Zacks Investment Research downgraded shares of Jernigan Capital (NYSE:JCAP) from a hold rating to a sell rating in a research note released on Tuesday.
According to Zacks, “Jernigan Capital, Inc. is a commercial real estate finance company which provides financing to private developers, owners and operators of self-storage facilities. The company offers solutions for the ground-up construction of self-storage facilities or self-storage redevelopment opportunities as well as for the acquisition of, refinancing of existing indebtedness on, recapitalization of stabilized self-storage facilities. Jernigan Capital, Inc. is based in MIAMI, United States. “
Several other research analysts have also weighed in on the stock. B. Riley set a $25.00 price objective on shares of Jernigan Capital and gave the stock a buy rating in a research note on Tuesday, December 5th. ValuEngine raised shares of Jernigan Capital from a hold rating to a buy rating in a research note on Monday, November 6th. Robert W. Baird reissued a buy rating on shares of Jernigan Capital in a research note on Friday, November 3rd. TheStreet lowered shares of Jernigan Capital from a b- rating to a c rating in a research note on Friday, November 10th. Finally, KeyCorp started coverage on shares of Jernigan Capital in a research note on Thursday, October 19th. They set an overweight rating and a $24.00 price objective on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $24.17.
Jernigan Capital (NYSE:JCAP) last issued its quarterly earnings results on Wednesday, November 1st. The real estate investment trust reported $0.33 EPS for the quarter, topping the consensus estimate of $0.25 by $0.08. Jernigan Capital had a net margin of 151.13% and a return on equity of 7.44%. equities research analysts predict that Jernigan Capital will post 1.06 EPS for the current fiscal year.
The business also recently declared 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 7.62%. The ex-dividend date of this dividend was Friday, December 29th. Jernigan Capital’s payout ratio is currently 97.22%.
In other news, Director James D. Dondero sold 48,900 shares of the business’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $20.21, for a total value of $988,269.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director James D. Dondero sold 23,000 shares of the business’s stock in a transaction 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. Insiders own 3.18% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Neuberger Berman Group LLC bought a new stake in shares of Jernigan Capital in the third quarter worth $261,000. Cubist Systematic Strategies LLC lifted its position in shares of Jernigan Capital by 79.6% in the third quarter. Cubist Systematic Strategies LLC now owns 22,361 shares of the real estate investment trust’s stock worth $460,000 after purchasing an additional 9,913 shares in the last quarter. First Allied Advisory Services Inc. bought a new stake in shares of Jernigan Capital in the third quarter worth $508,000. First Republic Investment Management Inc. bought a new stake in shares of Jernigan Capital in the third quarter worth $234,000. Finally, Uniplan Investment Counsel Inc. lifted its position in shares of Jernigan Capital by 18.8% in the third quarter. Uniplan Investment Counsel Inc. now owns 645,887 shares of the real estate investment trust’s stock worth $13,272,000 after purchasing an additional 102,347 shares in the last quarter. 69.59% of the stock is currently owned by institutional investors and hedge funds.
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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