Jernigan Capital (NASDAQ:JCAP) Stock Falls 5.5% - Time to Sell?

Key Points

• JCAP shares fell 5.5% to $19.67, while trading volume was about 98% below the average session volume.
• Analysts maintained a “Moderate Buy” consensus with a $27.50 average price target, despite recent rating changes that included downgrades to Hold.
• The company reported quarterly EPS of $0.77, beating the $0.63 consensus estimate, and paid a quarterly dividend of $0.24, equivalent to a 4.9% annualized yield.

Jernigan Capital, Inc. (NASDAQ:JCAP - Get Free Report)'s share price dropped 5.5% during trading on Monday. The stock traded as low as $19.67 and last traded at $19.67. Approximately 5,414 shares were traded during mid-day trading, a decline of 98% from the average session volume of 322,706 shares. The stock had previously closed at $20.82.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on JCAP shares. Weiss Ratings lowered Jernigan Capital from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, October 16th. 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 research note on Friday, August 14th. 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 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, Truist Financial upped their price target on shares of Jernigan Capital from $26.00 to $30.00 and gave the company a "buy" rating in a research note on Friday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Jernigan Capital has a consensus rating of "Moderate Buy" and a consensus price target of $27.50.

Jernigan Capital Trading Down 0.3%

The stock's fifty day moving average price is $20.32 and its 200 day moving average price is $19.97. The stock has a market cap of $1.14 billion, a P/E ratio of 8.07 and a beta of -0.05.

Jernigan Capital (NASDAQ:JCAP - Get Free Report) last posted its quarterly earnings results on Thursday, August 13th. The real estate investment trust reported $0.77 EPS for the quarter, topping 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 firm had revenue of $177.54 million for the quarter. On average, analysts anticipate that Jernigan Capital, Inc. will post 2.39 earnings per share for the current year.

Jernigan Capital Announces Dividend

The firm 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. The ex-dividend date of this dividend was Monday, August 24th. This represents a $0.96 annualized dividend and a yield of 4.9%. Jernigan Capital's dividend payout ratio is 39.18%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. William Blair Investment Management LLC raised 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 acquiring an additional 290,026 shares during the period. State of Wyoming purchased a new stake in shares of Jernigan Capital during the third quarter worth about $65,000. Sterling Capital Management LLC grew its position in shares of Jernigan Capital by 6,630.8% during the third quarter. Sterling Capital Management LLC now owns 14,000 shares of the real estate investment trust's stock worth $267,000 after purchasing an additional 13,792 shares in the last quarter. Nisa Investment Advisors LLC grew its position in shares of Jernigan Capital by 135.7% during the third quarter. Nisa Investment Advisors LLC now owns 5,401 shares of the real estate investment trust's stock worth $103,000 after purchasing an additional 3,110 shares in the last quarter. Finally, State of Alaska Department of Revenue bought a new stake in Jernigan Capital during the 3rd quarter valued at approximately $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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