$3.46 Million in Sales Expected for Jernigan Capital, Inc. (JCAP) This Quarter
Wall Street analysts expect that Jernigan Capital, Inc. (NYSE:JCAP) will report $3.46 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Jernigan Capital’s earnings, with the lowest sales estimate coming in at $3.12 million and the highest estimate coming in at $3.90 million. Jernigan Capital reported sales of $1.70 million during the same quarter last year, which indicates a positive year-over-year growth rate of 103.5%. The business is scheduled to issue its next quarterly earnings report after the market closes on Wednesday, November 1st.
On average, analysts expect that Jernigan Capital will report full year sales of $3.46 million for the current fiscal year, with estimates ranging from $11.71 million to $13.99 million. For the next financial year, analysts forecast that the company will post sales of $27.69 million per share, with estimates ranging from $25.58 million to $30.88 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Jernigan Capital.
Jernigan Capital (NYSE:JCAP) last released its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $0.50 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.12. The firm had revenue of $3.10 million during the quarter, compared to analysts’ expectations of $2.53 million. Jernigan Capital had a return on equity of 9.37% and a net margin of 185.96%. Jernigan Capital’s revenue was down 3.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.99 earnings per share.
A number of equities research analysts have recently issued reports on JCAP shares. TheStreet raised Jernigan Capital from a “c+” rating to a “b” rating in a research report on Monday, June 26th. FBR & Co reaffirmed a “buy” rating and set a $25.00 target price on shares of Jernigan Capital in a research report on Thursday, September 14th. BidaskClub raised Jernigan Capital from a “hold” rating to a “buy” rating in a research report on Thursday, July 20th. ValuEngine lowered Jernigan Capital from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 1st. Finally, Zacks Investment Research raised Jernigan Capital from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research report on Tuesday, October 17th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $24.20.
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Jernigan Capital (NYSE:JCAP) traded down 0.97% on Monday, reaching $21.39. The company’s stock had a trading volume of 60,435 shares. The firm has a market capitalization of $300.21 million, a P/E ratio of 11.46 and a beta of 0.89. Jernigan Capital has a 52-week low of $17.01 and a 52-week high of $24.89. The firm has a 50-day moving average price of $20.38 and a 200 day moving average price of $21.57.
The company also recently announced a quarterly dividend, which was paid on Friday, October 13th. Shareholders of record on Monday, October 2nd were paid a $0.35 dividend. The ex-dividend date of this dividend was Friday, September 29th. This represents a $1.40 dividend on an annualized basis and a yield of 6.48%. Jernigan Capital’s dividend payout ratio (DPR) is currently 69.65%.
In other news, insider John A. Good bought 5,000 shares of the stock in a transaction on Monday, August 7th. The shares were purchased at an average price of $21.65 per share, for a total transaction of $108,250.00. Following the completion of the purchase, the insider now directly owns 217,308 shares of the company’s stock, valued at approximately $4,704,718.20. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Howard A. Silver bought 2,481 shares of the stock in a transaction on Friday, August 11th. The stock was purchased at an average price of $20.15 per share, for a total transaction of $49,992.15. Following the purchase, the director now directly owns 15,704 shares of the company’s stock, valued at $316,435.60. The disclosure for this purchase can be found here. Insiders acquired 10,600 shares of company stock worth $222,416 in the last 90 days. Corporate insiders own 3.18% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. D.A. Davidson & CO. purchased a new position in Jernigan Capital in the second quarter valued at about $102,000. Nationwide Fund Advisors bought a new stake in shares of Jernigan Capital during the 2nd quarter worth about $119,000. UBS Group AG boosted its stake in shares of Jernigan Capital by 226.1% during the 1st quarter. UBS Group AG now owns 6,966 shares of the real estate investment trust’s stock worth $160,000 after acquiring an additional 4,830 shares in the last quarter. The Manufacturers Life Insurance Company bought a new stake in shares of Jernigan Capital during the 2nd quarter worth about $175,000. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Jernigan Capital by 1,579.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 9,458 shares of the real estate investment trust’s stock worth $208,000 after acquiring an additional 8,895 shares in the last quarter. Hedge funds and other institutional investors own 60.64% 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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