Jernigan Capital Inc (JCAP) Expected to Post Quarterly Sales of $9.27 Million

Brokerages expect that Jernigan Capital Inc (NYSE:JCAP) will report sales of $9.27 million for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Jernigan Capital’s earnings, with the highest sales estimate coming in at $9.42 million and the lowest estimate coming in at $9.12 million. Jernigan Capital reported sales of $5.22 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 77.6%. The firm is expected to announce its next quarterly earnings report on Wednesday, May 1st.

On average, analysts expect that Jernigan Capital will report full-year sales of $39.99 million for the current year, with estimates ranging from $37.22 million to $42.76 million. For the next fiscal year, analysts expect that the company will report sales of $50.37 million, with estimates ranging from $39.14 million to $61.55 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Jernigan Capital.

A number of research analysts recently commented on the company. Zacks Investment Research cut Jernigan Capital from a “hold” rating to a “sell” rating in a report on Friday, December 14th. Raymond James boosted their price target on shares of Jernigan Capital from $22.00 to $24.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 11th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Jernigan Capital currently has an average rating of “Buy” and an average target price of $24.00.

A number of hedge funds have recently modified their holdings of JCAP. Shoals Capital Management LP purchased a new stake in shares of Jernigan Capital in the 4th quarter worth approximately $11,397,000. BlackRock Inc. raised its position in shares of Jernigan Capital by 44.7% in the 3rd quarter. BlackRock Inc. now owns 1,654,018 shares of the real estate investment trust’s stock worth $31,906,000 after acquiring an additional 511,154 shares in the last quarter. Peregrine Capital Management LLC lifted its stake in shares of Jernigan Capital by 308.7% during the 4th quarter. Peregrine Capital Management LLC now owns 408,856 shares of the real estate investment trust’s stock worth $8,104,000 after purchasing an additional 308,822 shares during the last quarter. Vanguard Group Inc lifted its stake in shares of Jernigan Capital by 19.1% during the 3rd quarter. Vanguard Group Inc now owns 964,384 shares of the real estate investment trust’s stock worth $18,603,000 after purchasing an additional 154,457 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Jernigan Capital by 19.1% during the 3rd quarter. Vanguard Group Inc. now owns 964,384 shares of the real estate investment trust’s stock worth $18,603,000 after purchasing an additional 154,457 shares during the last quarter. Institutional investors and hedge funds own 72.14% of the company’s stock.

Shares of NYSE:JCAP traded up $0.11 during trading on Wednesday, hitting $21.54. 190,843 shares of the company’s stock were exchanged, compared to its average volume of 133,014. The stock has a market capitalization of $439.32 million, a P/E ratio of 10.36 and a beta of 0.57. Jernigan Capital has a 52-week low of $17.57 and a 52-week high of $22.05.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Monday, April 1st will be issued a dividend of $0.35 per share. The ex-dividend date is Friday, March 29th. This represents a $1.40 dividend on an annualized basis and a yield of 6.50%. Jernigan Capital’s payout ratio is 67.31%.

About Jernigan Capital

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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Earnings History and Estimates for Jernigan Capital (NYSE:JCAP)

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