On the back of a Wunderlich Analyst report that did nothing more than confuse a lot of Jernigan Capital (JCAP) shareholders, Jernigan released a PDF today of FAQs regarding the company's business model. Personally, I do not like when a company attempts to defend its stock price or when a company says their stock "should be worth x, y, or z", but in this case it made sense for JCAP to clarify the confusion given the false information in a recent research report.
The company listed the reason for the PDF is as follows:
Since our March 7, 2016 earnings announcement, a number of events have occurred that have impacted Jernigan Capital and our stock price. Many of these events are related to our capitalization, specifically our joint venture with an affiliate of Heitman Capital Management. Third parties have erroneously reported certain facts about our joint venture and other capital initiatives, and we have fielded many questions from our stockholders, who are worried about their investments. The purpose of these FAQs is to provide all stakeholders with the most up-to-date information we can while at the same time correcting various factual inaccuracies, omissions and misleading statements in third party reports about Jernigan Capital. Although we cannot respond to every report written about us, the depth of inaccurate information reported recently has compelled us to issue these FAQs.
Click here to view the PDF.