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Jernigan Capital ups '16 guidance

JerniganCapital Inc. raised guidance for 2016, saying it now expects netincome of 59 cents per share to $1.14 per share.

The company's previous guidance for EPS of 64 cents to $1.09 for2016.

Adjusted earnings are now expected to be in the range of$1.10 per share to $1.61 per share, compared to the prior guidance of 79 centsto $1.24, according to a May 4 news release.

For the second quarter, the company estimates net income tobe about $1.4 million to $2.1 million, or 22 cents per share to 34 cents pershare. Adjusted earnings should be about $1.8 million to $2.5 million, or 29cents per share to 40 cents per share.

Jernigan Capital reported first-quarter net income of $1.1million, or 18 cents per share, compared with a net loss of $831,000, or a lossof 15 cents per share, in the three months ended Dec. 31, 2015. Adjustedearnings were $3.2 million, or 53 cents per share, compared with a net loss of$693,000, or a loss of 13 cents per share, in the three months ended Dec. 31,2015.