Jernigan Capital (NYSE:JCAP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday. The firm currently has a $20.00 target price on the real estate investment trust’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 16.62% from the company’s previous close.
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 equities research analysts have also issued reports on the company. B. Riley set a $25.00 price target on Jernigan Capital and gave the stock a “buy” rating in a research note on Friday, February 9th. ValuEngine lowered Jernigan Capital from a “buy” rating to a “hold” rating in a research note on Thursday, November 30th. TheStreet lowered Jernigan Capital from a “b-” rating to a “c” rating in a research note on Friday, November 10th. BidaskClub upgraded Jernigan Capital from a “sell” rating to a “hold” rating in a report on Tuesday, November 7th. Finally, Robert W. Baird reiterated a “buy” rating on shares of Jernigan Capital in a report on Friday, November 3rd. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Jernigan Capital currently has an average rating of “Buy” and an average target price of $23.67.
Shares of Jernigan Capital (JCAP) opened at $17.15 on Wednesday. Jernigan Capital has a 52 week low of $15.90 and a 52 week high of $24.89. The stock has a market capitalization of $250.47, a PE ratio of 11.75 and a beta of 0.66.
In related news, Director James D. Dondero sold 23,000 shares of the business’s stock in a transaction dated 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 SEC, which is accessible through this link. 3.18% of the stock is owned by insiders.
A number of large investors have recently made changes to their positions in JCAP. Chicago Equity Partners LLC purchased a new position in Jernigan Capital during the 3rd quarter valued at about $4,245,000. ArrowMark Colorado Holdings LLC increased its holdings in Jernigan Capital by 40.7% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 569,199 shares of the real estate investment trust’s stock valued at $10,820,000 after purchasing an additional 164,616 shares during the period. LSV Asset Management grew its holdings in shares of Jernigan Capital by 25.4% during the 4th quarter. LSV Asset Management now owns 756,265 shares of the real estate investment trust’s stock worth $14,376,000 after acquiring an additional 153,387 shares during the period. Vanguard Group Inc. grew its holdings in shares of Jernigan Capital by 42.2% during the 2nd quarter. Vanguard Group Inc. now owns 449,406 shares of the real estate investment trust’s stock worth $9,887,000 after acquiring an additional 133,432 shares during the period. Finally, Wells Fargo & Company MN grew its holdings in shares of Jernigan Capital by 2,282,420.0% during the 3rd quarter. Wells Fargo & Company MN now owns 114,126 shares of the real estate investment trust’s stock worth $2,345,000 after acquiring an additional 114,121 shares during the period. Institutional investors own 70.72% of the company’s stock.
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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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