Jernigan Capital (JCAP) Rating Increased to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Jernigan Capital (NYSE:JCAP) from a strong sell rating to a hold rating in a research report report published on Thursday morning.

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 a number of other reports. B. Riley set a $25.00 target price on Jernigan Capital and gave the company a buy rating in a research report on Friday, December 29th. Robert W. Baird reissued a buy rating on shares of Jernigan Capital in a research report on Friday, November 3rd. BidaskClub raised Jernigan Capital from a sell rating to a hold rating in a research report on Tuesday, November 7th. KeyCorp started coverage on Jernigan Capital in a research report on Thursday, October 19th. They issued an overweight rating and a $24.00 target price for the company. Finally, ValuEngine cut Jernigan Capital from a buy rating to a hold rating in a research report on Thursday, November 30th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Jernigan Capital presently has an average rating of Buy and an average target price of $24.17.

Shares of Jernigan Capital (JCAP) traded up $0.28 during midday trading on Thursday, hitting $17.07. The company had a trading volume of 91,061 shares, compared to its average volume of 158,284. The firm has a market cap of $239.06 and a PE ratio of 11.92. Jernigan Capital has a 1 year low of $15.90 and a 1 year high of $24.89.

In other Jernigan Capital news, Director James D. Dondero sold 48,900 shares of the stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $20.21, for a total transaction of $988,269.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James D. Dondero sold 23,000 shares of the stock in a transaction that occurred on Thursday, December 28th. The stock was sold at an average price of $19.27, for a total value of $443,210.00. The disclosure for this sale can be found here. 3.18% of the stock is currently owned by company insiders.

Institutional investors have recently bought and sold shares of the business. D.A. Davidson & CO. acquired a new stake in Jernigan Capital during the 2nd quarter worth approximately $102,000. Nationwide Fund Advisors purchased a new position in shares of Jernigan Capital during the 2nd quarter worth approximately $119,000. The Manufacturers Life Insurance Company purchased a new position in shares of Jernigan Capital during the 2nd quarter worth approximately $175,000. US Bancorp DE raised its stake 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 in the last quarter. Finally, American International Group Inc. raised its stake 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 in the last quarter. 69.39% 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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