B.Riley FBR Reiterates a Buy Rating on Jernigan Capital (JCAP)

B.Riley FBR analyst Timothy P. Hayes reiterated a Buy rating on Jernigan Capital (JCAP) today and set a price target of $26. The company’s shares closed yesterday at $21.32.

Hayes said:

“We reiterate our Buy rating and $26 price target on shares of Jernigan Capital (JCAP), following strong 1Q19 results that handily beat B. Riley FBR and Street estimates and eclipsed the high end of management’s guidance range. This was a busy quarter for JCAP as it completed five developer buyouts (one on-balance-sheet and four in the Heitman JV), entered into two new development loan commitments, and had four self-storage assets deliver. To that end, JCAP has now committed approximately 50% of the midpoint of its full-year 2019 investment guidance range of $85M to $115M, as of May 1 (including a $23.5M loan commitment closed in April). Despite the strong results and operating activity, management has maintained its FY19 guidance.”

According to TipRanks.com, Hayes is a 4-star analyst with an average return of 10.2% and a 87.5% success rate. Hayes covers the Financial sector, focusing on stocks such as Saratoga Investment Corp, Starwood Property Trust, and Cherry Hill Mortgage.

Jernigan Capital has an analyst consensus of Moderate Buy, with a price target consensus of $26.

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Jernigan Capital’s market cap is currently $435.6M and has a P/E ratio of 10.86. The company has a Price to Book ratio of 1.12.

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Jernigan Capital, Inc. is a real estate investment company, which engages in the provision of debt and equity capital. Its investments include mortgage loans typically coupled with equity interests as well as outright ownership of self-storage facilities. The company was founded by Dean Jernigan in October 1, 2014 and is headquartered in Memphis, TN.