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

Key Points

• JCAP fell below its 200-day moving average of $19.97, trading as low as $19.54 and last at $19.83.
• Analysts’ consensus remained “Moderate Buy,” with a $27.50 average price target, though recent rating changes included downgrades to Hold.
• The REIT reported quarterly EPS of $0.77, beating the $0.63 estimate, and paid a $0.24 quarterly dividend, equivalent to a 4.8% yield.

Jernigan Capital, Inc. (NASDAQ:JCAP - Get Free Report) shares passed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $19.97 and traded as low as $19.54. Jernigan Capital shares last traded at $19.83, with a volume of 299,319 shares.

Analyst Ratings Changes

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

Jernigan Capital Stock Performance

The business has a 50 day moving average of $20.32 and a two-hundred day moving average of $19.97. The stock has a market capitalization of $1.14 billion, a PE ratio of 8.09 and a beta of -0.05.

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

Jernigan Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Investors of record on Monday, August 24th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend was Monday, August 24th. Jernigan Capital's payout ratio is currently 39.18%.

Hedge Funds Weigh In On Jernigan Capital

Several hedge funds have recently made changes to their positions in the business. William Blair Investment Management LLC increased its holdings in Jernigan Capital by 16.1% during the third quarter. William Blair Investment Management LLC now owns 2,096,691 shares of the real estate investment trust's stock valued at $40,005,000 after buying an additional 290,026 shares during the period. State of Wyoming acquired a new stake in Jernigan Capital in the third quarter valued at approximately $65,000. Sterling Capital Management LLC grew its position in shares of Jernigan Capital by 6,630.8% during the 3rd quarter. Sterling Capital Management LLC now owns 14,000 shares of the real estate investment trust's stock worth $267,000 after buying an additional 13,792 shares during the period. Nisa Investment Advisors LLC increased its position in 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 buying an additional 3,110 shares during the period. Finally, State of Alaska Department of Revenue bought a new stake in Jernigan Capital in the third quarter valued at $41,000.

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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