Wall Street brokerages expect that Jernigan Capital Inc (NYSE:JCAP) will report $8.42 million in sales for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Jernigan Capital’s earnings, with the highest sales estimate coming in at $8.89 million and the lowest estimate coming in at $8.21 million. Jernigan Capital reported sales of $3.36 million in the same quarter last year, which indicates a positive year-over-year growth rate of 150.6%. The firm is expected to announce its next quarterly earnings report on Wednesday, November 7th.
On average, analysts expect that Jernigan Capital will report full-year sales of $30.85 million for the current year, with estimates ranging from $29.74 million to $32.57 million. For the next fiscal year, analysts anticipate that the company will post sales of $51.47 million per share, with estimates ranging from $41.94 million to $58.09 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Jernigan Capital.
Jernigan Capital (NYSE:JCAP) last posted its quarterly earnings data on Tuesday, July 31st. The real estate investment trust reported $0.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.11. The firm had revenue of $7.24 million during the quarter, compared to analysts’ expectations of $6.99 million. Jernigan Capital had a return on equity of 9.18% and a net margin of 120.18%.
A number of analysts have recently weighed in on the company. ValuEngine raised Jernigan Capital from a “sell” rating to a “hold” rating in a research report on Tuesday, August 28th. TheStreet raised Jernigan Capital from a “c+” rating to a “b-” rating in a research report on Friday, June 8th. Finally, Zacks Investment Research raised Jernigan Capital from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a research report on Saturday, June 9th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $23.40.
Shares of Jernigan Capital stock traded up $0.13 during trading on Friday, reaching $19.88. The company’s stock had a trading volume of 138,100 shares, compared to its average volume of 148,815. The stock has a market capitalization of $387.49 million, a price-to-earnings ratio of 18.43 and a beta of 0.56. Jernigan Capital has a 1-year low of $15.90 and a 1-year high of $21.74.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Monday, October 1st will be given a dividend of $0.35 per share. The ex-dividend date is Friday, September 28th. This represents a $1.40 dividend on an annualized basis and a yield of 7.04%. Jernigan Capital’s dividend payout ratio is currently 129.63%.
In other news, Director James D. Dondero purchased 100,000 shares of the stock in a transaction on Tuesday, June 12th. The stock was bought at an average price of $18.50 per share, with a total value of $1,850,000.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider John A. Good purchased 1,595 shares of the stock in a transaction on Friday, August 3rd. The shares were purchased at an average cost of $18.53 per share, with a total value of $29,555.35. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 102,935 shares of company stock valued at $1,904,520. 3.18% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of JCAP. Bank of Montreal Can acquired a new stake in Jernigan Capital during the 2nd quarter worth about $152,000. Macquarie Group Ltd. purchased a new position in shares of Jernigan Capital during the 2nd quarter valued at about $160,000. Citadel Advisors LLC purchased a new position in shares of Jernigan Capital during the 2nd quarter valued at about $257,000. Barclays PLC raised its stake in shares of Jernigan Capital by 108.8% during the 1st quarter. Barclays PLC now owns 14,547 shares of the real estate investment trust’s stock valued at $263,000 after buying an additional 7,581 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. purchased a new position in shares of Jernigan Capital during the 2nd quarter valued at about $329,000. 67.06% of the stock is owned by institutional investors.
Jernigan Capital Company Profile
Jernigan Capital, Inc 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. Our mission is to be the preeminent capital partner for self-storage entrepreneurs nationwide by offering creative solutions through an experienced team demonstrating the highest levels of integrity, dedication, excellence and community, while maximizing shareholder value.
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