Jernigan Capital’s (JCAP) Buy Rating Reiterated at Robert W. Baird
A number of other brokerages also recently weighed in on JCAP. Jefferies Group LLC reiterated a hold rating and set a $22.00 price target (down previously from $23.00) on shares of Jernigan Capital in a report on Tuesday, September 26th. BidaskClub upgraded Jernigan Capital from a hold rating to a buy rating in a research note on Thursday, July 20th. Zacks Investment Research downgraded Jernigan Capital from a buy rating to a hold rating in a research note on Friday, October 20th. ValuEngine downgraded Jernigan Capital from a strong-buy rating to a buy rating in a research note on Tuesday, August 1st. Finally, TheStreet downgraded Jernigan Capital from a b rating to a c rating in a research note on Monday, August 21st. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Jernigan Capital presently has a consensus rating of Buy and a consensus target price of $24.20.
Jernigan Capital (JCAP) opened at $20.12 on Friday. Jernigan Capital has a twelve month low of $17.01 and a twelve month high of $24.89. The company has a current ratio of 44.83, a quick ratio of 44.83 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $286.48, a price-to-earnings ratio of 13.60 and a beta of 0.87.
In related news, Director Howard A. Silver purchased 2,481 shares of Jernigan Capital stock in a transaction on Friday, August 11th. The stock was bought at an average price of $20.15 per share, with a total value of $49,992.15. Following the completion of the transaction, the director now directly owns 15,704 shares of the company’s stock, valued at $316,435.60. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Harry J. Thie purchased 1,650 shares of Jernigan Capital stock in a transaction on Thursday, August 10th. The stock was bought at an average cost of $21.25 per share, with a total value of $35,062.50. Following the transaction, the director now directly owns 17,223 shares of the company’s stock, valued at $365,988.75. The disclosure for this purchase can be found here. Insiders acquired 5,600 shares of company stock worth $114,166 in the last 90 days. Corporate insiders own 3.18% of the company’s stock.
Several large investors have recently made changes to their positions in JCAP. Forward Management LLC lifted its position in shares of Jernigan Capital by 174.3% in the second quarter. Forward Management LLC now owns 1,440,000 shares of the real estate investment trust’s stock worth $31,680,000 after buying an additional 915,000 shares during the last quarter. Investment Counselors of Maryland LLC acquired a new stake in shares of Jernigan Capital in the second quarter worth about $8,800,000. Uniplan Investment Counsel Inc. lifted its position in shares of Jernigan Capital by 212.5% in the second quarter. Uniplan Investment Counsel Inc. now owns 543,540 shares of the real estate investment trust’s stock worth $11,414,000 after buying an additional 369,588 shares during the last quarter. Ranger Global Real Estate Advisors LLC lifted its position in shares of Jernigan Capital by 201.8% in the second quarter. Ranger Global Real Estate Advisors LLC now owns 494,961 shares of the real estate investment trust’s stock worth $10,889,000 after buying an additional 330,936 shares during the last quarter. Finally, Chicago Equity Partners LLC acquired a new stake in shares of Jernigan Capital in the third quarter worth about $4,245,000. 58.96% of the stock is owned by institutional investors.
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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