Zacks Investment Research Downgrades Jernigan Capital, Inc. (JCAP) to Hold

Jernigan Capital, Inc. (NYSE:JCAP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Friday.

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. “

A number of other equities analysts have also commented on JCAP. FBR & Co set a $25.00 price objective on Jernigan Capital and gave the stock a “buy” rating in a research note on Friday, October 13th. KeyCorp started coverage on Jernigan Capital in a research note on Thursday. They issued an “overweight” rating and a $24.00 price objective on the stock. BidaskClub lowered Jernigan Capital from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 24th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $22.00 price objective (down from $23.00) on shares of Jernigan Capital in a research note on Tuesday, September 26th. Finally, TheStreet raised Jernigan Capital from a “c+” rating to a “b” rating in a research note on Monday, June 26th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $24.20.

Jernigan Capital (NYSE:JCAP) opened at 21.60 on Friday. The firm’s 50-day moving average is $20.38 and its 200-day moving average is $21.57. The firm has a market capitalization of $303.16 million, a P/E ratio of 11.58 and a beta of 0.89. Jernigan Capital has a 52-week low of $17.01 and a 52-week high of $24.89.

Jernigan Capital (NYSE:JCAP) last released its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.50 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.12. The company had revenue of $3.10 million for the quarter, compared to analysts’ expectations of $2.53 million. Jernigan Capital had a return on equity of 9.37% and a net margin of 185.96%. The business’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.99 earnings per share. On average, equities analysts expect that Jernigan Capital will post $1.59 earnings per share for the current year.

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In other Jernigan Capital news, Director Harry J. Thie purchased 1,650 shares of the company’s stock in a transaction on Thursday, August 10th. The shares were purchased at an average cost of $21.25 per share, with a total value of $35,062.50. Following the completion of the purchase, the director now owns 17,223 shares in the company, valued at $365,988.75. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider John A. Good purchased 5,000 shares of the company’s stock in a transaction on Monday, August 7th. The stock was acquired at an average cost of $21.65 per share, for a total transaction of $108,250.00. Following the completion of the purchase, the insider now owns 217,308 shares of the company’s stock, valued at approximately $4,704,718.20. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 10,600 shares of company stock worth $222,416. 3.18% of the stock is owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. D.A. Davidson & CO. acquired a new position in Jernigan Capital in the second quarter valued at approximately $102,000. Nationwide Fund Advisors acquired a new position in Jernigan Capital in the second quarter valued at approximately $119,000. UBS Group AG lifted its stake in Jernigan Capital by 226.1% in the first quarter. UBS Group AG now owns 6,966 shares of the real estate investment trust’s stock valued at $160,000 after buying an additional 4,830 shares during the period. The Manufacturers Life Insurance Company acquired a new position in Jernigan Capital in the second quarter valued at approximately $175,000. Finally, Tower Research Capital LLC TRC lifted its stake in Jernigan Capital by 1,579.9% in the second quarter. Tower Research Capital LLC TRC now owns 9,458 shares of the real estate investment trust’s stock valued at $208,000 after buying an additional 8,895 shares during the period. 60.64% of the stock is currently owned by hedge funds and other institutional investors.

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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