Cherry Hill Mortgage Investment (NYSE:CHMI) Cut to “Buy” at Wall Street Zen

Wall Street Zen lowered shares of Cherry Hill Mortgage Investment (NYSE:CHMI) from a strong-buy rating to a buy rating in a research note issued to investors on Saturday morning.

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Cherry Hill Mortgage Investment in a research report on Wednesday, June 24th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $3.00.

Cherry Hill Mortgage Investment Stock Up 2.4%

CHMI stock opened at $2.31 on Friday. The company has a market cap of $85.05 million, a P/E ratio of 21.05 and a beta of 0.92. Cherry Hill Mortgage Investment has a twelve month low of $2.17 and a twelve month high of $3.04. The business has a fifty day moving average of $2.35 and a 200-day moving average of $2.52.

Cherry Hill Mortgage Investment (NYSE:CHMI) last issued its quarterly earnings results on Thursday, May 7th. The real estate investment trust reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.02. The business had revenue of $4.64 million for the quarter, compared to analyst estimates of $10.30 million. Cherry Hill Mortgage Investment had a return on equity of 17.95% and a net margin of 18.88%. As a group, equities research analysts anticipate that Cherry Hill Mortgage Investment will post 0.57 earnings per share for the current fiscal year.

Cherry Hill Mortgage Investment Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 17.3%. The ex-dividend date of this dividend was Tuesday, June 30th. Cherry Hill Mortgage Investment’s payout ratio is currently 363.64%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. XTX Topco Ltd bought a new position in shares of Cherry Hill Mortgage Investment in the 4th quarter worth $27,000. Naviter Wealth LLC bought a new stake in Cherry Hill Mortgage Investment in the fourth quarter valued at about $29,000. Glenview Trust co bought a new stake in Cherry Hill Mortgage Investment in the second quarter valued at about $34,000. Envestnet Asset Management Inc. acquired a new position in Cherry Hill Mortgage Investment in the second quarter valued at about $45,000. Finally, JPMorgan Chase & Co. lifted its stake in Cherry Hill Mortgage Investment by 27,027.0% in the third quarter. JPMorgan Chase & Co. now owns 20,074 shares of the real estate investment trust’s stock valued at $48,000 after buying an additional 20,000 shares during the period. Institutional investors and hedge funds own 18.49% of the company’s stock.

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.