Cubist Systematic Strategies LLC acquired a new stake in Jernigan Capital, Inc. (NYSE:JCAP) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 12,448 shares of the real estate investment trust’s stock, valued at approximately $274,000. Cubist Systematic Strategies LLC owned about 0.09% of Jernigan Capital at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of the stock. Forward Management LLC lifted its stake in Jernigan Capital by 174.3% in the 2nd 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 last quarter. Uniplan Investment Counsel Inc. lifted its stake in Jernigan Capital by 212.5% in the 2nd 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 last quarter. Ranger Global Real Estate Advisors LLC lifted its stake in Jernigan Capital by 201.8% in the 2nd 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 last quarter. Vanguard Group Inc. lifted its stake in Jernigan Capital by 42.2% in the 2nd 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 last quarter. Finally, Investment Counselors of Maryland LLC bought a new position in Jernigan Capital in the 2nd quarter valued at approximately $8,800,000. 60.38% of the stock is owned by institutional investors and hedge funds.
In related news, Director Howard A. Silver acquired 2,481 shares of the firm’s stock in a transaction on Friday, August 11th. The stock was acquired at an average cost of $20.15 per share, for a total transaction of $49,992.15. Following the acquisition, the director now owns 15,704 shares of the company’s stock, valued at $316,435.60. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Harry J. Thie acquired 1,650 shares of the firm’s stock in a transaction 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 completion of the acquisition, the director now directly owns 17,223 shares in the company, valued at approximately $365,988.75. The disclosure for this purchase can be found here. Insiders acquired a total of 10,600 shares of company stock valued at $222,416 over the last 90 days. Company insiders own 3.18% of the company’s stock.
Several equities analysts recently commented on the stock. Zacks Investment Research raised shares of Jernigan Capital from a “sell” rating to a “hold” rating in a research note on Thursday, August 17th. BidaskClub downgraded shares of Jernigan Capital from a “buy” rating to a “hold” rating in a research note on Tuesday. FBR & Co set a $25.00 price objective on shares of Jernigan Capital and gave the company a “buy” rating in a research note on Friday, October 13th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $22.00 price objective (down previously from $23.00) on shares of Jernigan Capital in a research note on Tuesday, September 26th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Jernigan Capital currently has an average rating of “Buy” and a consensus target price of $24.20.
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Jernigan Capital, Inc. (NYSE:JCAP) opened at 20.78 on Tuesday. The company has a market cap of $291.65 million, a P/E ratio of 11.14 and a beta of 0.88. The stock’s 50 day moving average is $20.61 and its 200 day moving average is $21.48. Jernigan Capital, Inc. has a 1-year low of $17.01 and a 1-year high of $24.89.
Jernigan Capital (NYSE:JCAP) last posted its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.50 EPS for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.12. Jernigan Capital had a net margin of 185.96% and a return on equity of 9.37%. The company had revenue of $3.10 million during the quarter, compared to analyst estimates of $2.53 million. During the same period in the prior year, the business posted $0.99 EPS. The firm’s revenue was down 3.7% compared to the same quarter last year. Equities analysts anticipate that Jernigan Capital, Inc. will post $1.61 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, October 13th. Investors of record on Monday, October 2nd were issued a dividend of $0.35 per share. The ex-dividend date was Friday, September 29th. This represents a $1.40 dividend on an annualized basis and a yield of 6.74%. Jernigan Capital’s dividend payout ratio is currently 69.65%.
Jernigan Capital 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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