Jernigan Capital (NASDAQ:JCAP) Shares Gap Down – Here’s Why

Jernigan Capital, Inc. (NASDAQ:JCAP)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $19.61, but opened at $18.76. Jernigan Capital shares last traded at $18.85, with a volume of 2,694 shares.

Analyst Ratings Changes

JCAP has been the topic of several research analyst reports. Zacks Research lowered shares of Jernigan Capital from a “hold” rating to a “strong sell” rating in a research note on Monday, June 1st. Weiss Ratings downgraded shares of Jernigan Capital from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, June 3rd. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $25.20.

Jernigan Capital Price Performance

The business’s 50-day moving average price is $18.09 and its 200-day moving average price is $20.11. The firm has a market capitalization of $1.03 billion and a PE ratio of 7.17.

Jernigan Capital (NASDAQ:JCAP) last released its quarterly earnings results on Thursday, March 12th. The real estate investment trust reported $0.69 EPS for the quarter. Jernigan Capital had a net margin of 25.42% and a return on equity of 38.63%. The firm had revenue of $154.80 million during the quarter. Equities analysts forecast that Jernigan Capital, Inc. will post 2.53 earnings per share for the current year.

Jernigan Capital Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Tuesday, May 26th were paid a dividend of $0.24 per share. The ex-dividend date was Tuesday, May 26th. This represents a $0.96 annualized dividend and a dividend yield of 5.2%. Jernigan Capital’s dividend payout ratio is 37.07%.

Hedge Funds Weigh In On Jernigan Capital

Several institutional investors have recently added to or reduced their stakes in JCAP. Bank of America Corp DE lifted its position in Jernigan Capital by 95.9% during the 1st quarter. Bank of America Corp DE now owns 58,859 shares of the real estate investment trust’s stock worth $1,132,000 after acquiring an additional 28,815 shares during the period. Janus Henderson Group PLC purchased a new stake in shares of Jernigan Capital during the first quarter worth approximately $266,000. North Reef Capital Management LP raised its stake in shares of Jernigan Capital by 122.2% during the first quarter. North Reef Capital Management LP now owns 532,151 shares of the real estate investment trust’s stock worth $10,233,000 after purchasing an additional 292,678 shares during the last quarter. Punch & Associates Investment Management Inc. acquired a new stake in shares of Jernigan Capital during the first quarter worth $21,458,000. Finally, Renaissance Technologies LLC lifted its holdings in shares of Jernigan Capital by 86.2% during the first quarter. Renaissance Technologies LLC now owns 178,032 shares of the real estate investment trust’s stock worth $3,424,000 after purchasing an additional 82,432 shares during the period.

About Jernigan Capital

Jernigan Capital 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 with a view to eventual outright ownership of facilities the Company finances. The Company's mission is to maximize shareholder value by accumulating a multi-billion dollar investment portfolio consisting of the newest, most attractive and best located self-storage facilities in the United States through a talented and experienced team demonstrating the highest levels of integrity, dedication, excellence and community.