Cherry Hill Mortgage Investment (NYSE:CHMI) Upgraded by Citizens Jmp to Outperform Rating

Cherry Hill Mortgage Investment (NYSE:CHMI) was upgraded by investment analysts at Citizens Jmp from a “market perform” rating to an “outperform” rating in a research note issued on Thursday,Finviz reports. The brokerage presently has a $2.75 price objective on the real estate investment trust’s stock. Citizens Jmp’s price objective suggests a potential upside of 16.53% from the company’s previous close.

A number of other analysts have also recently issued reports on CHMI. Weiss Ratings reissued a “sell (d+)” rating on shares of Cherry Hill Mortgage Investment in a research note on Wednesday, October 8th. Janney Montgomery Scott cut Cherry Hill Mortgage Investment from a “buy” rating to a “neutral” rating in a research note on Monday, October 13th. Finally, Wall Street Zen cut shares of Cherry Hill Mortgage Investment from a “buy” rating to a “hold” rating in a research note on Sunday, September 28th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $3.38.

Cherry Hill Mortgage Investment Stock Performance

NYSE CHMI opened at $2.36 on Thursday. The business has a 50 day simple moving average of $2.56 and a 200 day simple moving average of $2.77. Cherry Hill Mortgage Investment has a 52-week low of $2.25 and a 52-week high of $3.68. The stock has a market cap of $85.05 million, a price-to-earnings ratio of -4.54 and a beta of 0.98.

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

Institutional Investors Weigh In On Cherry Hill Mortgage Investment

Large investors have recently made changes to their positions in the stock. Ritholtz Wealth Management acquired a new stake in shares of Cherry Hill Mortgage Investment in the 2nd quarter valued at approximately $66,000. Vident Advisory LLC acquired a new stake in shares of Cherry Hill Mortgage Investment in the 1st quarter valued at approximately $123,000. Banco BTG Pactual S.A. acquired a new stake in shares of Cherry Hill Mortgage Investment in the 1st quarter valued at approximately $36,000. Wealth Preservation Advisors LLC acquired a new stake in shares of Cherry Hill Mortgage Investment in the 1st quarter valued at approximately $33,000. Finally, Hudson Bay Capital Management LP acquired a new stake in shares of Cherry Hill Mortgage Investment in the 2nd quarter valued at approximately $374,000. Institutional investors and hedge funds own 18.49% 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. It operates through Investments in RMBS (residential mortgage-backed securities) and Investments in Servicing Related Assets segments.