Cherry Hill Mortgage Investment (NYSE:CHMI) Upgraded at StockNews.com

StockNews.com upgraded shares of Cherry Hill Mortgage Investment (NYSE:CHMI) from a sell rating to a hold rating in a research report report published on Friday.

Separately, Janney Montgomery Scott assumed coverage on shares of Cherry Hill Mortgage Investment in a research note on Thursday. They issued a “buy” rating and a $4.00 price objective for the company.

Cherry Hill Mortgage Investment Stock Performance

Shares of Cherry Hill Mortgage Investment stock opened at $2.62 on Friday. The business has a 50-day moving average price of $2.80 and a two-hundred day moving average price of $3.33. Cherry Hill Mortgage Investment has a 1-year low of $2.50 and a 1-year high of $4.11. The company has a market cap of $82.86 million, a P/E ratio of -1.72 and a beta of 1.38.

Cherry Hill Mortgage Investment (NYSE:CHMI) last released its 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 positive return on equity of 15.18% and a negative net margin of 60.97%. The business had revenue of $14.33 million for the quarter. During the same period in the prior year, the company earned $0.16 earnings per share. Equities research analysts forecast that Cherry Hill Mortgage Investment will post 0.38 EPS for the current fiscal year.

Cherry Hill Mortgage Investment Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 22.90%. The ex-dividend date is Tuesday, December 31st. Cherry Hill Mortgage Investment’s payout ratio is -39.47%.

Hedge Funds Weigh In On Cherry Hill Mortgage Investment

Institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC grew its position in Cherry Hill Mortgage Investment by 7.9% in the 2nd quarter. Renaissance Technologies LLC now owns 507,684 shares of the real estate investment trust’s stock valued at $1,843,000 after purchasing an additional 37,300 shares during the period. Geode Capital Management LLC grew its holdings in shares of Cherry Hill Mortgage Investment by 7.6% during the third quarter. Geode Capital Management LLC now owns 337,392 shares of the real estate investment trust’s stock valued at $1,225,000 after buying an additional 23,947 shares during the last quarter. Forum Financial Management LP grew its holdings in shares of Cherry Hill Mortgage Investment by 4.4% during 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 buying an additional 12,600 shares during the last quarter. Penserra Capital Management LLC increased its position in shares of Cherry Hill Mortgage Investment by 22.9% during the third quarter. Penserra Capital Management LLC now owns 265,787 shares of the real estate investment trust’s stock worth $964,000 after acquiring an additional 49,600 shares in the last quarter. Finally, Wolverine Asset Management LLC acquired a new stake in shares of Cherry Hill Mortgage Investment in the 3rd quarter worth about $665,000. 18.49% of the stock is owned by institutional investors and hedge funds.

Cherry Hill Mortgage Investment Company Profile

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.