Jernigan Capital (NASDAQ:JCAP) Downgraded to Strong Sell Rating by Zacks Research

Zacks Research downgraded shares of Jernigan Capital (NASDAQ:JCAP) from a hold rating to a strong sell rating in a research report sent to investors on Thursday,Zacks.com reports.

Other analysts have also issued reports about the stock. Truist Financial upped their price target on shares of Jernigan Capital from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, August 14th. Weiss Ratings downgraded shares of Jernigan Capital from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, June 3rd. Raymond James Financial boosted their price objective on shares of Jernigan Capital from $21.00 to $24.00 and gave the stock an “outperform” rating in a research note on Friday, August 14th. Finally, Citizens Jmp upped their target price on shares of Jernigan Capital from $26.00 to $28.00 and gave the company a “market outperform” rating in a report on Friday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $27.50.

Jernigan Capital Stock Down 2.8%

NASDAQ:JCAP opened at $21.09 on Thursday. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of 8.61 and a beta of -0.16. Jernigan Capital has a twelve month low of $15.50 and a twelve month high of $24.44. The stock’s 50 day moving average price is $20.16 and its two-hundred day moving average price is $19.66.

Jernigan Capital (NASDAQ:JCAP) last announced its quarterly earnings data on Thursday, August 13th. The real estate investment trust reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.14. Jernigan Capital had a return on equity of 35.87% and a net margin of 23.50%.The company had revenue of $177.54 million for the quarter. As a group, analysts anticipate that Jernigan Capital will post 2.39 earnings per share for the current year.

Jernigan Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Monday, August 24th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, August 24th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.6%. Jernigan Capital’s payout ratio is presently 39.18%.

Institutional Investors Weigh In On Jernigan Capital

Several hedge funds have recently added to or reduced their stakes in the business. New York State Common Retirement Fund bought a new position in Jernigan Capital during the fourth quarter worth $34,000. Quarry LP acquired a new stake in shares of Jernigan Capital during the 3rd quarter worth about $38,000. BNP Paribas Financial Markets bought a new stake in shares of Jernigan Capital during the 3rd quarter worth about $60,000. Police & Firemen s Retirement System of New Jersey grew its stake in Jernigan Capital by 133.1% in the 4th quarter. Police & Firemen s Retirement System of New Jersey now owns 3,364 shares of the real estate investment trust’s stock valued at $75,000 after buying an additional 1,921 shares during the last quarter. Finally, Assetmark Inc. raised its holdings in Jernigan Capital by 100.8% in the 1st quarter. Assetmark Inc. now owns 4,072 shares of the real estate investment trust’s stock valued at $78,000 after acquiring an additional 2,044 shares during the period.

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.