Jernigan Capital (JCAP) Lifted to Buy at Zacks Investment Research

Jernigan Capital (NYSE:JCAP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday. The brokerage presently has a $24.00 price objective on the real estate investment trust’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 12.78% from the stock’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 commented on the stock. Raymond James increased their price objective on shares of Jernigan Capital from $22.00 to $24.00 and gave the company an “outperform” rating in a research note on Tuesday, December 11th. KeyCorp set a $23.00 price objective on shares of Jernigan Capital and gave the company a “buy” rating in a research note on Wednesday, November 28th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $24.00.

NYSE:JCAP opened at $21.28 on Thursday. The stock has a market capitalization of $415.10 million, a price-to-earnings ratio of 10.23 and a beta of 0.57. Jernigan Capital has a 52 week low of $17.46 and a 52 week high of $22.05.

Institutional investors have recently added to or reduced their stakes in the company. Loeb Partners Corp bought a new position in shares of Jernigan Capital during the 4th quarter valued at approximately $40,000. Metropolitan Life Insurance Co. NY grew its position in shares of Jernigan Capital by 569.9% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 6,873 shares of the real estate investment trust’s stock valued at $136,000 after acquiring an additional 5,847 shares during the period. Nisa Investment Advisors LLC bought a new position in shares of Jernigan Capital during the 4th quarter valued at approximately $224,000. American International Group Inc. grew its position in shares of Jernigan Capital by 35.4% during the 3rd quarter. American International Group Inc. now owns 11,927 shares of the real estate investment trust’s stock valued at $230,000 after acquiring an additional 3,116 shares during the period. Finally, GSA Capital Partners LLP bought a new position in shares of Jernigan Capital during the 4th quarter valued at approximately $249,000. 75.92% of the stock is owned by hedge funds and other institutional investors.

About Jernigan Capital

Jernigan Capital, Inc is a New York Stock Exchange-listed real estate investment trust (NYSE: JCAP) that provides debt and equity capital to private developers, owners, and operators of self-storage facilities. Our mission is to be the preeminent capital partner for self-storage entrepreneurs nationwide by offering creative solutions through an experienced team demonstrating the highest levels of integrity, dedication, excellence and community, while maximizing shareholder value.

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