TIAA CREF Investment Management LLC bought a new stake in shares of Jernigan Capital, Inc. (NYSE:JCAP) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 24,424 shares of the real estate investment trust’s stock, valued at approximately $537,000. TIAA CREF Investment Management LLC owned about 0.17% of Jernigan Capital as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also added to or reduced their stakes in JCAP. UBS Group AG grew its holdings in Jernigan Capital by 226.1% in the 1st quarter. UBS Group AG now owns 6,966 shares of the real estate investment trust’s stock worth $160,000 after acquiring an additional 4,830 shares during the last quarter. Rhumbline Advisers bought a new stake in Jernigan Capital in the 2nd quarter worth $224,000. Schwab Charles Investment Management Inc. bought a new stake in Jernigan Capital in the 2nd quarter worth $348,000. Teachers Advisors LLC bought a new stake in Jernigan Capital in the 2nd quarter worth $383,000. Finally, Monarch Partners Asset Management LLC grew its holdings in Jernigan Capital by 84.5% in the 2nd quarter. Monarch Partners Asset Management LLC now owns 23,970 shares of the real estate investment trust’s stock worth $527,000 after acquiring an additional 10,980 shares during the last quarter. 60.18% of the stock is currently owned by institutional investors.
Shares of Jernigan Capital, Inc. (NYSE:JCAP) opened at $20.15 on Friday. Jernigan Capital, Inc. has a 12-month low of $17.98 and a 12-month high of $24.89. The company has a market cap of $288.75 and a PE ratio of 13.55.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 12th. Stockholders of record on Tuesday, January 2nd will be given a $0.35 dividend. The ex-dividend date of this dividend is Friday, December 29th. This represents a $1.40 annualized dividend and a dividend yield of 6.95%. Jernigan Capital’s dividend payout ratio is 97.22%.
JCAP has been the topic of a number of recent analyst reports. FBR & Co reissued a “buy” rating and issued a $25.00 price target on shares of Jernigan Capital in a report on Thursday, September 14th. Zacks Investment Research raised shares of Jernigan Capital from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a report on Tuesday, October 17th. ValuEngine lowered shares of Jernigan Capital from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 1st. BidaskClub raised shares of Jernigan Capital from a “hold” rating to a “buy” rating in a report on Monday, October 23rd. Finally, Robert W. Baird reissued a “buy” rating on shares of Jernigan Capital in a report on Friday, November 3rd. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $24.33.
About Jernigan Capital
Jernigan Capital, Inc is a commercial real estate finance company. The Company provides capital to private developers, owners and operators of self-storage facilities. It intends to generate long-term returns on development property investments through a fixed rate of interest on its invested capital together with an interest in the positive cash flows of the self-storage development from operations, sales and/or refinancings.
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