NYSE:JCAP.PRB

Stock Analysis Report

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Executive Summary

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.


Snowflake Analysis

Unattractive dividend payer with limited growth.

Share Price & News

How has Jernigan Capital's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: JCAP.PRB's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

7.9%

JCAP.PRB

6.6%

US REITs

3.8%

US Market


1 Year Return

-2.9%

JCAP.PRB

-5.9%

US REITs

9.7%

US Market

Return vs Industry: JCAP.PRB exceeded the US REITs industry which returned -5.9% over the past year.

Return vs Market: JCAP.PRB underperformed the US Market which returned 9.7% over the past year.


Shareholder returns

JCAP.PRBIndustryMarket
7 Day7.9%6.6%3.8%
30 Day9.6%13.4%11.4%
90 Day0.2%-8.2%6.8%
1 Year4.1%-2.9%-2.0%-5.9%12.1%9.7%
3 Yearn/a18.5%3.9%36.2%27.2%
5 Yearn/a50.1%19.4%63.7%45.4%

Price Volatility Vs. Market

How volatile is Jernigan Capital's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Jernigan Capital undervalued compared to its fair value and its price relative to the market?

0.93x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: JCAP.PRB ($25.15) is trading above our estimate of fair value ($0.36)

Significantly Below Fair Value: JCAP.PRB is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: JCAP.PRB is unprofitable, so we can't compare its PE Ratio to the REITs industry average.

PE vs Market: JCAP.PRB is unprofitable, so we can't compare its PE Ratio to the US market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate JCAP.PRB's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: JCAP.PRB is good value based on its PB Ratio (0.9x) compared to the US REITs industry average (1.5x).


Next Steps

Future Growth

How is Jernigan Capital forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?

46.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: JCAP.PRB is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: JCAP.PRB is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: JCAP.PRB is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: JCAP.PRB's revenue (20.5% per year) is forecast to grow faster than the US market (8.7% per year).

High Growth Revenue: JCAP.PRB's revenue (20.5% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if JCAP.PRB's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Jernigan Capital performed over the past 5 years?

20.3%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: JCAP.PRB is currently unprofitable.

Growing Profit Margin: JCAP.PRB is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: JCAP.PRB is unprofitable, but has reduced losses over the past 5 years at a rate of 20.3% per year.

Accelerating Growth: Unable to compare JCAP.PRB's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: JCAP.PRB is unprofitable, making it difficult to compare its past year earnings growth to the REITs industry (5.2%).


Return on Equity

High ROE: JCAP.PRB has a negative Return on Equity (-3.85%), as it is currently unprofitable.


Next Steps

Financial Health

How is Jernigan Capital's financial position?


Financial Position Analysis

Short Term Liabilities: JCAP.PRB's short term assets ($15.5M) do not cover its short term liabilities ($18.5M).

Long Term Liabilities: JCAP.PRB's short term assets ($15.5M) do not cover its long term liabilities ($238.9M).


Debt to Equity History and Analysis

Debt Level: JCAP.PRB's debt to equity ratio (41.1%) is considered high.

Reducing Debt: Insufficient data to determine if JCAP.PRB's debt to equity ratio has reduced over the past 5 years.

Debt Coverage: JCAP.PRB's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: Insufficient data to determine if JCAP.PRB's interest payments on its debt are well covered by EBIT.


Balance Sheet


Next Steps

Dividend

What is Jernigan Capital's current dividend yield, its reliability and sustainability?

5.98%

Current Dividend Yield


Upcoming Dividend Payment


Dividend Yield vs Market

Notable Dividend: JCAP.PRB's dividend (5.98%) is higher than the bottom 25% of dividend payers in the US market (1.6%).

High Dividend: JCAP.PRB's dividend (5.98%) is in the top 25% of dividend payers in the US market (4.22%)


Stability and Growth of Payments

Stable Dividend: JCAP.PRB has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: JCAP.PRB has only been paying a dividend for 5 years, and since then payments have fallen.


Current Payout to Shareholders

Dividend Coverage: JCAP.PRB is paying a dividend but the company is unprofitable.


Future Payout to Shareholders

Future Dividend Coverage: JCAP.PRB's dividends in 3 years are not forecast to be well covered by earnings (153.4% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

1.9yrs

Average management tenure


CEO

John Good (61yo)

1.67yrs

Tenure

US$1,735,917

Compensation

Mr. John A. Good, J.D. serves as Chairman of the Board of Jernigan Capital, Inc. since December 31, 2019. He has been Chief Executive Officer since October 29, 2018 and Director of Jernigan Capital, Inc. J ...


CEO Compensation Analysis

Compensation vs Market: John's total compensation ($USD1.74M) is about average for companies of similar size in the US market ($USD2.13M).

Compensation vs Earnings: John's compensation has increased whilst the company is unprofitable.


Leadership Team

NamePositionTenureCompensationOwnership
John Good
Chairman of the Board & CEO1.67yrsUS$1.74m1.28% $4.5m
Jonathan Perry
President & Chief Investment Officer1.67yrsUS$1.25m0.27% $944.9k
Kelly Luttrell
Senior VP3.08yrsUS$728.32k0.15% $524.6k
David Corak
Senior Vice President of Corporate Finance2.25yrsno data0.10% $365.0k
William Perry
Senior Vice President of Investment Management1.92yrsno datano data

1.9yrs

Average Tenure

45yo

Average Age

Experienced Management: JCAP.PRB's management team is not considered experienced ( 1.9 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
John Good
Chairman of the Board & CEO1.67yrsUS$1.74m1.28% $4.5m
Richard Stern
Member of Advisory Boardno datano datano data
Carol Shipley
Member of Advisory Boardno datano datano data
Howard Silver
Independent Director5.33yrsUS$175.98k0.11% $390.7k
Harry Thie
Lead Independent Director5.42yrsUS$170.98k0.13% $475.6k
Mark Decker
Independent Director5.25yrsUS$150.98k0.13% $450.9k
Rebecca Owen
Independent Director1.5yrsUS$150.98k0.031% $108.8k
David Levenfeld
Member of Advisory Boardno datano datano data
Douglas Chamberlain
Member of Advisory Boardno datano datano data
Jesse Morgan
Member of Advisory Boardno datano datano data

5.3yrs

Average Tenure

64yo

Average Age

Experienced Board: JCAP.PRB's board of directors are considered experienced (5.3 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 6.8%.


Top Shareholders

Company Information

Jernigan Capital, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Jernigan Capital, Inc.
  • Ticker: JCAP.PRB
  • Exchange: NYSE
  • Founded:
  • Industry: Specialized REITs
  • Sector: Real Estate
  • Market Cap: US$354.293m
  • Shares outstanding: 23.02m
  • Website: https://www.jernigancapital.com

Number of Employees


Location

  • Jernigan Capital, Inc.
  • 6410 Poplar Avenue
  • Suite 650
  • Memphis
  • Tennessee
  • 38119
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
JCAPNYSE (New York Stock Exchange)YesCommon StockUSUSDMar 2015
JCAP.PRBNYSE (New York Stock Exchange)7.0% CUM PFD BUSUSDJan 2018

Biography

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. Our 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. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/06/06 06:39
End of Day Share Price2020/06/05 00:00
Earnings2020/03/31
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.