Jernigan Capital (NASDAQ:JCAP) Shares Gap Up on Analyst Upgrade

Key Points

• Jernigan Capital shares jumped 8.7%, opening at $23.05 after Citizens JMP raised its price target from $26 to $28 and maintained an outperform rating. Shares later traded at $23.58.
• Analyst sentiment is generally positive: JCAP has an average “Moderate Buy” rating and a consensus price target of $28, despite mixed recent rating changes from Zacks Research and Weiss Ratings.
• Several institutional investors increased their holdings during the first quarter, while the company reported quarterly EPS of $0.77 and analysts expect full-year EPS of $2.53.

Shares of Jernigan Capital, Inc. (NASDAQ:JCAP - Get Free Report) gapped up prior to trading on Friday after Citizens Jmp raised their price target on the stock from $26.00 to $28.00. The stock had previously closed at $21.61, but opened at $23.05. Citizens Jmp currently has a market outperform rating on the stock. Jernigan Capital shares last traded at $23.58, with a volume of 238,307 shares traded.

Other research analysts have also recently issued reports about the company. Zacks Research raised Jernigan Capital from a "strong sell" rating to a "hold" rating in a research report on Tuesday, July 14th. Weiss Ratings downgraded shares of Jernigan Capital from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday, June 3rd. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Jernigan Capital currently has an average rating of "Moderate Buy" and a consensus target price of $28.00.

Hedge Funds Weigh In On Jernigan Capital

Institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC increased its holdings in shares of Jernigan Capital by 86.2% in the 1st quarter. Renaissance Technologies LLC now owns 178,032 shares of the real estate investment trust's stock worth $3,424,000 after buying an additional 82,432 shares during the last quarter. Principal Financial Group Inc. grew its position in Jernigan Capital by 98.8% in the first quarter. Principal Financial Group Inc. now owns 1,537,054 shares of the real estate investment trust's stock worth $29,558,000 after acquiring an additional 763,766 shares in the last quarter. North Reef Capital Management LP grew its position in Jernigan Capital by 122.2% in the first quarter. North Reef Capital Management LP now owns 532,151 shares of the real estate investment trust's stock worth $10,233,000 after acquiring an additional 292,678 shares in the last quarter. Punch & Associates Investment Management Inc. bought a new stake in Jernigan Capital during the first quarter worth approximately $21,458,000. Finally, William Blair Investment Management LLC increased its stake in Jernigan Capital by 6.5% during the fourth quarter. William Blair Investment Management LLC now owns 1,484,109 shares of the real estate investment trust's stock worth $33,155,000 after acquiring an additional 89,967 shares during the last quarter.

Jernigan Capital Stock Up 8.7%

The company has a 50 day simple moving average of $18.86 and a two-hundred day simple moving average of $19.58. The company has a market capitalization of $1.45 billion, a P/E ratio of 9.07 and a beta of -0.16.

Jernigan Capital (NASDAQ:JCAP - Get Free Report) last announced its earnings results on Thursday, July 30th. The real estate investment trust reported $0.77 EPS for the quarter. Jernigan Capital had a return on equity of 38.63% and a net margin of 25.42%. As a group, research analysts expect that Jernigan Capital, Inc. will post 2.53 EPS for the current fiscal year.

About Jernigan Capital

Jernigan Capital 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 with a view to eventual outright ownership of facilities the Company finances. The Company's mission is to maximize shareholder value by accumulating a multi-billion dollar investment portfolio consisting of the newest, most attractive and best located self-storage facilities in the United States through a talented and experienced team demonstrating the highest levels of integrity, dedication, excellence and community.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source