Several other brokerages have also issued reports on JCAP. Jefferies Financial Group upgraded Jernigan Capital from a hold rating to a buy rating and boosted their price target for the company from $20.00 to $23.00 in a research note on Thursday, September 27th. ValuEngine upgraded Jernigan Capital from a sell rating to a hold rating in a research note on Tuesday, October 9th. Finally, Zacks Investment Research lowered Jernigan Capital from a hold rating to a sell rating in a research note on Thursday, October 11th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $23.25.
Jernigan Capital stock opened at $19.82 on Tuesday. The stock has a market capitalization of $377.23 million, a PE ratio of 18.35 and a beta of 0.56. Jernigan Capital has a 52 week low of $15.90 and a 52 week high of $21.02.
The company also recently declared a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Monday, October 1st were paid a dividend of $0.35 per share. The ex-dividend date was Friday, September 28th. This represents a $1.40 annualized dividend and a yield of 7.06%. Jernigan Capital’s dividend payout ratio is 129.63%.
In related news, insider John A. Good acquired 1,595 shares of the firm’s stock in a transaction on Friday, August 3rd. The shares were bought at an average cost of $18.53 per share, with a total value of $29,555.35. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 2.40% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Northern Trust Corp boosted its holdings in shares of Jernigan Capital by 3.3% in the 1st quarter. Northern Trust Corp now owns 150,312 shares of the real estate investment trust’s stock worth $2,721,000 after acquiring an additional 4,761 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Jernigan Capital by 230.4% in the 1st quarter. Russell Investments Group Ltd. now owns 40,380 shares of the real estate investment trust’s stock worth $731,000 after acquiring an additional 28,160 shares in the last quarter. Stifel Financial Corp boosted its holdings in shares of Jernigan Capital by 21.3% in the 1st quarter. Stifel Financial Corp now owns 25,298 shares of the real estate investment trust’s stock worth $459,000 after acquiring an additional 4,438 shares in the last quarter. Barclays PLC lifted its holdings in Jernigan Capital by 108.8% during the 1st quarter. Barclays PLC now owns 14,547 shares of the real estate investment trust’s stock worth $263,000 after buying an additional 7,581 shares in the last quarter. Finally, Manning & Napier Group LLC acquired a new position in Jernigan Capital during the 2nd quarter worth $2,710,000. 67.90% of the stock is currently owned by institutional investors.
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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