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Fly News Breaks for September 27, 2018
JCAP
Sep 27, 2018 | 07:57 EDT
Jefferies analyst George Hoglund upgraded Jernigan Capital to Buy from Hold and raised his price target for the shares to $23 from $20. Jernigan has an increasing near-term opportunity to acquire as many as 20 recently completed self-storage facilities in lease-up over the next 12-18 months, Hoglund tells investors in a research note. The analyst believes the early buy-in of the properties combined with 35% of Jernigan's development investments expected to reach Certificate of Occupancy in 2019 will drive elevated near-term net asset value growth.
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