Jernigan Capital Inc (NYSE:JCAP) Plans $0.23 Quarterly Dividend

Jernigan Capital Inc (NYSE:JCAP) declared a quarterly dividend on Friday, May 8th, Zacks reports. Stockholders of record on Wednesday, July 1st will be paid a dividend of 0.23 per share by the real estate investment trust on Wednesday, July 15th. This represents a $0.92 annualized dividend and a dividend yield of 6.90%. The ex-dividend date of this dividend is Tuesday, June 30th.

Jernigan Capital has a payout ratio of -53.2% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Jernigan Capital to earn $0.54 per share next year, which means the company may not be able to cover its $0.92 annual dividend with an expected future payout ratio of 170.4%.

Shares of JCAP stock traded up $0.20 on Friday, hitting $13.34. The company had a trading volume of 377,358 shares, compared to its average volume of 280,320. The firm has a market cap of $310.45 million, a P/E ratio of -7.62 and a beta of 1.03. The company has a 50-day moving average price of $13.16 and a 200-day moving average price of $15.78. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.48. Jernigan Capital has a twelve month low of $8.83 and a twelve month high of $21.01.

Several brokerages have recently issued reports on JCAP. B. Riley reissued a “buy” rating and issued a $20.00 price objective on shares of Jernigan Capital in a report on Thursday, June 4th. ValuEngine raised Jernigan Capital from a “sell” rating to a “hold” rating in a report on Friday, May 8th. TheStreet cut Jernigan Capital from a “c” rating to a “d+” rating in a report on Friday, May 8th. KeyCorp cut their price target on Jernigan Capital from $23.00 to $17.00 and set an “overweight” rating for the company in a research note on Thursday, April 9th. Finally, Zacks Investment Research lowered Jernigan Capital from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $19.33.

In other Jernigan Capital news, CEO John A. Good purchased 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 31st. The stock was purchased at an average price of $10.40 per share, for a total transaction of $31,200.00. Following the purchase, the chief executive officer now directly owns 302,247 shares in the company, valued at $3,143,368.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last 90 days, insiders purchased 5,923 shares of company stock valued at $62,692. 2.89% of the stock is owned by company insiders.

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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Dividend History for Jernigan Capital (NYSE:JCAP)

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