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

Zacks Investment Research cut shares of Jernigan Capital (NYSE:JCAP) from a hold rating to a sell rating in a report 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. “

A number of other research analysts have also recently commented on the company. B. Riley set a $25.00 price objective on Jernigan Capital and gave the stock a buy rating in a research note on Tuesday, December 5th. ValuEngine upgraded Jernigan Capital from a hold rating to a buy rating in a research note on Monday, November 6th. Robert W. Baird restated a buy rating on shares of Jernigan Capital in a research note on Friday, November 3rd. TheStreet cut Jernigan Capital from a b- rating to a c rating in a research note on Friday, November 10th. Finally, KeyCorp started coverage on Jernigan Capital in a research report on Thursday, October 19th. They set an overweight rating and a $24.00 target price on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $24.17.

Jernigan Capital (NYSE JCAP) opened at $18.30 on Tuesday. The company has a market capitalization of $259.61, a PE ratio of 12.29 and a beta of 0.85. Jernigan Capital has a one year low of $18.09 and a one year high of $24.89.

Jernigan Capital (NYSE:JCAP) last issued its quarterly earnings data on Wednesday, November 1st. The real estate investment trust reported $0.33 EPS for the quarter, topping the Zacks’ 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%. research analysts forecast that Jernigan Capital will post 1.06 earnings per share for the current fiscal year.

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

In related news, Director James D. Dondero sold 48,900 shares of the business’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $20.21, for a total value of $988,269.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director James D. Dondero sold 23,000 shares of the business’s stock in a transaction dated Thursday, December 28th. The shares were sold at an average price of $19.27, for a total value of $443,210.00. The disclosure for this sale can be found here. 3.18% of the stock is currently owned by insiders.

A number of hedge funds have recently modified their holdings of the business. Uniplan Investment Counsel Inc. boosted its stake 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 period. Vanguard Group Inc. boosted its stake 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 period. Northpointe Capital LLC boosted its stake in Jernigan Capital by 23.7% in the third quarter. Northpointe Capital LLC now owns 318,299 shares of the real estate investment trust’s stock valued at $6,541,000 after acquiring an additional 61,079 shares during the period. NFC Investments LLC boosted its stake in Jernigan Capital by 0.7% in the second quarter. NFC Investments LLC now owns 231,604 shares of the real estate investment trust’s stock valued at $5,095,000 after acquiring an additional 1,700 shares during the period. Finally, Chicago Equity Partners LLC acquired a new position in Jernigan Capital in the third quarter valued at approximately $4,245,000. 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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