Cherry Hill Mortgage Investment (NYSE:CHMI) Upgraded at B. Riley

B. Riley upgraded shares of Cherry Hill Mortgage Investment (NYSE:CHMI) to a strong-buy rating in a research report released on Tuesday,Zacks.com reports.

Other equities research analysts have also issued reports about the company. StockNews.com upgraded Cherry Hill Mortgage Investment from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. Janney Montgomery Scott assumed coverage on Cherry Hill Mortgage Investment in a report on Thursday, January 2nd. They set a “buy” rating and a $4.00 target price on the stock.

Cherry Hill Mortgage Investment Trading Down 1.4 %

NYSE CHMI opened at $2.81 on Tuesday. Cherry Hill Mortgage Investment has a 1-year low of $2.50 and a 1-year high of $4.10. The company has a market capitalization of $88.87 million, a price-to-earnings ratio of -1.85 and a beta of 1.38. The stock’s 50 day moving average is $2.77 and its two-hundred day moving average is $3.31.

Cherry Hill Mortgage Investment (NYSE:CHMI) last announced its quarterly earnings results on Tuesday, November 12th. The real estate investment trust reported $0.08 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.06). Cherry Hill Mortgage Investment had a negative net margin of 60.97% and a positive return on equity of 15.18%. The company had revenue of $14.33 million during the quarter. During the same quarter last year, the company posted $0.16 earnings per share. On average, analysts predict that Cherry Hill Mortgage Investment will post 0.38 earnings per share for the current year.

Cherry Hill Mortgage Investment Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 21.35%. The ex-dividend date is Tuesday, December 31st. Cherry Hill Mortgage Investment’s dividend payout ratio is currently -39.47%.

Hedge Funds Weigh In On Cherry Hill Mortgage Investment

Several large investors have recently made changes to their positions in CHMI. Forum Financial Management LP boosted its stake in Cherry Hill Mortgage Investment by 4.4% in the third quarter. Forum Financial Management LP now owns 298,600 shares of the real estate investment trust’s stock valued at $1,084,000 after acquiring an additional 12,600 shares during the last quarter. Members Trust Co bought a new stake in shares of Cherry Hill Mortgage Investment during the 3rd quarter valued at $47,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Cherry Hill Mortgage Investment in the 3rd quarter valued at $49,000. Barclays PLC bought a new position in shares of Cherry Hill Mortgage Investment in the 3rd quarter worth $52,000. Finally, Hudson Valley Investment Advisors Inc. ADV grew its stake in shares of Cherry Hill Mortgage Investment by 133.3% during the third quarter. Hudson Valley Investment Advisors Inc. ADV now owns 28,000 shares of the real estate investment trust’s stock worth $102,000 after purchasing an additional 16,000 shares during the period. Institutional investors and hedge funds own 18.49% of the company’s stock.

About Cherry Hill Mortgage Investment

Cherry Hill Mortgage Investment Corporation, a residential real estate finance company, acquires, invests in, and manages residential mortgage assets in the United States. It operates through Investments in RMBS (residential mortgage-backed securities) and Investments in Servicing Related Assets segments.