Janney Montgomery Scott Begins Coverage on Cherry Hill Mortgage Investment (NYSE:CHMI)

Analysts at Janney Montgomery Scott began coverage on shares of Cherry Hill Mortgage Investment (NYSE:CHMI) in a research note issued on Thursday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $4.00 price target on the real estate investment trust’s stock. Janney Montgomery Scott’s price objective suggests a potential upside of 52.67% from the company’s current price.

Separately, StockNews.com downgraded Cherry Hill Mortgage Investment from a “hold” rating to a “sell” rating in a report on Wednesday, December 11th.

Cherry Hill Mortgage Investment Stock Performance

CHMI opened at $2.62 on Thursday. Cherry Hill Mortgage Investment has a 1 year low of $2.50 and a 1 year high of $4.11. The company’s 50 day simple moving average is $2.80 and its 200 day simple moving average is $3.34. The stock has a market capitalization of $82.86 million, a PE ratio of -1.72 and a beta of 1.38.

Cherry Hill Mortgage Investment (NYSE:CHMI) last announced its quarterly earnings results on Tuesday, November 12th. The real estate investment trust reported $0.08 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.06). Cherry Hill Mortgage Investment had a positive return on equity of 15.18% and a negative net margin of 60.97%. The firm had revenue of $14.33 million for the quarter. During the same period in the previous year, the company earned $0.16 EPS. As a group, sell-side analysts expect that Cherry Hill Mortgage Investment will post 0.38 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC bought a new stake in Cherry Hill Mortgage Investment in the 3rd quarter valued at about $52,000. Geode Capital Management LLC increased its stake in shares of Cherry Hill Mortgage Investment by 7.6% in the third quarter. Geode Capital Management LLC now owns 337,392 shares of the real estate investment trust’s stock valued at $1,225,000 after purchasing an additional 23,947 shares during the period. Penserra Capital Management LLC raised its holdings in shares of Cherry Hill Mortgage Investment by 22.9% during the third quarter. Penserra Capital Management LLC now owns 265,787 shares of the real estate investment trust’s stock valued at $964,000 after buying an additional 49,600 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Cherry Hill Mortgage Investment during the third quarter worth approximately $49,000. Finally, Wolverine Asset Management LLC bought a new position in Cherry Hill Mortgage Investment in the 3rd quarter worth approximately $665,000. 18.49% of the stock is currently owned by 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. It operates through Investments in RMBS (residential mortgage-backed securities) and Investments in Servicing Related Assets segments.