Jernigan Capital (JCAP) Upgraded to “Buy” by Zacks Investment Research

Zacks Investment Research upgraded shares of Jernigan Capital (NYSE:JCAP) from a hold rating to a buy rating in a research report report published on Wednesday. Zacks Investment Research currently has $20.00 price objective on the real estate investment trust’s stock.

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. “

JCAP has been the subject of several other reports. ValuEngine cut shares of Jernigan Capital from a buy rating to a hold rating in a research note on Thursday, November 30th. B. Riley reissued a buy rating on shares of Jernigan Capital in a research note on Wednesday, November 1st. TheStreet cut shares of Jernigan Capital from a b- rating to a c rating in a research note on Friday, November 10th. BidaskClub cut shares of Jernigan Capital from a buy rating to a hold rating in a research note on Tuesday, October 31st. Finally, Robert W. Baird reissued a buy rating on shares of Jernigan Capital in a research note on Friday, November 3rd. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $23.67.

Jernigan Capital (JCAP) opened at $16.87 on Wednesday. Jernigan Capital has a 52 week low of $15.90 and a 52 week high of $24.89. The firm has a market cap of $250.47, a price-to-earnings ratio of 11.55 and a beta of 0.66.

In other Jernigan Capital news, Director James D. Dondero sold 23,000 shares of the firm’s stock in a transaction on Thursday, December 28th. The stock was 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 this link. Company insiders own 3.18% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. lifted its holdings in Jernigan Capital by 0.6% during the 2nd quarter. Goldman Sachs Group Inc. now owns 42,644 shares of the real estate investment trust’s stock valued at $938,000 after purchasing an additional 249 shares during the last quarter. American International Group Inc. lifted its holdings in 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 valued at $179,000 after purchasing an additional 2,943 shares during the last quarter. US Bancorp DE lifted its holdings in 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 valued at $178,000 after purchasing an additional 4,669 shares during the last quarter. Teachers Advisors LLC lifted its holdings in 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 valued at $449,000 after purchasing an additional 4,742 shares during the last quarter. Finally, Summit Asset Management LLC lifted its holdings in 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 valued at $1,720,000 after purchasing an additional 5,000 shares during the last quarter. 70.72% of the stock is owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Jernigan Capital (NYSE:JCAP)

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