Jernigan Capital (NASDAQ:JCAP) Shares Gap Up - Here's What Happened

Key Points

• Jernigan Capital shares opened sharply higher, rising from a prior close of $19.46 to an opening price of $21.42; they were last trading at $21.01.
• Analyst views were mixed, but the consensus rating was “Moderate Buy”, with an average price target of $27.50. Several firms had raised their targets, while others rated the stock Hold.
• The REIT reported quarterly EPS of $0.77, beating the $0.63 consensus estimate, and several institutional investors increased their holdings during the third quarter.

Shares of Jernigan Capital, Inc. (NASDAQ:JCAP - Get Free Report) gapped up prior to trading on Friday. The stock had previously closed at $19.46, but opened at $21.42. Jernigan Capital shares last traded at $21.01, with a volume of 27,573 shares traded.

Analyst Upgrades and Downgrades

JCAP has been the subject of a number of research reports. Weiss Ratings lowered shares of Jernigan Capital from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, October 16th. Zacks Research upgraded shares of Jernigan Capital from a "strong sell" rating to a "hold" rating in a report on Friday, October 23rd. Raymond James Financial lifted their price target on shares of Jernigan Capital from $21.00 to $24.00 and gave the company an "outperform" rating in a report on Friday, August 14th. Citizens Jmp boosted their price target on shares of Jernigan Capital from $26.00 to $28.00 and gave the stock a "market outperform" rating in a research note on Friday, August 14th. Finally, Truist Financial increased their price objective on shares of Jernigan Capital from $26.00 to $30.00 and gave the company a "buy" rating in a report on Friday, August 14th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $27.50.

Jernigan Capital Stock Performance

The firm has a fifty day simple moving average of $20.23 and a two-hundred day simple moving average of $19.93. The firm has a market cap of $1.19 billion, a PE ratio of 8.45 and a beta of -0.05.

Jernigan Capital (NASDAQ:JCAP - Get Free Report) last issued its quarterly earnings data on Thursday, August 13th. The real estate investment trust reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.14. The business had revenue of $177.54 million for the quarter. Jernigan Capital had a return on equity of 35.87% and a net margin of 23.50%. Equities analysts forecast that Jernigan Capital, Inc. will post 2.39 EPS for the current fiscal year.

Institutional Investors Weigh In On Jernigan Capital

Large investors have recently bought and sold shares of the business. William Blair Investment Management LLC grew its stake in shares of Jernigan Capital by 16.1% in the 3rd quarter. William Blair Investment Management LLC now owns 2,096,691 shares of the real estate investment trust's stock worth $40,005,000 after buying an additional 290,026 shares in the last quarter. State of Wyoming bought a new stake in shares of Jernigan Capital in the 3rd quarter worth about $65,000. Sterling Capital Management LLC increased its holdings in shares of Jernigan Capital by 6,630.8% in the 3rd quarter. Sterling Capital Management LLC now owns 14,000 shares of the real estate investment trust's stock worth $267,000 after buying an additional 13,792 shares during the last quarter. Nisa Investment Advisors LLC raised its position in shares of Jernigan Capital by 135.7% during the 3rd quarter. Nisa Investment Advisors LLC now owns 5,401 shares of the real estate investment trust's stock valued at $103,000 after buying an additional 3,110 shares in the last quarter. Finally, State of Alaska Department of Revenue purchased a new stake in shares of Jernigan Capital during the 3rd quarter valued at about $41,000.

Jernigan Capital Company Profile

Jernigan Capital, Inc. was a real estate investment trust focused on the U.S. self-storage industry. The company provided financing and investment capital for the development of self-storage properties, partnering with developers and operators on projects across the country. Founded by self-storage industry executive Dean Jernigan, the company made debt and equity investments in development-stage facilities and, in some cases, retained ownership interests as projects were completed. Jernigan served as the company's chairman and chief executive officer.

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