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.
ILLEGAL ACTIVITY WARNING: “Zacks Investment Research Upgrades Jernigan Capital, Inc. (NYSE:JCAP) to “Buy”” was first reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are reading this story on another publication, it was illegally stolen and reposted in violation of U.S. and international trademark & copyright law. The correct version of this story can be viewed at https://www.dispatchtribunal.com/2017/10/28/zacks-investment-research-upgrades-jernigan-capital-inc-jcap-to-buy.html.
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.
Get a free copy of the Zacks research report on Jernigan Capital (JCAP)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Jernigan Capital Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Jernigan Capital Inc. and related companies with MarketBeat.com's FREE daily email newsletter.