B. Riley Reiterates Buy Rating for Cherry Hill Mortgage Investment (NYSE:CHMI)

B. Riley reiterated their buy rating on shares of Cherry Hill Mortgage Investment (NYSE:CHMI) in a report issued on Wednesday, TipRanks reports. The brokerage currently has a $15.00 price target on the real estate investment trust’s stock.

A number of other equities research analysts also recently issued reports on CHMI. Zacks Investment Research upgraded Cherry Hill Mortgage Investment from a strong sell rating to a hold rating in a research report on Wednesday, October 23rd. ValuEngine upgraded Cherry Hill Mortgage Investment from a sell rating to a hold rating in a research report on Wednesday, October 2nd. Finally, JMP Securities decreased their price objective on Cherry Hill Mortgage Investment from $20.00 to $16.00 and set a market outperform rating on the stock in a research report on Thursday, September 5th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Cherry Hill Mortgage Investment has a consensus rating of Buy and an average target price of $17.50.

Cherry Hill Mortgage Investment stock traded up $0.27 during midday trading on Wednesday, reaching $14.52. 331,205 shares of the stock traded hands, compared to its average volume of 146,356. The stock’s fifty day moving average is $13.32 and its 200-day moving average is $14.81. Cherry Hill Mortgage Investment has a 12 month low of $11.81 and a 12 month high of $19.35. The stock has a market cap of $245.34 million, a P/E ratio of 6.45 and a beta of 0.44.

The business also recently disclosed a 0.49000 dividend, which was paid on Tuesday, October 29th. Shareholders of record on Monday, September 30th were given a dividend of $0.40 per share. The ex-dividend date was Friday, September 27th. This represents a yield of 15.4%. Cherry Hill Mortgage Investment’s dividend payout ratio (DPR) is presently 71.11%.

A number of hedge funds have recently modified their holdings of CHMI. BlackRock Inc. raised its holdings in shares of Cherry Hill Mortgage Investment by 18.9% in the second quarter. BlackRock Inc. now owns 1,668,628 shares of the real estate investment trust’s stock worth $26,699,000 after buying an additional 265,591 shares during the period. Vanguard Group Inc. raised its holdings in shares of Cherry Hill Mortgage Investment by 17.4% in the second quarter. Vanguard Group Inc. now owns 984,661 shares of the real estate investment trust’s stock worth $15,755,000 after buying an additional 145,809 shares during the period. Russell Investments Group Ltd. purchased a new stake in shares of Cherry Hill Mortgage Investment in the third quarter worth approximately $456,000. Wedbush Securities Inc. purchased a new stake in shares of Cherry Hill Mortgage Investment in the third quarter worth approximately $411,000. Finally, Nisa Investment Advisors LLC raised its holdings in shares of Cherry Hill Mortgage Investment by 973.5% in the third quarter. Nisa Investment Advisors LLC now owns 21,190 shares of the real estate investment trust’s stock worth $278,000 after buying an additional 19,216 shares during the period. Institutional investors and hedge funds own 53.68% of the company’s stock.

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. 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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