B. Riley set a $25.00 price objective on Jernigan Capital (NYSE:JCAP) in a research note issued to investors on Friday morning. The brokerage currently has a buy rating on the real estate investment trust’s stock.
Other research analysts have also recently issued research reports about the stock. Zacks Investment Research raised shares of Jernigan Capital from a hold rating to a buy rating and set a $24.00 price target on the stock in a report on Monday, October 23rd. BidaskClub raised shares of Jernigan Capital from a hold rating to a buy rating in a report on Monday, October 23rd. FBR & Co set a $25.00 price target on shares of Jernigan Capital and gave the stock a buy rating in a report on Friday, October 13th. Jefferies Group reaffirmed a hold rating and issued a $22.00 price target (down previously from $23.00) on shares of Jernigan Capital in a report on Tuesday, September 26th. Finally, ValuEngine raised shares of Jernigan Capital from a hold rating to a buy rating in a report on Monday, November 6th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Jernigan Capital presently has an average rating of Buy and an average price target of $24.17.
Shares of Jernigan Capital (JCAP) opened at $19.01 on Friday. Jernigan Capital has a 1-year low of $18.55 and a 1-year high of $24.89. The stock has a market cap of $271.31, a price-to-earnings ratio of 13.02 and a beta of 0.85.
In related news, Director James D. Dondero sold 23,000 shares of the stock in a transaction on Thursday, December 28th. The stock was sold at an average price of $19.27, for a total value of $443,210.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director James D. Dondero sold 48,900 shares of the stock in a transaction on Friday, November 17th. The shares were sold at an average price of $20.21, for a total value of $988,269.00. The disclosure for this sale can be found here. Corporate insiders own 3.18% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. D.A. Davidson & CO. bought a new position in Jernigan Capital in the second quarter valued at $102,000. Nationwide Fund Advisors bought a new position in Jernigan Capital in the second quarter valued at $119,000. The Manufacturers Life Insurance Company bought a new position in Jernigan Capital in the second quarter valued at $175,000. American International Group Inc. increased its stake in Jernigan Capital by 51.2% in the third quarter. American International Group Inc. now owns 8,687 shares of the real estate investment trust’s stock valued at $179,000 after acquiring an additional 2,943 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Jernigan Capital by 2,347.8% in the third quarter. JPMorgan Chase & Co. now owns 8,763 shares of the real estate investment trust’s stock valued at $180,000 after acquiring an additional 8,405 shares during the last quarter. 69.59% of the stock is currently 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.
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