Jernigan Capital, Inc. (JCAP) Rating Increased to Hold at Zacks Investment Research
Jernigan Capital, Inc. (NYSE:JCAP) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Thursday.
According to Zacks, “Jernigan Capital, Inc. is a commercial real estate finance company which provides financing to private developers, owners and operators of self-storage facilities. The company offers solutions for the ground-up construction of self-storage facilities or self-storage redevelopment opportunities as well as for the acquisition of, refinancing of existing indebtedness on, recapitalization of stabilized self-storage facilities. Jernigan Capital, Inc. is based in MIAMI, United States. “
Several other research firms have also recently commented on JCAP. Jefferies Group LLC began coverage on Jernigan Capital in a research note on Monday, April 24th. They issued a “hold” rating and a $25.00 price target on the stock. Raymond James Financial, Inc. reiterated an “outperform” rating and issued a $26.00 price target (up previously from $25.00) on shares of Jernigan Capital in a research note on Wednesday, June 28th. TheStreet upgraded Jernigan Capital from a “c+” rating to a “b” rating in a research note on Monday, June 26th. FBR & Co reiterated a “buy” rating on shares of Jernigan Capital in a research note on Monday, May 15th. Finally, BidaskClub upgraded Jernigan Capital from a “hold” rating to a “buy” rating in a research note on Thursday, July 20th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $25.00.
Jernigan Capital (NYSE:JCAP) traded down 4.38% on Thursday, reaching $18.99. The company had a trading volume of 421,152 shares. The stock has a 50 day moving average of $21.37 and a 200 day moving average of $22.22. The firm has a market capitalization of $266.52 million, a PE ratio of 10.18 and a beta of 0.84. Jernigan Capital has a 12 month low of $16.00 and a 12 month high of $24.89.
Jernigan Capital (NYSE:JCAP) last released its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.50 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.12. Jernigan Capital had a return on equity of 9.37% and a net margin of 185.96%. The business had revenue of $3.10 million for the quarter, compared to analysts’ expectations of $2.53 million. During the same quarter in the previous year, the firm posted $0.99 earnings per share. The company’s revenue was down 3.7% compared to the same quarter last year. On average, analysts anticipate that Jernigan Capital will post $1.71 EPS for the current year.
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In other news, Director James D. Dondero acquired 100,000 shares of the business’s stock in a transaction on Tuesday, June 27th. The shares were purchased at an average price of $22.00 per share, for a total transaction of $2,200,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Harry J. Thie acquired 1,650 shares of the business’s stock in a transaction on Thursday, August 10th. The shares were purchased at an average price of $21.25 per share, for a total transaction of $35,062.50. Following the purchase, the director now directly owns 17,223 shares of the company’s stock, valued at $365,988.75. The disclosure for this purchase can be found here. Insiders have acquired 110,600 shares of company stock worth $2,422,416 in the last 90 days. 3.18% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the stock. Goldman Sachs Group Inc. purchased a new stake in shares of Jernigan Capital during the first quarter valued at about $977,000. Citadel Advisors LLC raised its position in Jernigan Capital by 27.8% in the first quarter. Citadel Advisors LLC now owns 18,786 shares of the real estate investment trust’s stock valued at $433,000 after buying an additional 4,091 shares during the period. Morgan Stanley raised its position in Jernigan Capital by 71.9% in the first quarter. Morgan Stanley now owns 80,475 shares of the real estate investment trust’s stock valued at $1,854,000 after buying an additional 33,669 shares during the period. UBS Group AG raised its position in Jernigan Capital by 226.1% in the first quarter. UBS Group AG now owns 6,966 shares of the real estate investment trust’s stock valued at $160,000 after buying an additional 4,830 shares during the period. Finally, Geode Capital Management LLC raised its position in Jernigan Capital by 20.7% in the first quarter. Geode Capital Management LLC now owns 40,831 shares of the real estate investment trust’s stock valued at $940,000 after buying an additional 7,008 shares during the period. Hedge funds and other institutional investors own 46.65% of the company’s stock.
Jernigan Capital Company Profile
Jernigan Capital, Inc is a commercial real estate finance company. The Company provides capital to private developers, owners and operators of self-storage facilities. It intends to generate long-term returns on development property investments through a fixed rate of interest on its invested capital together with an interest in the positive cash flows of the self-storage development from operations, sales and/or refinancings.
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