Jernigan Capital (NASDAQ:JCAP) Shares Cross Below Two Hundred Day Moving Average - Should You Sell?

Key Points

• Jernigan Capital shares fell below their 200-day moving average, trading as low as $19.97 versus the $20.07 average, and last changing hands at $20.04.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $27.50, despite recent upgrades and downgrades.
• The REIT exceeded quarterly earnings expectations, reporting $0.77 per share versus $0.63 forecast, and pays an annualized dividend of $0.96, yielding approximately 4.8%.

Jernigan Capital, Inc. (NASDAQ:JCAP - Get Free Report)'s share price passed below its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of $20.07 and traded as low as $19.97. Jernigan Capital shares last traded at $20.04, with a volume of 218,836 shares.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Raymond James Financial raised their target price on shares of Jernigan Capital from $21.00 to $24.00 and gave the company an "outperform" rating in a research report on Friday, August 14th. Citizens Jmp boosted their price target on shares of Jernigan Capital from $26.00 to $28.00 and gave the company a "market outperform" rating in a report on Friday, August 14th. Truist Financial upped their price target 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. Zacks Research upgraded shares of Jernigan Capital from a "strong sell" rating to a "hold" rating in a research note on Friday, October 23rd. Finally, Weiss Ratings downgraded shares of Jernigan Capital from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, October 16th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $27.50.

Jernigan Capital Trading Down 0.5%

The stock has a market capitalization of $1.15 billion, a P/E ratio of 8.18 and a beta of -0.02. The company has a 50-day moving average price of $20.67 and a 200 day moving average price of $20.07.

Jernigan Capital (NASDAQ:JCAP - Get Free Report) last issued its quarterly earnings data on Thursday, August 13th. The real estate investment trust reported $0.77 earnings per share for the quarter, topping analysts' consensus estimates of $0.63 by $0.14. The company had revenue of $177.54 million for the quarter. As a group, research 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 announced a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Monday, August 24th were issued a $0.24 dividend. The ex-dividend date was Monday, August 24th. This represents a $0.96 dividend on an annualized basis and a yield of 4.8%. Jernigan Capital's payout ratio is currently 39.18%.

Institutional Trading of Jernigan Capital

Several hedge funds have recently modified their holdings of JCAP. Assetmark Inc. boosted its holdings 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 buying an additional 2,044 shares in the last quarter. State of Alaska Department of Revenue bought a new position in shares of Jernigan Capital during the 3rd quarter worth approximately $41,000. Nisa Investment Advisors LLC raised its stake in shares of Jernigan Capital by 135.7% during the 3rd quarter. Nisa Investment Advisors LLC now owns 5,401 shares of the real estate investment trust's stock worth $103,000 after acquiring an additional 3,110 shares in the last quarter. WINTON GROUP Ltd bought a new position in shares of Jernigan Capital during the 2nd quarter worth approximately $211,000. Finally, Alyeska Investment Group L.P. lifted its position in Jernigan Capital by 4.6% during 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 acquiring an additional 11,246 shares during the last quarter.

Jernigan Capital Company Profile

Jernigan Capital, Inc was a real estate finance company focused on the self-storage industry. The company provided capital to developers and owners of self-storage properties, primarily through structured investments designed to support the development, acquisition, and expansion of storage facilities.

Its investment activities concentrated on self-storage projects in major and high-growth markets across the United States. Jernigan Capital generally sought to participate in the value created through the development and operation of these properties rather than operating a broad portfolio of unrelated real estate assets.

The company was associated with self-storage executive Dean Jernigan, who served as its chief executive officer.

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