UBS Group AG boosted its stake in shares of Jernigan Capital, Inc. (NYSE:JCAP) by 226.1% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,966 shares of the real estate investment trust’s stock after buying an additional 4,830 shares during the period. UBS Group AG’s holdings in Jernigan Capital were worth $160,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in the stock. Bank of New York Mellon Corp raised its position in shares of Jernigan Capital by 3.5% in the first quarter. Bank of New York Mellon Corp now owns 33,448 shares of the real estate investment trust’s stock worth $771,000 after buying an additional 1,138 shares during the period. JPMorgan Chase & Co. raised its position in shares of Jernigan Capital by 17.3% in the first quarter. JPMorgan Chase & Co. now owns 43,769 shares of the real estate investment trust’s stock worth $1,008,000 after buying an additional 6,458 shares during the period. Geode Capital Management LLC raised its position in shares of Jernigan Capital by 20.7% in the first quarter. Geode Capital Management LLC now owns 40,831 shares of the real estate investment trust’s stock worth $940,000 after buying an additional 7,008 shares during the period. Segantii Capital Management Ltd raised its position in shares of Jernigan Capital by 581.3% in the first quarter. Segantii Capital Management Ltd now owns 10,900 shares of the real estate investment trust’s stock worth $251,000 after buying an additional 9,300 shares during the period. Finally, Menta Capital LLC acquired a new position in shares of Jernigan Capital during the first quarter worth about $438,000. Hedge funds and other institutional investors own 40.85% of the company’s stock.
Shares of Jernigan Capital, Inc. (NYSE:JCAP) traded down 0.70% during trading on Thursday, reaching $21.33. The company’s stock had a trading volume of 3,176 shares. The company’s 50-day moving average is $21.84 and its 200-day moving average is $22.26. Jernigan Capital, Inc. has a 12 month low of $16.00 and a 12 month high of $24.89. The company has a market capitalization of $210.10 million, a P/E ratio of 11.43 and a beta of 0.84.
Jernigan Capital (NYSE:JCAP) last issued its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.12. The business had revenue of $3.10 million during the quarter, compared to analyst estimates of $2.53 million. Jernigan Capital had a net margin of 185.96% and a return on equity of 11.47%. Jernigan Capital’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.99 earnings per share. On average, analysts forecast that Jernigan Capital, Inc. will post $1.73 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Monday, October 2nd will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 6.52%. The ex-dividend date is Friday, September 29th. Jernigan Capital’s dividend payout ratio is currently 69.65%.
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A number of brokerages recently issued reports on JCAP. Jefferies Group LLC began coverage on Jernigan Capital in a report on Monday, April 24th. They issued a “hold” rating and a $25.00 price objective for the company. TheStreet raised Jernigan Capital from a “c+” rating to a “b” rating in a report on Monday, June 26th. 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 report on Wednesday, June 28th. FBR & Co reissued a “buy” rating on shares of Jernigan Capital in a report on Monday, May 15th. Finally, Zacks Investment Research lowered Jernigan Capital from a “hold” rating to a “strong sell” rating in a report on Thursday, July 6th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $25.00.
In related news, Director James D. Dondero purchased 100,000 shares of the stock in a transaction that occurred on Tuesday, June 27th. The stock was acquired at an average price of $22.00 per share, with a total value of $2,200,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider John A. Good purchased 5,000 shares of the stock in a transaction that occurred on Monday, August 7th. The stock was bought at an average cost of $21.65 per share, with a total value of $108,250.00. Following the acquisition, the insider now owns 217,308 shares of the company’s stock, valued at $4,704,718.20. The disclosure for this purchase can be found here. Company insiders own 3.18% of the company’s stock.
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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