Cherry Hill Mortgage Investment (NYSE:CHMI) Cut to “Hold” at Citizens Jmp

Citizens Jmp downgraded shares of Cherry Hill Mortgage Investment (NYSE:CHMI) from a market outperform rating to a hold rating in a research report released on Tuesday morning, Marketbeat reports.

Several other equities analysts have also commented on the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Cherry Hill Mortgage Investment in a report on Wednesday, June 24th. Wall Street Zen downgraded shares of Cherry Hill Mortgage Investment from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 1st. Finally, B. Riley Financial lowered shares of Cherry Hill Mortgage Investment to a “neutral” rating in a research report on Monday. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Cherry Hill Mortgage Investment has an average rating of “Hold” and a consensus target price of $3.00.

Cherry Hill Mortgage Investment Price Performance

NYSE:CHMI opened at $2.91 on Tuesday. The company has a market capitalization of $107.41 million, a price-to-earnings ratio of 16.15 and a beta of 0.93. The business has a 50 day moving average of $2.38 and a 200 day moving average of $2.52. Cherry Hill Mortgage Investment has a 1-year low of $2.17 and a 1-year high of $3.04.

Cherry Hill Mortgage Investment (NYSE:CHMI) last issued its quarterly earnings results on Monday, August 10th. The real estate investment trust reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.02. The business had revenue of $7.88 million for the quarter, compared to analysts’ expectations of $10.75 million. Cherry Hill Mortgage Investment had a net margin of 26.43% and a return on equity of 21.49%. As a group, sell-side analysts anticipate that Cherry Hill Mortgage Investment will post 0.59 EPS for the current year.

Cherry Hill Mortgage Investment Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th were issued a $0.10 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $0.40 annualized dividend and a dividend yield of 13.8%. Cherry Hill Mortgage Investment’s dividend payout ratio (DPR) is currently 222.22%.

Institutional Investors Weigh In On Cherry Hill Mortgage Investment

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. XTX Topco Ltd purchased a new stake in Cherry Hill Mortgage Investment during the 4th quarter valued at $27,000. Glenview Trust co purchased a new position in shares of Cherry Hill Mortgage Investment in the second quarter valued at about $34,000. Envestnet Asset Management Inc. purchased a new position in shares of Cherry Hill Mortgage Investment in the second quarter valued at about $45,000. Gables Capital Management Inc. bought a new position in shares of Cherry Hill Mortgage Investment during the second quarter valued at about $46,000. Finally, JPMorgan Chase & Co. raised its stake in shares of Cherry Hill Mortgage Investment by 27,027.0% during the third quarter. JPMorgan Chase & Co. now owns 20,074 shares of the real estate investment trust’s stock valued at $48,000 after acquiring an additional 20,000 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 is a real estate investment trust that focuses on acquiring, financing and managing residential mortgage loans and mortgage-related securities. The company’s portfolio consists primarily of agency and non-agency residential mortgage loans secured by single-family residences, together with mortgage-backed securities issued or guaranteed by Fannie Mae, Freddie Mac and Ginnie Mae.

CHMI employs active portfolio management strategies intended to generate current income and total return for its shareholders.