Jernigan Capital Inc (NYSE:JCAP) declared a quarterly dividend on Friday, May 8th, Zacks reports. Shareholders of record on Wednesday, July 1st will be given a dividend of 0.23 per share by the real estate investment trust on Wednesday, July 15th. This represents a $0.92 dividend on an annualized basis and a yield of 6.90%. The ex-dividend date of this dividend is Tuesday, June 30th.
Jernigan Capital has a payout ratio of -53.2% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Jernigan Capital to earn $0.54 per share next year, which means the company may not be able to cover its $0.92 annual dividend with an expected future payout ratio of 170.4%.
Shares of JCAP stock opened at $13.34 on Monday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.16 and a current ratio of 0.16. Jernigan Capital has a one year low of $8.83 and a one year high of $21.01. The company’s 50-day simple moving average is $13.16 and its 200-day simple moving average is $15.78. The stock has a market capitalization of $310.44 million, a price-to-earnings ratio of -7.62 and a beta of 1.03.
Several equities research analysts have commented on the stock. TheStreet lowered shares of Jernigan Capital from a “c” rating to a “d+” rating in a research note on Friday, May 8th. ValuEngine upgraded shares of Jernigan Capital from a “sell” rating to a “hold” rating in a report on Friday, May 8th. Zacks Investment Research lowered shares of Jernigan Capital from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. KeyCorp decreased their price objective on shares of Jernigan Capital from $23.00 to $17.00 and set an “overweight” rating for the company in a research note on Thursday, April 9th. Finally, B. Riley reiterated a “buy” rating and issued a $20.00 target price on shares of Jernigan Capital in a research report on Thursday, June 4th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $19.33.
In other Jernigan Capital news, CEO John A. Good purchased 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 31st. The stock was acquired at an average cost of $10.40 per share, with a total value of $31,200.00. Following the completion of the purchase, the chief executive officer now directly owns 302,247 shares in the company, valued at approximately $3,143,368.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have purchased a total of 5,923 shares of company stock valued at $62,692 over the last three months. 2.89% of the stock is currently owned by insiders.
Jernigan Capital Company Profile
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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