Maltese Capital Management LLC Decreases Stake in Jernigan Capital, Inc. $JCAP

Maltese Capital Management LLC lowered its stake in Jernigan Capital, Inc. (NASDAQ:JCAP) by 35.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 231,630 shares of the real estate investment trust’s stock after selling 124,536 shares during the period. Maltese Capital Management LLC’s holdings in Jernigan Capital were worth $5,175,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in JCAP. Wellington Management Group LLP purchased a new position in shares of Jernigan Capital in the third quarter worth $19,017,000. Adage Capital Partners GP L.L.C. purchased a new position in shares of Jernigan Capital in the second quarter worth $15,277,000. Nantahala Capital Management LLC purchased a new position in shares of Jernigan Capital in the second quarter worth $11,070,000. Vanguard Group Inc. raised its holdings in shares of Jernigan Capital by 665.2% in the third quarter. Vanguard Group Inc. now owns 573,931 shares of the real estate investment trust’s stock worth $9,906,000 after buying an additional 498,931 shares during the last quarter. Finally, William Blair Investment Management LLC raised its holdings in shares of Jernigan Capital by 54.0% in the third quarter. William Blair Investment Management LLC now owns 1,394,142 shares of the real estate investment trust’s stock worth $24,063,000 after buying an additional 489,142 shares during the last quarter.

Jernigan Capital Price Performance

Shares of Jernigan Capital stock opened at $16.32 on Tuesday. The firm has a fifty day moving average price of $18.65 and a 200 day moving average price of $20.40. Jernigan Capital, Inc. has a 1 year low of $15.50 and a 1 year high of $23.80. The stock has a market cap of $904.45 million and a PE ratio of 6.30.

Jernigan Capital (NASDAQ:JCAP) last issued its earnings results on Thursday, March 12th. The real estate investment trust reported $0.69 earnings per share (EPS) for the quarter. Jernigan Capital had a net margin of 25.42% and a return on equity of 38.63%. The firm had revenue of $154.80 million during the quarter. As a group, equities analysts expect that Jernigan Capital, Inc. will post 2.53 EPS for the current year.

Jernigan Capital Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Tuesday, May 26th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 5.9%. The ex-dividend date of this dividend was Tuesday, May 26th. Jernigan Capital’s dividend payout ratio (DPR) is 37.07%.

Wall Street Analysts Forecast Growth

JCAP has been the subject of a number of research analyst reports. Weiss Ratings cut shares of Jernigan Capital from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, June 3rd. Zacks Research cut shares of Jernigan Capital from a “hold” rating to a “strong sell” rating in a report on Monday, June 1st. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $25.20.

About Jernigan Capital

Jernigan Capital 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 with a view to eventual outright ownership of facilities the Company finances. The Company's mission is to maximize shareholder value by accumulating a multi-billion dollar investment portfolio consisting of the newest, most attractive and best located self-storage facilities in the United States through a talented and experienced team demonstrating the highest levels of integrity, dedication, excellence and community.