Jernigan Capital Inc (NYSE:JCAP) Director James D. Dondero sold 23,000 shares of the business’s stock in a transaction dated Thursday, December 28th. The stock was sold at an average price of $19.27, for a total transaction of $443,210.00. The transaction was disclosed in a filing with the SEC, which is available through this link.
Shares of Jernigan Capital Inc (NYSE JCAP) traded down $0.21 during trading on Friday, reaching $18.50. 149,760 shares of the company were exchanged, compared to its average volume of 184,068. Jernigan Capital Inc has a 12 month low of $18.09 and a 12 month high of $24.89. The company has a market capitalization of $267.03, a P/E ratio of 12.67 and a beta of 0.85.
The firm also recently announced a quarterly dividend, which was paid on Friday, January 12th. Shareholders of record on Tuesday, January 2nd were issued a dividend of $0.35 per share. The ex-dividend date was Friday, December 29th. This represents a $1.40 dividend on an annualized basis and a yield of 7.57%. Jernigan Capital’s dividend payout ratio is currently 95.89%.
A number of hedge funds have recently made changes to their positions in JCAP. D.A. Davidson & CO. purchased a new stake in Jernigan Capital during the second quarter valued at approximately $102,000. Nationwide Fund Advisors purchased a new stake in Jernigan Capital during the second quarter valued at approximately $119,000. The Manufacturers Life Insurance Company purchased a new stake in Jernigan Capital during the second quarter valued at approximately $175,000. American International Group Inc. increased its holdings in Jernigan Capital by 51.2% during the third quarter. American International Group Inc. now owns 8,687 shares of the real estate investment trust’s stock valued at $179,000 after buying an additional 2,943 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Jernigan Capital by 2,347.8% during the third quarter. JPMorgan Chase & Co. now owns 8,763 shares of the real estate investment trust’s stock valued at $180,000 after buying an additional 8,405 shares during the last quarter. 69.59% of the stock is owned by institutional investors and hedge funds.
Several research analysts have recently issued reports on JCAP shares. Jefferies Group reiterated a “hold” rating and issued a $22.00 target price (down previously from $23.00) on shares of Jernigan Capital in a research note on Tuesday, September 26th. BidaskClub upgraded shares of Jernigan Capital from a “sell” rating to a “hold” rating in a research note on Saturday, September 30th. FBR & Co set a $25.00 price objective on shares of Jernigan Capital and gave the company a “buy” rating in a research report on Friday, October 13th. Zacks Investment Research upgraded shares of Jernigan Capital from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a research report on Tuesday, October 17th. Finally, KeyCorp assumed coverage on shares of Jernigan Capital in a research report on Thursday, October 19th. They set an “overweight” rating and a $24.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $24.17.
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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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