Cherry Hill Mortgage Investment (CHMI) Raised to “Buy” at Zacks Investment Research

Cherry Hill Mortgage Investment (NYSE:CHMI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Friday. The brokerage currently has a $21.00 price target on the real estate investment trust’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 10.70% from the company’s current price.

According to Zacks, “Cherry Hill Mortgage Investment Corporation is a residential real estate finance company that acquires, invests in and manages residential mortgage assets in the United States. Cherry Hill Mortgage Investment Corporation is based in United States. “

A number of other brokerages also recently commented on CHMI. ValuEngine downgraded shares of Cherry Hill Mortgage Investment from a “hold” rating to a “sell” rating in a research note on Wednesday, August 8th. TheStreet upgraded shares of Cherry Hill Mortgage Investment from a “c” rating to a “b” rating in a research note on Wednesday, October 31st. Finally, B. Riley set a $19.00 target price on shares of Cherry Hill Mortgage Investment and gave the stock a “buy” rating in a research note on Friday, August 10th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $20.00.

Shares of CHMI stock traded up $0.09 on Friday, reaching $18.97. 202,700 shares of the stock were exchanged, compared to its average volume of 127,990. The company has a market cap of $288.06 million, a P/E ratio of 8.55 and a beta of 0.23. Cherry Hill Mortgage Investment has a twelve month low of $16.01 and a twelve month high of $19.20.

Cherry Hill Mortgage Investment (NYSE:CHMI) last issued its earnings results on Wednesday, November 7th. The real estate investment trust reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. The firm had revenue of $6.07 million during the quarter, compared to the consensus estimate of $3.43 million. Cherry Hill Mortgage Investment had a net margin of 147.31% and a return on equity of 10.42%. As a group, equities analysts expect that Cherry Hill Mortgage Investment will post 2.02 earnings per share for the current fiscal year.

Several hedge funds have recently modified their holdings of CHMI. Principal Financial Group Inc. boosted its stake in Cherry Hill Mortgage Investment by 10.3% in the first quarter. Principal Financial Group Inc. now owns 29,279 shares of the real estate investment trust’s stock valued at $514,000 after acquiring an additional 2,723 shares in the last quarter. Assetmark Inc. boosted its stake in Cherry Hill Mortgage Investment by 58.0% in the second quarter. Assetmark Inc. now owns 8,322 shares of the real estate investment trust’s stock valued at $149,000 after acquiring an additional 3,056 shares in the last quarter. Rhumbline Advisers boosted its stake in Cherry Hill Mortgage Investment by 27.9% in the second quarter. Rhumbline Advisers now owns 14,034 shares of the real estate investment trust’s stock valued at $251,000 after acquiring an additional 3,065 shares in the last quarter. California Public Employees Retirement System boosted its stake in Cherry Hill Mortgage Investment by 2.8% in the second quarter. California Public Employees Retirement System now owns 123,376 shares of the real estate investment trust’s stock valued at $2,203,000 after acquiring an additional 3,376 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Cherry Hill Mortgage Investment by 5.0% in the second quarter. Bank of New York Mellon Corp now owns 88,943 shares of the real estate investment trust’s stock valued at $1,589,000 after acquiring an additional 4,233 shares in the last quarter. Hedge funds and other institutional investors own 56.16% of the company’s stock.

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. The company operates through Investments in RMBS and Investments in Servicing Related Assets segments. It manages a portfolio of servicing related assets, residential mortgage-backed securities (RMBS), and prime residential mortgage loans, as well as other residential mortgage assets.

Read More: Diversification in Your Portfolio

Get a free copy of the Zacks research report on Cherry Hill Mortgage Investment (CHMI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Cherry Hill Mortgage Investment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cherry Hill Mortgage Investment and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply