Jernigan Capital (NASDAQ:JCAP) Share Price Passes Above 50-Day Moving Average - What's Next?

Key Points

• Jernigan Capital shares passed above its 50-day moving average, trading as high as $21.23 and last at $20.87 (50-day $20.27; 200-day $20.79), signaling short-term technical strength.
• Analysts hold a consensus rating of “Moderate Buy” with a consensus price target of $25.20 (1 Strong Buy, 5 Buy, 2 Hold).
• The company pays a quarterly dividend of $0.24 (annualized $0.96), representing a 4.6% yield and a dividend payout ratio of 45.07%.

Jernigan Capital, Inc. (NASDAQ:JCAP - Get Free Report) shares passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $20.27 and traded as high as $21.23. Jernigan Capital shares last traded at $20.87, with a volume of 245,260 shares trading hands.

Wall Street Analysts Forecast Growth

JCAP has been the topic of a number of research analyst reports. Texas Capital raised Jernigan Capital to a "strong-buy" rating in a report on Tuesday, February 10th. Zacks Research upgraded Jernigan Capital from a "strong sell" rating to a "hold" rating in a research report on Tuesday, February 17th. Finally, Weiss Ratings lowered Jernigan Capital from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $25.20.

Jernigan Capital Stock Up 0.6%

The firm has a market cap of $1.29 billion and a price-to-earnings ratio of 9.80. The company has a 50-day moving average price of $20.27 and a 200 day moving average price of $20.79.

Jernigan Capital (NASDAQ:JCAP - Get Free Report) last issued its earnings results on Thursday, March 12th. The real estate investment trust reported $0.69 EPS for the quarter. The business had revenue of $154.80 million during the quarter. Equities analysts forecast that Jernigan Capital, Inc. will post 2.8 EPS for the current year.

Jernigan Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 2nd. Investors of record on Tuesday, March 24th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 4.6%. The ex-dividend date was Tuesday, March 24th. Jernigan Capital's dividend payout ratio (DPR) is currently 45.07%.

Institutional Trading of Jernigan Capital

Several hedge funds and other institutional investors have recently modified their holdings of the company. Wellington Management Group LLP raised its holdings in shares of Jernigan Capital by 64.9% during the fourth quarter. Wellington Management Group LLP now owns 1,817,039 shares of the real estate investment trust's stock worth $40,593,000 after acquiring an additional 715,258 shares in the last quarter. William Blair Investment Management LLC increased its stake in shares of Jernigan Capital by 6.5% in 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 purchasing an additional 89,967 shares during the period. Adage Capital Partners GP L.L.C. increased its stake in shares of Jernigan Capital by 5.6% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,287,509 shares of the real estate investment trust's stock worth $28,763,000 after purchasing an additional 68,341 shares during the period. Principal Financial Group Inc. increased its stake in shares of Jernigan Capital by 5.2% in the third quarter. Principal Financial Group Inc. now owns 771,049 shares of the real estate investment trust's stock worth $13,308,000 after purchasing an additional 37,972 shares during the period. Finally, Nantahala Capital Management LLC acquired a new stake in Jernigan Capital during the second quarter worth about $11,070,000.

About Jernigan Capital

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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