Cherry Hill Mortgage Investment (NYSE:CHMI) Rating Increased to Strong-Buy at B. Riley

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

Several other brokerages have also issued reports on CHMI. 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 initiated coverage on shares of Cherry Hill Mortgage Investment in a research note on Thursday, January 2nd. They issued a “buy” rating and a $4.00 price target on the stock.

Cherry Hill Mortgage Investment Stock Performance

CHMI opened at $2.81 on Tuesday. The firm’s fifty day moving average is $2.77 and its two-hundred day moving average is $3.31. The firm has a market cap of $88.87 million, a PE ratio of -1.85 and a beta of 1.38. Cherry Hill Mortgage Investment has a twelve month low of $2.50 and a twelve month high of $4.10.

Cherry Hill Mortgage Investment (NYSE:CHMI) last issued its quarterly earnings data 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 quarter in the previous year, the firm earned $0.16 earnings per share. Equities analysts forecast that Cherry Hill Mortgage Investment will post 0.38 EPS for the current fiscal year.

Cherry Hill Mortgage Investment Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.15 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.60 annualized dividend and a dividend yield of 21.35%. Cherry Hill Mortgage Investment’s dividend payout ratio is currently -39.47%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CHMI. Wolverine Asset Management LLC acquired a new stake in Cherry Hill Mortgage Investment in the 3rd quarter valued at $665,000. Penserra Capital Management LLC grew its holdings in shares of Cherry Hill Mortgage Investment by 22.9% in the 3rd quarter. Penserra Capital Management LLC now owns 265,787 shares of the real estate investment trust’s stock valued at $964,000 after acquiring an additional 49,600 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Cherry Hill Mortgage Investment by 7.9% in the second quarter. Renaissance Technologies LLC now owns 507,684 shares of the real estate investment trust’s stock valued at $1,843,000 after acquiring an additional 37,300 shares during the last quarter. Geode Capital Management LLC raised its holdings in 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 in the last quarter. Finally, Hudson Valley Investment Advisors Inc. ADV boosted its position in 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 valued at $102,000 after purchasing an additional 16,000 shares during the last quarter. 18.49% of the stock is currently owned by institutional investors.

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.