Jernigan Capital Inc (NYSE:JCAP) – Analysts at B. Riley lowered their Q2 2018 earnings estimates for Jernigan Capital in a research note issued on Monday, June 11th. B. Riley analyst T. Hayes now forecasts that the real estate investment trust will post earnings of $0.50 per share for the quarter, down from their previous forecast of $0.93. B. Riley has a “Buy” rating and a $26.00 price objective on the stock. B. Riley also issued estimates for Jernigan Capital’s Q3 2018 earnings at $0.93 EPS, Q4 2018 earnings at $1.19 EPS and FY2018 earnings at $3.02 EPS.
Other analysts also recently issued research reports about the stock. TheStreet raised shares of Jernigan Capital from a “c+” rating to a “b-” rating in a report on Friday, June 8th. KeyCorp set a $22.00 price target on shares of Jernigan Capital and gave the stock a “buy” rating in a report on Tuesday, March 6th. Zacks Investment Research raised shares of Jernigan Capital from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a report on Wednesday, February 21st. Finally, ValuEngine downgraded shares of Jernigan Capital from a “hold” rating to a “sell” rating in a research note on Tuesday, May 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $23.83.
Jernigan Capital (NYSE:JCAP) last issued its quarterly earnings results on Wednesday, May 2nd. The real estate investment trust reported $0.12 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.13 by ($0.01). Jernigan Capital had a return on equity of 6.59% and a net margin of 118.85%. The firm had revenue of $5.22 million for the quarter, compared to the consensus estimate of $4.93 million.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 13th. Investors of record on Monday, July 2nd will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 7.35%. The ex-dividend date of this dividend is Friday, June 29th. Jernigan Capital’s payout ratio is 129.63%.
In related news, insider John A. Good acquired 2,110 shares of the company’s stock in a transaction that occurred on Monday, May 7th. The stock was acquired at an average price of $19.15 per share, with a total value of $40,406.50. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director James D. Dondero acquired 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 12th. The stock was bought at an average cost of $18.50 per share, with a total value of $1,850,000.00. The disclosure for this purchase can be found here. 2.40% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of JCAP. Sterling Capital Management LLC acquired a new position in Jernigan Capital in the 4th quarter valued at approximately $802,000. Tower Research Capital LLC TRC acquired a new position in Jernigan Capital in the 4th quarter valued at approximately $264,000. ArrowMark Colorado Holdings LLC increased its position in Jernigan Capital by 40.7% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 569,199 shares of the real estate investment trust’s stock valued at $10,820,000 after acquiring an additional 164,616 shares during the period. Ranger Global Real Estate Advisors LLC increased its position in Jernigan Capital by 3.2% in the 4th quarter. Ranger Global Real Estate Advisors LLC now owns 488,019 shares of the real estate investment trust’s stock valued at $9,277,000 after acquiring an additional 14,945 shares during the period. Finally, Raymond James & Associates increased its position in Jernigan Capital by 22.7% in the 4th quarter. Raymond James & Associates now owns 109,953 shares of the real estate investment trust’s stock valued at $2,090,000 after acquiring an additional 20,321 shares during the period. 70.25% of the stock is owned by institutional investors and hedge funds.
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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