Geode Capital Management LLC grew its holdings in Jernigan Capital, Inc. (NYSE:JCAP) by 20.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 40,831 shares of the real estate investment trust’s stock after acquiring an additional 7,008 shares during the period. Geode Capital Management LLC owned 0.46% of Jernigan Capital worth $940,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Uniplan Investment Counsel Inc. purchased a new position in Jernigan Capital during the first quarter valued at $4,007,000. JPMorgan Chase & Co. grew its stake in shares of Jernigan Capital by 17.3% in the 1st quarter. JPMorgan Chase & Co. now owns 43,769 shares of the real estate investment trust’s stock worth $1,008,000 after buying an additional 6,458 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Jernigan Capital by 3.5% in the 1st quarter. Bank of New York Mellon Corp now owns 33,448 shares of the real estate investment trust’s stock worth $771,000 after buying an additional 1,138 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Jernigan Capital by 7.3% in the 1st quarter. Vanguard Group Inc. now owns 315,974 shares of the real estate investment trust’s stock worth $7,280,000 after buying an additional 21,631 shares in the last quarter. Finally, Segantii Capital Management Ltd grew its stake in shares of Jernigan Capital by 581.3% in the 1st quarter. Segantii Capital Management Ltd now owns 10,900 shares of the real estate investment trust’s stock worth $251,000 after buying an additional 9,300 shares in the last quarter. Hedge funds and other institutional investors own 60.64% of the company’s stock.
In other news, Director James D. Dondero bought 100,000 shares of the company’s stock in a transaction dated Tuesday, June 27th. The stock was bought at an average price of $22.00 per share, for a total transaction of $2,200,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John A. Good acquired 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The shares were bought at an average cost of $21.65 per share, with a total value of $108,250.00. Following the completion of the purchase, the insider now owns 217,308 shares of the company’s stock, valued at $4,704,718.20. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 110,600 shares of company stock valued at $2,422,416. Corporate insiders own 3.18% of the company’s stock.
Shares of Jernigan Capital, Inc. (NYSE:JCAP) remained flat at $19.92 during midday trading on Friday. 72,147 shares of the stock traded hands. The stock has a 50-day moving average price of $19.67 and a 200-day moving average price of $21.03. Jernigan Capital, Inc. has a one year low of $16.03 and a one year high of $23.18. The company has a market capitalization of $279.58 million, a price-to-earnings ratio of 10.68 and a beta of 0.86.
Jernigan Capital (NYSE:JCAP) last announced its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $0.50 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.12. Jernigan Capital had a return on equity of 9.37% and a net margin of 185.96%. The company had revenue of $3.10 million for the quarter, compared to analyst estimates of $2.53 million. During the same quarter last year, the firm earned $0.99 EPS. Jernigan Capital’s revenue for the quarter was down 3.7% compared to the same quarter last year. Analysts expect that Jernigan Capital, Inc. will post $1.60 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Monday, October 2nd will be given a $0.35 dividend. The ex-dividend date of this dividend is Friday, September 29th. This represents a $1.40 annualized dividend and a yield of 7.03%. Jernigan Capital’s payout ratio is 69.65%.
JCAP has been the subject of a number of recent analyst reports. Raymond James Financial, Inc. reiterated an “outperform” rating and set a $26.00 price objective (up previously from $25.00) on shares of Jernigan Capital in a report on Wednesday, June 28th. BidaskClub upgraded shares of Jernigan Capital from a “hold” rating to a “buy” rating in a report on Thursday, July 20th. ValuEngine lowered shares of Jernigan Capital from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 1st. TheStreet downgraded shares of Jernigan Capital from a “b” rating to a “c” rating in a research report on Monday, August 21st. Finally, FBR & Co reissued a “buy” rating and set a $25.00 target price on shares of Jernigan Capital in a research report on Thursday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $25.00.
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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