Punch & Associates Investment Management Inc. Purchases Shares of 1,115,885 Jernigan Capital, Inc. $JCAP

Key Points

• Punch & Associates Investment Management bought a new stake of 1,115,885 shares in Jernigan Capital, worth about $21.46 million, and the position now makes up about 1.2% of its portfolio.
• Several other institutional investors also increased their holdings, including Principal Financial Group, which nearly doubled its position, and Sei Investments, which raised its stake by 170%.
• Jernigan Capital shares were up 3.6%, and the company reported quarterly EPS of $0.69 along with a $0.24 quarterly dividend, implying an annualized yield of 4.8%.

Punch & Associates Investment Management Inc. purchased a new stake in shares of Jernigan Capital, Inc. (NASDAQ:JCAP - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 1,115,885 shares of the real estate investment trust's stock, valued at approximately $21,458,000. Jernigan Capital comprises about 1.2% of Punch & Associates Investment Management Inc.'s portfolio, making the stock its 26th largest position. Punch & Associates Investment Management Inc. owned about 1.81% of Jernigan Capital as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Principal Financial Group Inc. grew its position in shares of Jernigan Capital by 98.8% in the 1st quarter. Principal Financial Group Inc. now owns 1,537,054 shares of the real estate investment trust's stock valued at $29,558,000 after buying an additional 763,766 shares during the last quarter. William Blair Investment Management LLC raised its position 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 last quarter. Sei Investments Co. raised its position in shares of Jernigan Capital by 170.0% during the first quarter. Sei Investments Co. now owns 52,502 shares of the real estate investment trust's stock worth $1,010,000 after acquiring an additional 33,055 shares during the last quarter. Swiss National Bank acquired a new position in shares of Jernigan Capital in the first quarter worth approximately $735,000. Finally, Assetmark Inc. lifted its stake in shares of Jernigan Capital by 100.8% in the first quarter. Assetmark Inc. now owns 4,072 shares of the real estate investment trust's stock worth $78,000 after acquiring an additional 2,044 shares during the period.

Jernigan Capital Stock Up 3.6%

Shares of NASDAQ JCAP opened at $19.82 on Friday. The firm has a market cap of $1.22 billion and a PE ratio of 7.65. The company's fifty day simple moving average is $17.80 and its 200 day simple moving average is $19.76. Jernigan Capital, Inc. has a 12-month low of $15.50 and a 12-month high of $23.80.

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 earnings per share for the quarter. Jernigan Capital had a net margin of 25.42% and a return on equity of 38.63%. The firm had revenue of $154.80 million during the quarter. On average, equities analysts predict that Jernigan Capital, Inc. will post 2.53 earnings per share for the current year.

Jernigan Capital Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on JCAP. Weiss Ratings downgraded shares of Jernigan Capital from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, June 3rd. Zacks Research raised shares of Jernigan Capital from a "strong sell" rating to a "hold" rating in a research note on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Jernigan Capital has an average rating of "Moderate Buy" and a consensus target price 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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