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 report issued on Friday.

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

Cherry Hill Mortgage Investment Stock Performance

Shares of NYSE:CHMI opened at $2.62 on Friday. The stock has a market cap of $82.86 million, a PE ratio of -1.72 and a beta of 1.38. The stock’s fifty day simple moving average is $2.80 and its two-hundred day simple moving average is $3.33. Cherry Hill Mortgage Investment has a 1-year low of $2.50 and a 1-year high of $4.11.

Cherry Hill Mortgage Investment (NYSE:CHMI) last released its quarterly earnings results on Tuesday, November 12th. The real estate investment trust reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $14.33 million for the quarter. During the same quarter in the prior year, the firm earned $0.16 earnings per share. On average, sell-side 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 business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.60 annualized dividend and a yield of 22.90%. Cherry Hill Mortgage Investment’s payout ratio is currently -39.47%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Members Trust Co purchased a new stake in shares of Cherry Hill Mortgage Investment during the 3rd quarter worth approximately $47,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in Cherry Hill Mortgage Investment during the third quarter valued at $49,000. Barclays PLC purchased a new stake in Cherry Hill Mortgage Investment in the third quarter worth $52,000. Hudson Valley Investment Advisors Inc. ADV raised its stake in shares of Cherry Hill Mortgage Investment by 133.3% in the third quarter. Hudson Valley Investment Advisors Inc. ADV now owns 28,000 shares of the real estate investment trust’s stock valued at $102,000 after buying an additional 16,000 shares during the period. Finally, Wolverine Asset Management LLC purchased a new position in shares of Cherry Hill Mortgage Investment during the 3rd quarter valued at $665,000. 18.49% of the stock is currently owned by hedge funds and other institutional investors.

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.