Zacks Investment Research Upgrades Jernigan Capital, Inc. (NYSE:JCAP) to “Buy”

Zacks Investment Research upgraded shares of Jernigan Capital, Inc. (NYSE:JCAP) from a hold rating to a buy rating in a report published on Tuesday, October 17th. The firm currently has $24.00 price objective on the real estate investment trust’s stock.

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. “

JCAP has been the topic of a number of other reports. BidaskClub raised shares of Jernigan Capital from a sell rating to a hold rating in a research note on Saturday, September 30th. 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. ValuEngine cut shares of Jernigan Capital from a strong-buy rating to a buy rating in a research note on Tuesday, August 1st. Finally, Raymond James Financial, Inc. reissued an outperform rating and issued a $26.00 price objective (up from $25.00) on shares of Jernigan Capital in a research note on Wednesday, June 28th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $24.20.

Shares of Jernigan Capital (NYSE:JCAP) opened at 20.86 on Tuesday. Jernigan Capital has a 52-week low of $17.01 and a 52-week high of $24.89. The company has a market capitalization of $292.77 million, a price-to-earnings ratio of 11.18 and a beta of 0.89. The company’s 50-day moving average price is $20.51 and its 200-day moving average price is $21.54.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.12. The business had revenue of $3.10 million for the quarter, compared to analysts’ expectations of $2.53 million. Jernigan Capital had a net margin of 185.96% and a return on equity of 9.37%. The firm’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same period last year, the firm posted $0.99 earnings per share. Equities research analysts forecast that Jernigan Capital will post $1.61 EPS for the current fiscal year.

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The business also recently announced a quarterly dividend, which was paid on Friday, October 13th. Shareholders of record on Monday, October 2nd were paid a dividend of $0.35 per share. The ex-dividend date was Friday, September 29th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 6.71%. Jernigan Capital’s payout ratio is presently 69.65%.

In related news, Director Harry J. Thie bought 1,650 shares of the firm’s stock in a transaction on Thursday, August 10th. The shares were purchased at an average price of $21.25 per share, with a total value of $35,062.50. Following the completion of the purchase, the director now owns 17,223 shares in the company, valued at approximately $365,988.75. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider John A. Good bought 5,000 shares of the firm’s stock in a transaction on Monday, August 7th. The shares were bought at an average cost of $21.65 per share, for a total transaction of $108,250.00. Following the purchase, the insider now owns 217,308 shares of the company’s stock, valued at approximately $4,704,718.20. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 10,600 shares of company stock worth $222,416. Insiders own 3.18% of the company’s stock.

Several institutional investors have recently modified their holdings of JCAP. D.A. Davidson & CO. bought a new stake in shares of Jernigan Capital in the second quarter worth $102,000. Nationwide Fund Advisors bought a new stake in shares of Jernigan Capital in the second quarter worth $119,000. UBS Group AG grew its stake in shares of Jernigan Capital by 226.1% in the first quarter. UBS Group AG now owns 6,966 shares of the real estate investment trust’s stock worth $160,000 after purchasing an additional 4,830 shares during the last quarter. The Manufacturers Life Insurance Company bought a new stake in shares of Jernigan Capital in the second quarter worth $175,000. Finally, Tower Research Capital LLC TRC grew its stake in shares of Jernigan Capital by 1,579.9% in the second quarter. Tower Research Capital LLC TRC now owns 9,458 shares of the real estate investment trust’s stock worth $208,000 after purchasing an additional 8,895 shares during the last quarter. 60.65% of the stock is currently owned by institutional investors.

About Jernigan Capital

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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