Jernigan Capital (JCAP) Upgraded at ValuEngine

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ValuEngine upgraded shares of Jernigan Capital (NYSE:JCAP) from a sell rating to a hold rating in a report released on Tuesday.

A number of other brokerages also recently commented on JCAP. Zacks Investment Research downgraded Jernigan Capital from a buy rating to a hold rating in a research report on Tuesday, June 12th. Jefferies Financial Group upgraded Jernigan Capital from a hold rating to a buy rating and lifted their price objective for the stock from $20.00 to $23.00 in a research report on Thursday, September 27th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $23.60.

Jernigan Capital stock traded down $0.32 during trading on Tuesday, reaching $18.95. 220,554 shares of the company were exchanged, compared to its average volume of 158,034. Jernigan Capital has a 52-week low of $15.90 and a 52-week high of $21.74. The company has a market cap of $373.55 million, a price-to-earnings ratio of 17.55 and a beta of 0.56.

Jernigan Capital (NYSE:JCAP) last announced its quarterly earnings data on Tuesday, July 31st. The real estate investment trust reported $0.59 EPS for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.11. Jernigan Capital had a return on equity of 9.18% and a net margin of 120.18%. The firm had revenue of $7.24 million for the quarter, compared to the consensus estimate of $6.99 million. Equities analysts predict that Jernigan Capital will post 2.68 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Monday, October 1st will be given a $0.35 dividend. The ex-dividend date of this dividend is Friday, September 28th. This represents a $1.40 dividend on an annualized basis and a yield of 7.39%. Jernigan Capital’s dividend payout ratio is currently 129.63%.

In other Jernigan Capital news, insider John A. Good bought 1,595 shares of Jernigan Capital stock in a transaction on Friday, August 3rd. The shares were bought at an average price of $18.53 per share, for a total transaction of $29,555.35. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.40% of the stock is owned by insiders.

Large investors have recently bought and sold shares of the business. Cannell Capital LLC raised its position in Jernigan Capital by 4.3% in the second quarter. Cannell Capital LLC now owns 99,990 shares of the real estate investment trust’s stock valued at $1,906,000 after purchasing an additional 4,150 shares during the period. Raymond James Financial Services Advisors Inc. purchased a new stake in Jernigan Capital in the second quarter valued at $329,000. EJF Capital LLC purchased a new stake in Jernigan Capital in the second quarter valued at $381,000. Third Avenue Management LLC purchased a new stake in Jernigan Capital in the second quarter valued at $477,000. Finally, Highland Capital Management LP raised its position in Jernigan Capital by 65.9% in the second quarter. Highland Capital Management LP now owns 582,513 shares of the real estate investment trust’s stock valued at $11,103,000 after purchasing an additional 231,359 shares during the period. Institutional investors own 67.06% of the company’s stock.

About Jernigan Capital

Jernigan Capital, Inc is a New York Stock Exchange-listed real estate investment trust (NYSE: JCAP) that provides debt and equity capital to private developers, owners, and operators of self-storage facilities. Our mission is to be the preeminent capital partner for self-storage entrepreneurs nationwide by offering creative solutions through an experienced team demonstrating the highest levels of integrity, dedication, excellence and community, while maximizing shareholder value.

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