Jernigan Capital (NASDAQ:JCAP) Shares Gap Up – Should You Buy?

Jernigan Capital, Inc. (NASDAQ:JCAP) gapped up before the market opened 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 changing hands.

Analyst Ratings Changes

JCAP has been the subject of several recent research reports. Weiss Ratings downgraded shares of Jernigan Capital from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, October 16th. Zacks Research upgraded Jernigan Capital from a “strong sell” rating to a “hold” rating in a research report on Friday, October 23rd. Raymond James Financial boosted their price objective on Jernigan Capital from $21.00 to $24.00 and gave the company an “outperform” rating in a research note on Friday, August 14th. Citizens Jmp upped their price target on Jernigan Capital from $26.00 to $28.00 and gave the company a “market outperform” rating in a research report on Friday, August 14th. Finally, Truist Financial raised their price objective on shares of Jernigan Capital from $26.00 to $30.00 and gave the company a “buy” rating in a research 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 assigned a Hold rating to the stock. According to data from MarketBeat.com, Jernigan Capital presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.50.

Jernigan Capital Price Performance

The stock has a market cap of $1.20 billion, a P/E ratio of 7.97 and a beta of -0.05. The company has a 50 day simple moving average of $20.22 and a 200-day simple moving average of $19.92.

Jernigan Capital (NASDAQ:JCAP) last announced its quarterly earnings data on Thursday, August 13th. The real estate investment trust reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.14. The firm had revenue of $177.54 million for the quarter. Jernigan Capital had a return on equity of 34.37% and a net margin of 23.55%. As a group, research analysts expect that Jernigan Capital, Inc. will post 2.39 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of JCAP. Renaissance Technologies LLC grew its holdings in shares of Jernigan Capital by 86.2% during the 1st quarter. Renaissance Technologies LLC now owns 178,032 shares of the real estate investment trust’s stock worth $3,424,000 after acquiring an additional 82,432 shares during the period. Principal Financial Group Inc. increased its stake in shares of Jernigan Capital by 98.8% during 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. Bank of America Corp DE increased its stake in shares of Jernigan Capital by 95.9% during the first quarter. Bank of America Corp DE now owns 58,859 shares of the real estate investment trust’s stock valued at $1,132,000 after purchasing an additional 28,815 shares in the last quarter. North Reef Capital Management LP lifted its holdings in shares of Jernigan Capital by 122.2% during the first quarter. North Reef Capital Management LP now owns 532,151 shares of the real estate investment trust’s stock valued at $10,233,000 after purchasing an additional 292,678 shares during the last quarter. Finally, Punch & Associates Investment Management Inc. bought a new stake in shares of Jernigan Capital in the 1st quarter worth approximately $21,458,000.

About Jernigan Capital

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.