Zacks: Analysts Anticipate Jernigan Capital Inc (JCAP) Will Announce Quarterly Sales of $8.42 Million

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Wall Street analysts expect Jernigan Capital Inc (NYSE:JCAP) to report sales of $8.42 million for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Jernigan Capital’s earnings. The highest sales estimate is $8.89 million and the lowest is $8.21 million. Jernigan Capital reported sales of $3.36 million in the same quarter last year, which indicates a positive year over year growth rate of 150.6%. The company is expected to issue its next earnings results on Wednesday, November 7th.

On average, analysts expect that Jernigan Capital will report full year sales of $30.85 million for the current year, with estimates ranging from $29.74 million to $32.57 million. For the next fiscal year, analysts expect that the firm will post sales of $51.47 million per share, with estimates ranging from $41.94 million to $58.09 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Jernigan Capital.

Jernigan Capital (NYSE:JCAP) last released its quarterly earnings data on Tuesday, July 31st. The real estate investment trust reported $0.59 EPS for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.11. The company had revenue of $7.24 million during the quarter, compared to the consensus estimate of $6.99 million. Jernigan Capital had a net margin of 120.18% and a return on equity of 9.18%.

Several research firms have recently weighed in on JCAP. ValuEngine cut shares of Jernigan Capital from a “hold” rating to a “sell” rating in a research note on Friday. TheStreet raised shares of Jernigan Capital from a “c+” rating to a “b-” rating in a research note on Friday, June 8th. Finally, Zacks Investment Research cut shares of Jernigan Capital from a “buy” rating to a “hold” rating in a research note on Tuesday, June 12th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. Jernigan Capital presently has an average rating of “Hold” and a consensus price target of $23.40.

Shares of Jernigan Capital stock traded up $0.07 during mid-day trading on Tuesday, hitting $19.37. The stock had a trading volume of 4,136 shares, compared to its average volume of 158,282. Jernigan Capital has a 12-month low of $15.90 and a 12-month high of $21.74. The stock has a market cap of $372.19 million, a price-to-earnings ratio of 17.88 and a beta of 0.56.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Monday, October 1st will be paid a $0.35 dividend. The ex-dividend date of this dividend is Friday, September 28th. This represents a $1.40 annualized dividend and a dividend yield of 7.23%. Jernigan Capital’s dividend payout ratio (DPR) is 129.63%.

In other news, insider John A. Good purchased 1,595 shares of the company’s stock in a transaction dated Friday, August 3rd. The stock was acquired at an average price of $18.53 per share, with a total value of $29,555.35. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 3.18% of the company’s stock.

Several large investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its position in shares of Jernigan Capital by 7.0% during the 2nd quarter. BlackRock Inc. now owns 1,142,864 shares of the real estate investment trust’s stock worth $21,782,000 after purchasing an additional 74,364 shares during the period. Highland Capital Management LP boosted its position in shares of Jernigan Capital by 65.9% during the 2nd quarter. Highland Capital Management LP now owns 582,513 shares of the real estate investment trust’s stock worth $11,103,000 after purchasing an additional 231,359 shares during the period. Real Estate Management Services LLC purchased a new position in shares of Jernigan Capital during the 2nd quarter worth approximately $10,754,000. Phocas Financial Corp. boosted its position in shares of Jernigan Capital by 2,099.4% during the 2nd quarter. Phocas Financial Corp. now owns 532,898 shares of the real estate investment trust’s stock worth $10,157,000 after purchasing an additional 508,669 shares during the period. Finally, Ranger Global Real Estate Advisors LLC lifted its holdings in Jernigan Capital by 1.6% during the 1st quarter. Ranger Global Real Estate Advisors LLC now owns 495,755 shares of the real estate investment trust’s stock worth $8,973,000 after buying an additional 7,736 shares in the last quarter. 67.06% of the stock is owned by hedge funds and other institutional investors.

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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