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

Key Points

• Jernigan Capital shares rose above their 50-day moving average, reaching $21.08 before last trading at $20.53; the stock’s 200-day average was $19.57.
• Analyst sentiment was broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $27.50, despite one “Strong Sell” rating.
• The REIT exceeded quarterly earnings expectations, reporting $0.77 per share versus the $0.63 consensus estimate, and maintained a quarterly dividend of $0.24, equivalent to a 4.7% annual yield.

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 $20.89 and traded as high as $21.08. Jernigan Capital shares last traded at $20.53, with a volume of 136,167 shares trading hands.

Analyst Ratings Changes

JCAP has been the subject of a number of research analyst reports. Citizens Jmp upped their price objective on shares of Jernigan Capital from $26.00 to $28.00 and gave the company a "market outperform" rating in a research note on Friday, August 14th. Zacks Research lowered shares of Jernigan Capital from a "hold" rating to a "strong sell" rating in a report on Thursday, August 27th. Truist Financial raised their target price on shares of Jernigan Capital from $26.00 to $30.00 and gave the stock a "buy" rating in a research report on Friday, August 14th. Weiss Ratings upgraded shares of Jernigan Capital from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, October 2nd. Finally, Raymond James Financial upped their price target on shares of Jernigan Capital from $21.00 to $24.00 and gave the stock an "outperform" rating in a research report on Friday, August 14th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Jernigan Capital has an average rating of "Moderate Buy" and a consensus price target of $27.50.

Jernigan Capital Stock Performance

The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of 8.38 and a beta of -0.02. The business has a fifty day moving average price of $20.89 and a 200 day moving average price of $19.57.

Jernigan Capital (NASDAQ:JCAP - Get Free Report) last issued its earnings results on Thursday, August 13th. The real estate investment trust reported $0.77 earnings per share for the quarter, beating analysts' consensus estimates of $0.63 by $0.14. Jernigan Capital had a return on equity of 35.87% and a net margin of 23.50%. The firm had revenue of $177.54 million for the quarter. On average, analysts expect that Jernigan Capital, Inc. will post 2.39 earnings per share for the current year.

Jernigan Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Stockholders of record on Monday, August 24th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date was Monday, August 24th. Jernigan Capital's dividend payout ratio (DPR) is 39.18%.

Hedge Funds Weigh In On Jernigan Capital

Hedge funds and other institutional investors have recently modified their holdings of the company. Principal Financial Group Inc. grew its holdings in shares of Jernigan Capital by 98.8% during the 1st quarter. Principal Financial Group Inc. now owns 1,537,054 shares of the real estate investment trust's stock worth $29,558,000 after purchasing an additional 763,766 shares during the period. Punch & Associates Investment Management Inc. purchased a new position in Jernigan Capital in the first quarter valued at approximately $21,458,000. North Reef Capital Management LP raised its holdings in Jernigan Capital by 122.2% in the first quarter. North Reef Capital Management LP now owns 532,151 shares of the real estate investment trust's stock valued at $10,233,000 after buying an additional 292,678 shares during the period. Alyeska Investment Group L.P. raised its holdings in Jernigan Capital by 4.6% in the second quarter. Alyeska Investment Group L.P. now owns 258,318 shares of the real estate investment trust's stock valued at $5,029,000 after buying an additional 11,246 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in Jernigan Capital by 86.2% in the first quarter. Renaissance Technologies LLC now owns 178,032 shares of the real estate investment trust's stock valued at $3,424,000 after buying an additional 82,432 shares during the period.

About Jernigan Capital

Jernigan Capital, Inc was a real estate investment company focused on the self-storage industry. The company provided capital to self-storage developers and operators, primarily through structured investments intended to fund the development, redevelopment, acquisition and expansion of storage facilities.

Its investment activities included construction financing and equity-oriented investments in self-storage properties across the United States. Jernigan Capital generally sought to participate in the growth and value creation of these properties while maintaining exposure to the operating performance of the underlying facilities.

The company was founded by Dean Jernigan, a longtime self-storage industry executive, and was headquartered in Memphis, Tennessee.

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