Jernigan Capital, Inc. (NASDAQ:JCAP) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Jernigan Capital, Inc. (NASDAQ:JCAP) have received an average rating of “Buy” from the seven ratings firms that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $25.20.

Several brokerages recently issued reports on JCAP. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $28.00 target price on shares of Jernigan Capital in a report on Wednesday, December 24th. Texas Capital upgraded shares of Jernigan Capital to a “strong-buy” rating in a report on Tuesday, February 10th. Finally, Zacks Research upgraded shares of Jernigan Capital from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 17th.

Insiders Place Their Bets

In other Jernigan Capital news, insider David M. Burton sold 385,000 shares of the stock in a transaction that occurred on Friday, January 9th. The shares were sold at an average price of $20.50, for a total value of $7,892,500.00. Following the transaction, the insider directly owned 3,392,500 shares in the company, valued at approximately $69,546,250. This trade represents a 10.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.89% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Hsbc Holdings PLC bought a new position in Jernigan Capital in the fourth quarter worth approximately $344,000. NewEdge Advisors LLC bought a new position in Jernigan Capital in the fourth quarter worth approximately $156,000. Wellington Management Group LLP raised its position in Jernigan Capital by 64.9% in the fourth quarter. Wellington Management Group LLP now owns 1,817,039 shares of the real estate investment trust’s stock worth $40,593,000 after acquiring an additional 715,258 shares during the period. Millennium Management LLC raised its position in Jernigan Capital by 512.4% in the fourth quarter. Millennium Management LLC now owns 181,929 shares of the real estate investment trust’s stock worth $4,064,000 after acquiring an additional 152,223 shares during the period. Finally, Balyasny Asset Management L.P. bought a new position in Jernigan Capital in the fourth quarter worth approximately $276,000. 77.54% of the stock is currently owned by institutional investors.

Jernigan Capital Stock Performance

Shares of JCAP traded up $0.16 during mid-day trading on Thursday, hitting $19.77. 12,805 shares of the company traded hands, compared to its average volume of 378,457. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.30 and a current ratio of 0.30. The stock has a 50-day moving average price of $17.23 and a two-hundred day moving average price of $15.98. Jernigan Capital has a 1 year low of $15.98 and a 1 year high of $23.80. The stock has a market cap of $1.09 billion, a price-to-earnings ratio of -8.14 and a beta of 1.15.

Jernigan Capital Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 2nd. Shareholders of record on Tuesday, March 24th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date of this dividend was Tuesday, March 24th. Jernigan Capital’s dividend payout ratio is currently 45.07%.

About Jernigan Capital

Jernigan Capital 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 with a view to eventual outright ownership of facilities the Company finances. The Company's mission is to maximize shareholder value by accumulating a multi-billion dollar investment portfolio consisting of the newest, most attractive and best located self-storage facilities in the United States through a talented and experienced team demonstrating the highest levels of integrity, dedication, excellence and community.