Cherry Hill Mortgage Investment (NYSE:CHMI) Raised to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Cherry Hill Mortgage Investment (NYSE:CHMI) from a hold rating to a buy rating in a report published on Saturday morning.

Cherry Hill Mortgage Investment Price Performance

Shares of CHMI opened at $2.53 on Friday. The stock has a 50-day moving average of $2.81 and a 200-day moving average of $2.93. The company has a market cap of $91.00 million, a PE ratio of -4.86 and a beta of 0.98. Cherry Hill Mortgage Investment has a one year low of $2.34 and a one year high of $3.81.

Cherry Hill Mortgage Investment (NYSE:CHMI) last issued its earnings results on Thursday, August 7th. The real estate investment trust reported $0.10 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.02). The firm had revenue of $6.04 million during the quarter, compared to analyst estimates of $2.19 million. Cherry Hill Mortgage Investment had a negative net margin of 14.28% and a positive return on equity of 15.55%. Analysts expect that Cherry Hill Mortgage Investment will post 0.38 EPS for the current fiscal year.

Cherry Hill Mortgage Investment Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be paid a $0.10 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $0.40 annualized dividend and a dividend yield of 15.8%. Cherry Hill Mortgage Investment’s dividend payout ratio (DPR) is currently -115.38%.

Institutional Trading of Cherry Hill Mortgage Investment

Large investors have recently made changes to their positions in the company. Jane Street Group LLC acquired a new stake in shares of Cherry Hill Mortgage Investment in the 4th quarter valued at about $68,000. Northern Trust Corp boosted its stake in Cherry Hill Mortgage Investment by 30.9% during the 4th quarter. Northern Trust Corp now owns 128,350 shares of the real estate investment trust’s stock valued at $339,000 after purchasing an additional 30,330 shares during the last quarter. Vident Advisory LLC acquired a new position in Cherry Hill Mortgage Investment during the 1st quarter valued at about $123,000. Banco BTG Pactual S.A. acquired a new position in Cherry Hill Mortgage Investment during the 1st quarter valued at about $36,000. Finally, Wealth Preservation Advisors LLC acquired a new position in Cherry Hill Mortgage Investment during the 1st quarter valued at about $33,000. 18.49% of the stock is currently owned by institutional investors and hedge funds.

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. It operates through Investments in RMBS (residential mortgage-backed securities) and Investments in Servicing Related Assets segments.