Jernigan Capital Inc (NYSE:JCAP) announced a quarterly dividend on Monday, November 6th, Wall Street Journal reports. Shareholders of record on Tuesday, January 2nd will be given a dividend of 0.35 per share by the real estate investment trust on Friday, January 12th. This represents a $1.40 annualized dividend and a yield of 7.26%. The ex-dividend date of this dividend is Friday, December 29th.

Jernigan Capital has a payout ratio of 132.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Jernigan Capital to earn $2.74 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 51.1%.

Shares of Jernigan Capital (NYSE:JCAP) opened at $19.29 on Friday. Jernigan Capital has a 12 month low of $18.55 and a 12 month high of $24.89. The firm has a market capitalization of $274.66 and a price-to-earnings ratio of 13.40.

In related news, Director James D. Dondero sold 48,900 shares of the stock in a transaction on Friday, November 17th. The stock was sold at an average price of $20.21, for a total value of $988,269.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.18% of the stock is currently owned by corporate insiders.

An institutional investor recently bought a new position in Jernigan Capital stock. The Manufacturers Life Insurance Company purchased a new position in shares of Jernigan Capital Inc (NYSE:JCAP) in the second quarter, according to its most recent filing with the SEC. The firm purchased 7,942 shares of the real estate investment trust’s stock, valued at approximately $175,000. The Manufacturers Life Insurance Company owned 0.06% of Jernigan Capital at the end of the most recent quarter. 69.59% of the stock is owned by institutional investors and hedge funds.

A number of brokerages have recently commented on JCAP. B. Riley reiterated a “buy” rating on shares of Jernigan Capital in a research note on Wednesday, November 1st. Jefferies Group reiterated a “hold” rating and issued a $22.00 price target (down from $23.00) on shares of Jernigan Capital in a research note on Tuesday, September 26th. BidaskClub upgraded Jernigan Capital from a “sell” rating to a “hold” rating in a research note on Saturday, September 30th. FBR & Co reiterated a “buy” rating and issued a $25.00 price target on shares of Jernigan Capital in a research note on Thursday, September 14th. Finally, ValuEngine cut Jernigan Capital from a “buy” rating to a “hold” rating in a research note on Thursday, November 30th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Jernigan Capital currently has a consensus rating of “Buy” and a consensus price target of $24.17.

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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.

Dividend History for Jernigan Capital (NYSE:JCAP)

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