Cherry Hill Mortgage Investment Corporation (NYSE:CHMI) Receives Average Recommendation of “Hold” from Brokerages

Cherry Hill Mortgage Investment Corporation (NYSE:CHMI) has received an average recommendation of “Hold” from the five brokerages that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, one has assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $3.3750.

CHMI has been the subject of a number of recent research reports. Citizens Jmp upgraded Cherry Hill Mortgage Investment from a “market perform” rating to an “outperform” rating and set a $2.75 price objective for the company in a research note on Thursday. Janney Montgomery Scott downgraded Cherry Hill Mortgage Investment from a “buy” rating to a “neutral” rating in a research note on Monday, October 13th. Wall Street Zen downgraded Cherry Hill Mortgage Investment from a “buy” rating to a “hold” rating in a research note on Sunday, September 28th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Cherry Hill Mortgage Investment in a research note on Wednesday, October 8th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Corient Private Wealth LLC bought a new position in shares of Cherry Hill Mortgage Investment in the second quarter worth $908,000. Hudson Bay Capital Management LP bought a new position in shares of Cherry Hill Mortgage Investment in the second quarter worth $374,000. Jane Street Group LLC grew its stake in shares of Cherry Hill Mortgage Investment by 262.5% in the first quarter. Jane Street Group LLC now owns 93,672 shares of the real estate investment trust’s stock worth $309,000 after purchasing an additional 67,832 shares in the last quarter. Vident Advisory LLC grew its stake in shares of Cherry Hill Mortgage Investment by 58.2% in the second quarter. Vident Advisory LLC now owns 59,061 shares of the real estate investment trust’s stock worth $161,000 after purchasing an additional 21,731 shares in the last quarter. Finally, Sheets Smith Investment Management bought a new position in shares of Cherry Hill Mortgage Investment in the third quarter worth $132,000. Institutional investors own 18.49% of the company’s stock.

Cherry Hill Mortgage Investment Trading Up 0.9%

CHMI stock opened at $2.36 on Thursday. The firm has a market cap of $85.05 million, a P/E ratio of -4.54 and a beta of 0.98. Cherry Hill Mortgage Investment has a 12-month low of $2.25 and a 12-month high of $3.68. The stock’s 50 day simple moving average is $2.56 and its 200 day simple moving average is $2.77.

Cherry Hill Mortgage Investment (NYSE:CHMI) last posted its quarterly earnings results on Thursday, August 7th. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.02). The firm had revenue of $6.04 million for the quarter, compared to analyst estimates of $2.19 million. Cherry Hill Mortgage Investment had a negative net margin of 14.28% and a positive return on equity of 15.55%. On average, research analysts forecast that Cherry Hill Mortgage Investment will post 0.38 EPS for the current fiscal year.

Cherry Hill Mortgage Investment Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Tuesday, September 30th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 16.9%. The ex-dividend date was Tuesday, September 30th. Cherry Hill Mortgage Investment’s dividend payout ratio is presently -76.92%.

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.