RMR Advisors LLC trimmed its stake in shares of Jernigan Capital Inc (NYSE:JCAP) by 20.9% in the first quarter, HoldingsChannel.com reports. The fund owned 32,758 shares of the real estate investment trust’s stock after selling 8,663 shares during the quarter. RMR Advisors LLC’s holdings in Jernigan Capital were worth $689,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Loeb Partners Corp bought a new stake in shares of Jernigan Capital during the 4th quarter valued at $40,000. FCA Corp TX bought a new stake in shares of Jernigan Capital during the 4th quarter valued at $109,000. Spectrum Management Group Inc. bought a new stake in shares of Jernigan Capital during the 1st quarter valued at $126,000. Metropolitan Life Insurance Co. NY lifted its position in shares of Jernigan Capital by 569.9% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 6,873 shares of the real estate investment trust’s stock valued at $136,000 after acquiring an additional 5,847 shares during the period. Finally, Nisa Investment Advisors LLC bought a new stake in shares of Jernigan Capital during the 4th quarter valued at $224,000. Hedge funds and other institutional investors own 72.14% of the company’s stock.
Shares of JCAP stock traded down $0.15 on Wednesday, hitting $20.25. 1,582 shares of the company’s stock were exchanged, compared to its average volume of 136,950. Jernigan Capital Inc has a 12 month low of $17.91 and a 12 month high of $22.05. The company has a market cap of $413.08 million, a P/E ratio of 9.69 and a beta of 0.57.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Friday, March 29th. This represents a $1.40 annualized dividend and a dividend yield of 6.91%. Jernigan Capital’s dividend payout ratio is currently 67.31%.
Separately, Zacks Investment Research downgraded Jernigan Capital from a “buy” rating to a “hold” rating in a research report on Tuesday, March 26th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $24.00.
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.
Featured Story: How is inflation measured?
Want to see what other hedge funds are holding JCAP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Jernigan Capital Inc (NYSE:JCAP).
Receive News & Ratings for Jernigan Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Jernigan Capital and related companies with MarketBeat.com's FREE daily email newsletter.