Jernigan Capital, Inc. (JCAP) Raised 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 note issued to investors 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 analysts have also recently issued reports on JCAP. Jefferies Group LLC initiated coverage on shares of Jernigan Capital in a report on Monday, April 24th. They set a “hold” rating and a $25.00 target price on the stock. FBR & Co reiterated a “buy” rating on shares of Jernigan Capital in a report on Friday, May 5th. Raymond James Financial, Inc. reiterated an “outperform” rating and set a $26.00 target price (up from $25.00) on shares of Jernigan Capital in a report on Wednesday, June 28th. TheStreet upgraded shares of Jernigan Capital from a “c+” rating to a “b” rating in a report on Monday, June 26th. Finally, BidaskClub cut shares of Jernigan Capital from a “buy” rating to a “hold” rating in a report on Saturday, July 8th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Jernigan Capital presently has a consensus rating of “Buy” and an average price target of $25.00.
Jernigan Capital (NYSE:JCAP) traded down 4.38% during midday trading on Thursday, hitting $18.99. 421,152 shares of the stock traded hands. The firm’s 50-day moving average is $21.37 and its 200-day moving average is $22.22. Jernigan Capital has a 52-week low of $16.00 and a 52-week high of $24.89. The company has a market cap of $266.52 million, a price-to-earnings ratio of 10.18 and a beta of 0.84.
Jernigan Capital (NYSE:JCAP) last issued its earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.50 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.12. Jernigan Capital had a net margin of 185.96% and a return on equity of 9.37%. The company had revenue of $3.10 million for the quarter, compared to analysts’ expectations of $2.53 million. During the same period in the prior year, the business earned $0.99 EPS. The firm’s quarterly revenue was down 3.7% on a year-over-year basis. Analysts predict that Jernigan Capital will post $1.71 EPS for the current year.
In other news, Director James D. Dondero purchased 100,000 shares of the firm’s stock in a transaction on Tuesday, June 27th. The stock was acquired at an average cost of $22.00 per share, with a total value of $2,200,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John A. Good purchased 5,000 shares of the firm’s stock in a transaction on Monday, August 7th. The shares were purchased at an average cost of $21.65 per share, with a total value of $108,250.00. Following the completion of the transaction, the insider now owns 217,308 shares of the company’s stock, valued at approximately $4,704,718.20. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 110,600 shares of company stock valued at $2,422,416. Insiders own 3.18% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. raised its stake in Jernigan Capital by 0.6% in the second quarter. Goldman Sachs Group Inc. now owns 42,644 shares of the real estate investment trust’s stock valued at $938,000 after buying an additional 249 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in Jernigan Capital by 1.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 32,748 shares of the real estate investment trust’s stock valued at $512,000 after buying an additional 547 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Jernigan Capital by 3.5% in the first quarter. Bank of New York Mellon Corp now owns 33,448 shares of the real estate investment trust’s stock valued at $771,000 after buying an additional 1,138 shares during the last quarter. NFC Investments LLC raised its stake in Jernigan Capital by 0.7% in the second quarter. NFC Investments LLC now owns 231,604 shares of the real estate investment trust’s stock valued at $5,095,000 after buying an additional 1,700 shares during the last quarter. Finally, Monarch Partners Asset Management LLC raised its stake in Jernigan Capital by 20.1% in the third quarter. Monarch Partners Asset Management LLC now owns 24,350 shares of the real estate investment trust’s stock valued at $467,000 after buying an additional 4,070 shares during the last quarter. 46.65% of the stock is owned by institutional investors and hedge funds.
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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