Jernigan Capital (JCAP) Downgraded by Zacks Investment Research to Strong Sell
Jernigan Capital (NYSE:JCAP) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report issued on Wednesday.
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. “
A number of other analysts also recently weighed in on the stock. B. Riley set a $25.00 target price on shares of Jernigan Capital and gave the company a “buy” rating in a research report on Friday, December 29th. ValuEngine downgraded shares of Jernigan Capital from a “buy” rating to a “hold” rating in a research report on Thursday, November 30th. Finally, KeyCorp set a $22.00 target price on shares of Jernigan Capital and gave the company a “buy” rating in a research report on Tuesday, March 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $23.50.
In other news, Director James D. Dondero sold 23,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 28th. The shares were sold at an average price of $19.27, for a total transaction of $443,210.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.18% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. American International Group Inc. grew its position in shares of Jernigan Capital by 51.2% during the 3rd quarter. American International Group Inc. now owns 8,687 shares of the real estate investment trust’s stock worth $179,000 after buying an additional 2,943 shares during the period. US Bancorp DE grew its position in shares of Jernigan Capital by 99.9% during the 4th quarter. US Bancorp DE now owns 9,343 shares of the real estate investment trust’s stock worth $178,000 after buying an additional 4,669 shares during the period. Teachers Advisors LLC grew its position in shares of Jernigan Capital by 25.1% during the 4th quarter. Teachers Advisors LLC now owns 23,613 shares of the real estate investment trust’s stock worth $449,000 after buying an additional 4,742 shares during the period. Summit Asset Management LLC grew its position in shares of Jernigan Capital by 6.4% during the 3rd quarter. Summit Asset Management LLC now owns 83,678 shares of the real estate investment trust’s stock worth $1,720,000 after buying an additional 5,000 shares during the period. Finally, California State Teachers Retirement System lifted its holdings in shares of Jernigan Capital by 30.5% in the 3rd quarter. California State Teachers Retirement System now owns 21,400 shares of the real estate investment trust’s stock worth $440,000 after purchasing an additional 5,000 shares in the last quarter. 72.10% of the stock is owned by institutional investors.
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About Jernigan Capital
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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