Cherry Hill Mortgage Investment Corporation (NYSE:CHMI) Receives Average Recommendation of “Hold” from Brokerages

Cherry Hill Mortgage Investment Corporation (NYSE:CHMI) has earned an average rating of “Hold” from the five brokerages that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $3.00.

CHMI has been the subject of a number of research reports. Wall Street Zen downgraded Cherry Hill Mortgage Investment from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 1st. B. Riley Financial lowered shares of Cherry Hill Mortgage Investment to a “neutral” rating in a report on Monday. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Cherry Hill Mortgage Investment in a research note on Wednesday, June 24th.

Cherry Hill Mortgage Investment Stock Performance

NYSE:CHMI traded up $0.34 during midday trading on Monday, reaching $2.75. 4,115,882 shares of the stock traded hands, compared to its average volume of 225,197. The stock has a market capitalization of $101.07 million, a PE ratio of 25.02 and a beta of 0.93. The business has a 50-day moving average of $2.34 and a two-hundred day moving average of $2.51. Cherry Hill Mortgage Investment has a 12-month low of $2.17 and a 12-month high of $3.04.

Cherry Hill Mortgage Investment (NYSE:CHMI) last posted its quarterly earnings data on Monday, August 10th. The real estate investment trust reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.02. Cherry Hill Mortgage Investment had a net margin of 18.88% and a return on equity of 17.95%. Research analysts anticipate that Cherry Hill Mortgage Investment will post 0.57 earnings per share for the current year.

Cherry Hill Mortgage Investment Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Tuesday, June 30th were given a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 14.5%. Cherry Hill Mortgage Investment’s dividend payout ratio is 363.64%.

Hedge Funds Weigh In On Cherry Hill Mortgage Investment

A number of institutional investors and hedge funds have recently made changes to their positions in CHMI. XTX Topco Ltd purchased a new position in Cherry Hill Mortgage Investment during the fourth quarter worth $27,000. Glenview Trust co acquired a new stake in Cherry Hill Mortgage Investment during the second quarter worth about $34,000. Envestnet Asset Management Inc. purchased a new stake in Cherry Hill Mortgage Investment during the second quarter worth approximately $45,000. Gables Capital Management Inc. acquired a new stake in Cherry Hill Mortgage Investment in the 2nd quarter valued at $46,000. Finally, JPMorgan Chase & Co. boosted its holdings in Cherry Hill Mortgage Investment by 27,027.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 20,074 shares of the real estate investment trust’s stock worth $48,000 after acquiring an additional 20,000 shares during the period. 18.49% of the stock is owned by institutional investors and hedge funds.

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.