Cherry Hill Mortgage Investment (NYSE:CHMI) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research lowered shares of Cherry Hill Mortgage Investment (NYSE:CHMI) from a buy rating to a hold rating in a research note published on Wednesday 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. “

A number of other brokerages also recently issued reports on CHMI. ValuEngine upgraded shares of Yelp from a sell rating to a hold rating in a research note on Wednesday, April 3rd. TheStreet downgraded shares of Urban Outfitters from a b- rating to a c+ rating in a research note on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company’s stock. Cherry Hill Mortgage Investment presently has a consensus rating of Hold and an average target price of $19.33.

Shares of Cherry Hill Mortgage Investment stock opened at $15.81 on Wednesday. The firm has a market capitalization of $263.40 million, a P/E ratio of 7.03 and a beta of 0.35. Cherry Hill Mortgage Investment has a 12-month low of $15.70 and a 12-month high of $19.35. The business’s 50-day moving average price is $16.18.

Cherry Hill Mortgage Investment (NYSE:CHMI) last announced its quarterly earnings data on Thursday, May 9th. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.06. The firm had revenue of $6.23 million for the quarter, compared to the consensus estimate of $5.23 million. Cherry Hill Mortgage Investment had a negative net margin of 29.80% and a positive return on equity of 12.36%. On average, analysts expect that Cherry Hill Mortgage Investment will post 2.14 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 30th. Stockholders of record on Friday, June 28th will be issued a $0.49 dividend. The ex-dividend date is Thursday, June 27th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 12.40%. Cherry Hill Mortgage Investment’s dividend payout ratio (DPR) is currently 87.11%.

Hedge funds have recently bought and sold shares of the company. Nisa Investment Advisors LLC raised its holdings in Cherry Hill Mortgage Investment by 51.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,974 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 674 shares during the last quarter. BNP Paribas Arbitrage SA raised its holdings in Cherry Hill Mortgage Investment by 534.5% in the 1st quarter. BNP Paribas Arbitrage SA now owns 3,344 shares of the real estate investment trust’s stock valued at $58,000 after buying an additional 2,817 shares during the last quarter. Synovus Financial Corp raised its holdings in Cherry Hill Mortgage Investment by 29.7% in the 1st quarter. Synovus Financial Corp now owns 4,166 shares of the real estate investment trust’s stock valued at $72,000 after buying an additional 955 shares during the last quarter. Advisor Group Inc. raised its holdings in Cherry Hill Mortgage Investment by 675.9% in the 4th quarter. Advisor Group Inc. now owns 4,182 shares of the real estate investment trust’s stock valued at $73,000 after buying an additional 3,643 shares during the last quarter. Finally, Denali Advisors LLC bought a new position in Cherry Hill Mortgage Investment in the 2nd quarter valued at approximately $90,000. 59.50% of the stock is owned by hedge funds and other institutional investors.

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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