Principal Financial Group Inc. Increases Stake in Jernigan Capital, Inc. $JCAP

Key Points

• Principal Financial Group nearly doubled its stake in Jernigan Capital, boosting its holdings by 98.8% in the first quarter to 1.54 million shares, worth about $29.6 million.
• The stock was trading at $19.54, with a 52-week range of $15.50 to $23.80 and a market cap of about $1.2 billion. Jernigan Capital recently reported quarterly EPS of $0.69 and revenue of $154.8 million.
• The company paid a quarterly dividend of $0.24, annualizing to $0.96 and a yield of 4.9%. Analysts currently rate the stock a consensus “Moderate Buy” with an average target price of $25.20.

Principal Financial Group Inc. raised its position in Jernigan Capital, Inc. (NASDAQ:JCAP - Free Report) by 98.8% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,537,054 shares of the real estate investment trust's stock after acquiring an additional 763,766 shares during the period. Principal Financial Group Inc. owned approximately 2.49% of Jernigan Capital worth $29,558,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. William Blair Investment Management LLC increased its stake in shares of Jernigan Capital by 6.5% during the fourth quarter. William Blair Investment Management LLC now owns 1,484,109 shares of the real estate investment trust's stock worth $33,155,000 after acquiring an additional 89,967 shares during the period. State Street Corp lifted its position in Jernigan Capital by 55.4% in the fourth quarter. State Street Corp now owns 179,953 shares of the real estate investment trust's stock valued at $4,020,000 after purchasing an additional 64,132 shares during the period. Jane Street Group LLC purchased a new stake in Jernigan Capital in the 2nd quarter valued at approximately $1,480,000. Norges Bank purchased a new stake in Jernigan Capital in the 2nd quarter valued at approximately $554,000. Finally, Man Group plc acquired a new position in Jernigan Capital during the 3rd quarter worth approximately $483,000.

Jernigan Capital Price Performance

Shares of JCAP opened at $19.54 on Monday. Jernigan Capital, Inc. has a 52-week low of $15.50 and a 52-week high of $23.80. The company has a 50-day simple moving average of $17.74 and a 200-day simple moving average of $19.86. The company has a market capitalization of $1.20 billion and a PE ratio of 7.54.

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

Jernigan Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Tuesday, May 26th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date of this dividend was Tuesday, May 26th. Jernigan Capital's dividend payout ratio is presently 37.07%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on JCAP shares. Weiss Ratings downgraded Jernigan Capital from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday, June 3rd. Zacks Research upgraded Jernigan Capital from a "strong sell" rating to a "hold" rating in a research note on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, Jernigan Capital currently has a consensus rating of "Moderate Buy" and an average target price of $25.20.

Jernigan Capital Company 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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