Insider Buying: Jernigan Capital, Inc. (JCAP) Director Buys 1,650 Shares of Stock
Jernigan Capital, Inc. (NYSE:JCAP) Director Harry J. Thie bought 1,650 shares of the stock in a transaction dated Thursday, August 10th. The stock was acquired at an average price of $21.25 per share, with a total value of $35,062.50. Following the completion of the purchase, the director now owns 17,223 shares of the company’s stock, valued at approximately $365,988.75. The acquisition was disclosed in a filing with the SEC, which is available through this link.
Shares of Jernigan Capital, Inc. (NYSE JCAP) traded down 1.44% during mid-day trading on Friday, reaching $20.57. The company had a trading volume of 204,819 shares. The firm’s 50-day moving average price is $21.74 and its 200 day moving average price is $22.25. The company has a market cap of $288.70 million, a price-to-earnings ratio of 11.02 and a beta of 0.84. Jernigan Capital, Inc. has a 52-week low of $16.00 and a 52-week high of $24.89.
Jernigan Capital (NYSE:JCAP) last released its earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.50 EPS for the quarter, topping the consensus estimate of $0.38 by $0.12. Jernigan Capital had a return on equity of 9.37% and a net margin of 185.96%. The business had revenue of $3.10 million during the quarter, compared to analysts’ expectations of $2.53 million. During the same quarter last year, the firm posted $0.99 earnings per share. The firm’s revenue was down 3.7% on a year-over-year basis. Equities analysts expect that Jernigan Capital, Inc. will post $1.73 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Monday, October 2nd will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, September 29th. This represents a $1.40 annualized dividend and a yield of 6.81%. Jernigan Capital’s dividend payout ratio is currently 69.65%.
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Large investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. acquired a new stake in Jernigan Capital during the first quarter valued at approximately $977,000. Citadel Advisors LLC boosted its stake in Jernigan Capital by 27.8% in the first quarter. Citadel Advisors LLC now owns 18,786 shares of the real estate investment trust’s stock valued at $433,000 after buying an additional 4,091 shares in the last quarter. Morgan Stanley boosted its stake in Jernigan Capital by 71.9% in the first quarter. Morgan Stanley now owns 80,475 shares of the real estate investment trust’s stock valued at $1,854,000 after buying an additional 33,669 shares in the last quarter. UBS Group AG boosted its stake in Jernigan Capital by 226.1% in the first quarter. UBS Group AG now owns 6,966 shares of the real estate investment trust’s stock valued at $160,000 after buying an additional 4,830 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in 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 valued at $940,000 after buying an additional 7,008 shares in the last quarter. 40.85% of the stock is owned by institutional investors and hedge funds.
A number of analysts have recently weighed in on JCAP shares. Jefferies Group LLC started coverage on Jernigan Capital in a research note on Monday, April 24th. They issued a “hold” rating and a $25.00 target price for the company. FBR & Co restated a “buy” rating on shares of Jernigan Capital in a research note on Friday, May 5th. Raymond James Financial, Inc. reiterated an “outperform” rating and issued a $26.00 price objective (up from $25.00) on shares of Jernigan Capital in a research report on Wednesday, June 28th. TheStreet upgraded Jernigan Capital from a “c+” rating to a “b” rating in a research report on Monday, June 26th. Finally, Zacks Investment Research lowered Jernigan Capital from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 6th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $25.00.
Jernigan Capital Company Profile
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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