Jernigan Capital (JCAP) Cut to “Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of Jernigan Capital (NYSE:JCAP) from a hold rating to a sell rating in a research note released on Tuesday.

According to Zacks, “Jernigan Capital, Inc. is a commercial real estate finance company which provides financing to private developers, owners and operators of self-storage facilities. The company offers solutions for the ground-up construction of self-storage facilities or self-storage redevelopment opportunities as well as for the acquisition of, refinancing of existing indebtedness on, recapitalization of stabilized self-storage facilities. Jernigan Capital, Inc. is based in MIAMI, United States. “

JCAP has been the topic of several other research reports. B. Riley set a $25.00 price objective on Jernigan Capital and gave the stock a buy rating in a report on Friday, December 29th. Robert W. Baird restated a buy rating on shares of Jernigan Capital in a report on Friday, November 3rd. BidaskClub upgraded Jernigan Capital from a sell rating to a hold rating in a report on Tuesday, November 7th. KeyCorp started coverage on Jernigan Capital in a report on Thursday, October 19th. They set an overweight rating and a $24.00 price objective on the stock. Finally, ValuEngine cut Jernigan Capital from a buy rating to a hold rating in a report on Thursday, November 30th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $24.17.

Jernigan Capital (NYSE JCAP) opened at $18.30 on Tuesday. The firm has a market capitalization of $259.61, a price-to-earnings ratio of 12.29 and a beta of 0.85. Jernigan Capital has a 1 year low of $18.09 and a 1 year high of $24.89.

Jernigan Capital (NYSE:JCAP) last posted its quarterly earnings data on Wednesday, November 1st. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.08. Jernigan Capital had a return on equity of 7.44% and a net margin of 151.13%. analysts anticipate that Jernigan Capital will post 1.06 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 12th. Stockholders of record on Tuesday, January 2nd were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 7.65%. The ex-dividend date was Friday, December 29th. Jernigan Capital’s dividend payout ratio (DPR) is 95.89%.

In related news, Director James D. Dondero sold 23,000 shares of Jernigan Capital stock in a transaction on Thursday, December 28th. The stock was sold at an average price of $19.27, for a total value of $443,210.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director James D. Dondero sold 48,900 shares of Jernigan Capital stock in a transaction on Friday, November 17th. The shares were sold at an average price of $20.21, for a total value of $988,269.00. The disclosure for this sale can be found here. 3.18% of the stock is currently owned by company insiders.

A number of institutional investors have recently modified their holdings of JCAP. Chicago Equity Partners LLC acquired a new position in Jernigan Capital in the third quarter valued at $4,245,000. Vanguard Group Inc. boosted its holdings in Jernigan Capital by 42.2% in the second quarter. Vanguard Group Inc. now owns 449,406 shares of the real estate investment trust’s stock valued at $9,887,000 after acquiring an additional 133,432 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in Jernigan Capital by 2,282,420.0% in the third quarter. Wells Fargo & Company MN now owns 114,126 shares of the real estate investment trust’s stock valued at $2,345,000 after acquiring an additional 114,121 shares during the last quarter. State Street Corp acquired a new position in Jernigan Capital in the second quarter valued at $2,392,000. Finally, Uniplan Investment Counsel Inc. boosted its holdings in Jernigan Capital by 18.8% in the third quarter. Uniplan Investment Counsel Inc. now owns 645,887 shares of the real estate investment trust’s stock valued at $13,272,000 after acquiring an additional 102,347 shares during the last quarter. Hedge funds and other institutional investors own 69.59% of the company’s stock.

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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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