Jernigan Capital, Inc. (JCAP) Shares Sold by Heartland Advisors Inc.
Heartland Advisors Inc. trimmed its holdings in shares of Jernigan Capital, Inc. (NYSE:JCAP) by 5.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 523,450 shares of the real estate investment trust’s stock after selling 30,950 shares during the period. Heartland Advisors Inc. owned approximately 3.73% of Jernigan Capital worth $10,757,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of the company. Forward Management LLC increased its holdings in shares of Jernigan Capital by 174.3% during the second quarter. Forward Management LLC now owns 1,440,000 shares of the real estate investment trust’s stock valued at $31,680,000 after purchasing an additional 915,000 shares during the period. Uniplan Investment Counsel Inc. increased its holdings in shares of Jernigan Capital by 212.5% during the second quarter. Uniplan Investment Counsel Inc. now owns 543,540 shares of the real estate investment trust’s stock valued at $11,414,000 after purchasing an additional 369,588 shares during the period. Ranger Global Real Estate Advisors LLC increased its holdings in shares of Jernigan Capital by 201.8% during the second quarter. Ranger Global Real Estate Advisors LLC now owns 494,961 shares of the real estate investment trust’s stock valued at $10,889,000 after purchasing an additional 330,936 shares during the period. Vanguard Group Inc. increased its holdings in shares of Jernigan Capital by 42.2% during 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 purchasing an additional 133,432 shares during the period. Finally, Investment Counselors of Maryland LLC acquired a new position in shares of Jernigan Capital during the second quarter valued at $8,800,000. 60.38% of the stock is currently owned by institutional investors.
Shares of Jernigan Capital, Inc. (JCAP) traded down 0.77% on Tuesday, reaching $20.62. The company had a trading volume of 10,597 shares. Jernigan Capital, Inc. has a one year low of $17.01 and a one year high of $24.89. The firm has a market cap of $289.40 million, a P/E ratio of 11.05 and a beta of 0.88. The company has a 50-day moving average price of $20.61 and a 200-day moving average price of $21.48.
Jernigan Capital (NYSE:JCAP) last released its earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.12. The company had revenue of $3.10 million during the quarter, compared to the consensus estimate of $2.53 million. Jernigan Capital had a return on equity of 9.37% and a net margin of 185.96%. The firm’s quarterly revenue was down 3.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.99 earnings per share. On average, analysts expect that Jernigan Capital, Inc. will post $1.61 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, October 13th. Stockholders of record on Monday, October 2nd were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Friday, September 29th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 6.74%. Jernigan Capital’s payout ratio is currently 69.65%.
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In related news, insider John A. Good acquired 5,000 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The stock was acquired at an average price of $21.65 per share, for a total transaction of $108,250.00. Following the completion of the acquisition, the insider now owns 217,308 shares of the company’s stock, valued at approximately $4,704,718.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Harry J. Thie acquired 1,650 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The stock was bought at an average price of $21.25 per share, with a total value of $35,062.50. Following the acquisition, the director now directly owns 17,223 shares of the company’s stock, valued at approximately $365,988.75. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 10,600 shares of company stock valued at $222,416. 3.18% of the stock is currently owned by corporate insiders.
Several brokerages recently weighed in on JCAP. Zacks Investment Research raised Jernigan Capital from a “sell” rating to a “hold” rating in a research note on Thursday, August 17th. BidaskClub cut Jernigan Capital from a “buy” rating to a “hold” rating in a research note on Tuesday. FBR & Co set a $25.00 target price on Jernigan Capital and gave the company a “buy” rating in a research note on Friday, October 13th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $22.00 target price (down previously from $23.00) on shares of Jernigan Capital in a research note on Tuesday, September 26th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $24.20.
Jernigan Capital Company Profile
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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