Cubist Systematic Strategies LLC boosted its stake in Jernigan Capital Inc (NYSE:JCAP) by 79.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,361 shares of the real estate investment trust’s stock after buying an additional 9,913 shares during the quarter. Cubist Systematic Strategies LLC owned approximately 0.16% of Jernigan Capital worth $460,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Uniplan Investment Counsel Inc. lifted its stake in Jernigan Capital by 212.5% in the 2nd quarter. Uniplan Investment Counsel Inc. now owns 543,540 shares of the real estate investment trust’s stock valued at $11,414,000 after buying an additional 369,588 shares in the last quarter. TIAA CREF Investment Management LLC purchased a new position in Jernigan Capital in the 2nd quarter valued at about $537,000. First Allied Advisory Services Inc. purchased a new position in Jernigan Capital in the 3rd quarter valued at about $508,000. Raymond James Financial Services Advisors Inc. lifted its stake in Jernigan Capital by 25.8% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 26,967 shares of the real estate investment trust’s stock valued at $593,000 after buying an additional 5,527 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. purchased a new position in Jernigan Capital in the 2nd quarter valued at about $348,000. 69.59% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts recently weighed in on the stock. B. Riley reaffirmed a “buy” rating on shares of Jernigan Capital in a research note on Wednesday, November 1st. Zacks Investment Research raised shares of Jernigan Capital from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research note on Monday, October 23rd. BidaskClub raised shares of Jernigan Capital from a “hold” rating to a “buy” rating in a research note on Monday, October 23rd. FBR & Co set a $25.00 price target on shares of Jernigan Capital and gave the company a “buy” rating in a research note on Friday, October 13th. Finally, ValuEngine raised shares of Jernigan Capital from a “hold” rating to a “buy” rating in a research note on Monday, November 6th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $24.17.
Jernigan Capital Inc (NYSE:JCAP) opened at $18.50 on Friday. Jernigan Capital Inc has a 12 month low of $18.09 and a 12 month high of $24.89. The firm has a market cap of $263.41 and a P/E ratio of 12.85.
The firm also recently announced a quarterly dividend, which was paid on Friday, January 12th. Shareholders of record on Tuesday, January 2nd were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 7.57%. The ex-dividend date was Friday, December 29th. Jernigan Capital’s dividend payout ratio (DPR) is 97.22%.
In other news, Director James D. Dondero sold 48,900 shares of the firm’s stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $20.21, for a total transaction of $988,269.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director James D. Dondero sold 23,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 28th. The stock was sold at an average price of $19.27, for a total transaction of $443,210.00. The disclosure for this sale can be found here. Company insiders own 3.18% of the company’s stock.
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Jernigan Capital Company 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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