Cherry Hill Mortgage Investment (NYSE:CHMI) Raised to “Hold” at StockNews.com

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

CHMI has been the topic of a number of other reports. B. Riley raised shares of Cherry Hill Mortgage Investment to a “strong-buy” rating in a report on Tuesday, January 7th. JMP Securities reissued a “market perform” rating on shares of Cherry Hill Mortgage Investment in a report on Thursday, January 23rd. Finally, Janney Montgomery Scott started coverage on shares of 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 Price Performance

CHMI opened at $3.58 on Friday. The stock has a market capitalization of $113.06 million, a PE ratio of -2.35 and a beta of 1.43. The firm’s fifty day moving average price is $3.19 and its 200 day moving average price is $3.19. Cherry Hill Mortgage Investment has a 12-month low of $2.50 and a 12-month high of $3.99.

Cherry Hill Mortgage Investment (NYSE:CHMI) last issued its earnings results on Thursday, March 6th. The real estate investment trust reported $0.10 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.10. The company had revenue of $0.66 million for the quarter, compared to analysts’ expectations of $1.50 million. Cherry Hill Mortgage Investment had a negative net margin of 60.97% and a positive return on equity of 15.18%. On average, equities research analysts forecast that Cherry Hill Mortgage Investment will post 0.38 earnings per share for the current fiscal year.

Cherry Hill Mortgage Investment Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st were given a dividend of $0.15 per share. The ex-dividend date was Tuesday, December 31st. This represents a $0.60 annualized dividend and a dividend yield of 16.78%. Cherry Hill Mortgage Investment’s dividend payout ratio is currently 1,000.00%.

Hedge Funds Weigh In On Cherry Hill Mortgage Investment

Institutional investors have recently modified their holdings of the company. Wolverine Asset Management LLC bought a new position in shares of Cherry Hill Mortgage Investment during the third quarter worth about $665,000. Barclays PLC bought a new position in shares of Cherry Hill Mortgage Investment during the third quarter worth about $52,000. Geode Capital Management LLC grew its position 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 worth $1,225,000 after acquiring an additional 23,947 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Cherry Hill Mortgage Investment during the third quarter worth about $49,000. Finally, Penserra Capital Management LLC grew 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 during the last quarter. Institutional investors 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.