Jernigan Capital (NASDAQ:JCAP) Stock Rating Upgraded by Zacks Research

Key Points

• Zacks Research upgraded Jernigan Capital from “strong sell” to “hold,” while Weiss Ratings slightly lowered its view from “hold (c+)” to “hold (c).”
• Analyst sentiment is still generally positive overall, with the stock carrying an average “Moderate Buy” rating and a consensus target price of $25.20.
• Jernigan Capital shares were up 2.0% and opened at $19.14, after the company recently reported quarterly EPS of $0.69 on revenue of $154.8 million.

Jernigan Capital (NASDAQ:JCAP - Get Free Report) was upgraded by Zacks Research from a "strong sell" rating to a "hold" rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Separately, Weiss Ratings cut Jernigan Capital from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday, June 3rd. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Jernigan Capital has an average rating of "Moderate Buy" and a consensus target price of $25.20.

Jernigan Capital Trading Up 2.0%

Shares of Jernigan Capital stock opened at $19.14 on Tuesday. Jernigan Capital has a 52 week low of $15.50 and a 52 week high of $23.80. The stock has a market cap of $1.18 billion and a PE ratio of 7.39. The company's 50-day moving average price is $17.77 and its two-hundred day moving average price is $19.90.

Jernigan Capital (NASDAQ:JCAP - Get Free Report) last posted its quarterly earnings data on Thursday, March 12th. The real estate investment trust reported $0.69 earnings per share for the quarter. The company had revenue of $154.80 million during the quarter. Jernigan Capital had a net margin of 25.42% and a return on equity of 38.63%. On average, equities analysts predict that Jernigan Capital will post 2.53 EPS for the current fiscal year.

Hedge Funds Weigh In On Jernigan Capital

Several institutional investors and hedge funds have recently bought and sold shares of the business. Punch & Associates Investment Management Inc. acquired a new position in shares of Jernigan Capital in the first quarter worth $21,458,000. Wellington Management Group LLP acquired a new stake in Jernigan Capital during the third quarter valued at $19,017,000. Adage Capital Partners GP L.L.C. purchased a new position in Jernigan Capital in the second quarter valued at about $15,277,000. Principal Financial Group Inc. grew its stake 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 valued at $29,558,000 after purchasing an additional 763,766 shares in the last quarter. Finally, Nantahala Capital Management LLC acquired a new position in Jernigan Capital in the 2nd quarter worth about $11,070,000.

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.

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