North Reef Capital Management LP Boosts Stake in Jernigan Capital, Inc. $JCAP

Key Points

• North Reef Capital Management increased its stake in Jernigan Capital by 122.2% in the first quarter, buying 292,678 additional shares and bringing its total to 532,151 shares worth about $10.23 million.
• Jernigan Capital’s stock rose 3.6% to open at $19.82, and the company currently has a market cap of $1.22 billion and a price-to-earnings ratio of 7.65.
• The REIT recently paid a $0.24 quarterly dividend, equal to an annualized yield of 4.8%, while analysts maintain a Moderate Buy rating with an average price target of $27.00.

North Reef Capital Management LP grew its holdings in Jernigan Capital, Inc. (NASDAQ:JCAP - Free Report) by 122.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 532,151 shares of the real estate investment trust's stock after purchasing an additional 292,678 shares during the period. North Reef Capital Management LP owned approximately 0.86% of Jernigan Capital worth $10,233,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of JCAP. New York State Common Retirement Fund purchased a new stake in Jernigan Capital in the 4th quarter valued at about $34,000. Quarry LP acquired a new stake in shares of Jernigan Capital during the third quarter valued at about $38,000. Police & Firemen s Retirement System of New Jersey increased its position in shares of Jernigan Capital by 133.1% during the fourth 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 acquiring an additional 1,921 shares during the last quarter. BNP Paribas Financial Markets purchased a new stake in shares of Jernigan Capital in the 3rd quarter valued at approximately $60,000. Finally, Assetmark Inc. raised its stake in shares of 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.

Jernigan Capital Stock Up 3.6%

Jernigan Capital stock opened at $19.82 on Friday. Jernigan Capital, Inc. has a 52-week low of $15.50 and a 52-week high of $23.80. The firm has a market cap of $1.22 billion and a PE ratio of 7.65. The company's 50 day moving average is $17.80 and its two-hundred day moving average is $19.76.

Jernigan Capital (NASDAQ:JCAP - Get Free Report) last posted its quarterly earnings results on Thursday, March 12th. The real estate investment trust reported $0.69 EPS for the quarter. Jernigan Capital had a net margin of 25.42% and a return on equity of 38.63%. The business had revenue of $154.80 million during the quarter. On average, equities research analysts anticipate that Jernigan Capital, Inc. will post 2.53 earnings per share for the current fiscal year.

Jernigan Capital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Tuesday, May 26th were issued a $0.24 dividend. The ex-dividend date was Tuesday, May 26th. This represents a $0.96 dividend on an annualized basis and a yield of 4.8%. Jernigan Capital's dividend payout ratio (DPR) is 37.07%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Weiss Ratings downgraded shares of Jernigan Capital from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday, June 3rd. Zacks Research upgraded Jernigan Capital from a "strong sell" rating to a "hold" rating in a research report on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Jernigan Capital currently has an average rating of "Moderate Buy" and an average price target of $27.00.

Jernigan Capital Profile

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.

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