuesday, September 26th. FBR & Co reaffirmed a “buy” rating and issued a $25.00 target price on shares of Jernigan Capital in a report on Thursday, September 14th. Finally, Zacks Investment Research cut shares of Jernigan Capital from a “hold” rating to a “strong sell” rating in a report on Thursday, July 6th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $24.20.
Jernigan Capital 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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