Cherry Hill Mortgage Investment Corporation (NYSE:CHMI) Stock Has Average Price Target of $3.00

Shares of Cherry Hill Mortgage Investment Corporation (NYSE:CHMI) have earned a consensus rating of “Hold” from the five ratings firms that are covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $3.00.

Several equities analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of Cherry Hill Mortgage Investment from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 1st. Citizens Jmp cut shares of Cherry Hill Mortgage Investment from a “market outperform” rating to a “hold” rating in a research note on Tuesday, August 11th. B. Riley Financial downgraded Cherry Hill Mortgage Investment from a “strong-buy” rating to a “hold” rating in a report on Monday, August 10th. Finally, Weiss Ratings raised Cherry Hill Mortgage Investment from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, September 2nd.

Cherry Hill Mortgage Investment Price Performance

Shares of NYSE CHMI opened at $2.62 on Tuesday. The stock has a market capitalization of $96.62 million, a PE ratio of 14.53 and a beta of 1.01. Cherry Hill Mortgage Investment has a fifty-two week low of $2.17 and a fifty-two week high of $2.98. The business has a fifty day moving average price of $2.75 and a two-hundred day moving average price of $2.58.

Cherry Hill Mortgage Investment (NYSE:CHMI) last released its earnings results on Monday, August 10th. The real estate investment trust reported $0.15 EPS for the quarter, beating the consensus estimate of $0.13 by $0.02. The firm had revenue of $7.88 million for the quarter, compared to analyst estimates of $10.75 million. Cherry Hill Mortgage Investment had a net margin of 26.43% and a return on equity of 21.74%. On average, equities analysts expect that Cherry Hill Mortgage Investment will post 0.59 EPS for the current year.

Cherry Hill Mortgage Investment Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, September 30th will be issued a $0.10 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $0.40 annualized dividend and a yield of 15.3%. Cherry Hill Mortgage Investment’s payout ratio is presently 222.22%.

Hedge Funds Weigh In On Cherry Hill Mortgage Investment

A number of institutional investors and hedge funds have recently modified their holdings of the business. Glenview Trust Co bought a new stake in Cherry Hill Mortgage Investment during the 2nd quarter valued at $29,000. Corient Private Wealth LP bought a new position in shares of Cherry Hill Mortgage Investment in the second quarter valued at $397,000. Gables Capital Management Inc. bought a new position in shares of Cherry Hill Mortgage Investment in the second quarter valued at $46,000. BlackRock Inc. acquired a new position in shares of Cherry Hill Mortgage Investment during the second quarter valued at about $1,104,000. Finally, Money Concepts Capital Corp acquired a new position in shares of Cherry Hill Mortgage Investment during the first quarter valued at about $68,000. 18.49% of the stock is currently owned by institutional investors.

About Cherry Hill Mortgage Investment

Cherry Hill Mortgage Investment Corporation (NYSE: CHMI) is a mortgage real estate investment trust that focuses on investing in residential mortgage assets. The company seeks to generate income primarily through a portfolio of mortgage-related investments and related financing activities.

Its investments have included agency mortgage-backed securities, which are backed by mortgages guaranteed or issued by government-sponsored enterprises, as well as mortgage servicing rights and other residential mortgage assets.