Cherry Hill Mortgage Investment (NYSE:CHMI) Upgraded to Hold by Zacks Investment Research

Zacks Investment Research upgraded shares of Cherry Hill Mortgage Investment (NYSE:CHMI) from a strong sell rating to a hold rating in a report issued on Friday morning, Zacks.com reports.

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. “

Other analysts have also recently issued reports about the company. TheStreet cut Cherry Hill Mortgage Investment from a b- rating to a c rating in a research report on Thursday, May 30th. ValuEngine cut Cherry Hill Mortgage Investment from a sell rating to a strong sell rating in a research report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $19.33.

Shares of CHMI traded down $0.55 on Friday, reaching $14.33. 791,498 shares of the stock traded hands, compared to its average volume of 232,031. The firm has a market cap of $244.21 million, a price-to-earnings ratio of 6.37 and a beta of 0.35. Cherry Hill Mortgage Investment has a 12 month low of $13.71 and a 12 month high of $19.35. The stock’s 50-day moving average is $15.68.

Cherry Hill Mortgage Investment (NYSE:CHMI) last released its quarterly earnings data on Thursday, August 8th. The real estate investment trust reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.02. The business had revenue of $5.51 million for the quarter, compared to analysts’ expectations of $6.08 million. Cherry Hill Mortgage Investment had a positive return on equity of 12.36% and a negative net margin of 29.80%. Research analysts forecast that Cherry Hill Mortgage Investment will post 2.12 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 30th. Stockholders of record on Friday, June 28th were given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 13.68%. The ex-dividend date of this dividend was Thursday, June 27th. Cherry Hill Mortgage Investment’s dividend payout ratio is presently 87.11%.

A number of large investors have recently made changes to their positions in the business. Nisa Investment Advisors LLC grew its position in Cherry Hill Mortgage Investment by 51.8% in the second quarter. Nisa Investment Advisors LLC now owns 1,974 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 674 shares during the period. Synovus Financial Corp grew its position in Cherry Hill Mortgage Investment by 29.7% in the first quarter. Synovus Financial Corp now owns 4,166 shares of the real estate investment trust’s stock valued at $72,000 after acquiring an additional 955 shares during the period. C M Bidwell & Associates Ltd. bought a new stake in Cherry Hill Mortgage Investment in the second quarter valued at $28,000. Campbell & CO Investment Adviser LLC grew its position in Cherry Hill Mortgage Investment by 14.0% in the second quarter. Campbell & CO Investment Adviser LLC now owns 18,102 shares of the real estate investment trust’s stock valued at $290,000 after acquiring an additional 2,225 shares during the period. Finally, Advantage Investment Management LLC grew its position in Cherry Hill Mortgage Investment by 16.7% in the second quarter. Advantage Investment Management LLC now owns 16,311 shares of the real estate investment trust’s stock valued at $261,000 after acquiring an additional 2,337 shares during the period. Hedge funds and other institutional investors own 59.46% 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.

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