Cherry Hill Mortgage Investment Corporation (CHMI) Reaches New 1-Year High at $19.24

Cherry Hill Mortgage Investment Corporation (NYSE:CHMI)’s share price hit a new 52-week high on Monday . The company traded as high as $19.24 and last traded at $19.24, with a volume of 147,604 shares. The stock had previously closed at $18.96.

A number of brokerages have weighed in on CHMI. Zacks Investment Research raised shares of Cherry Hill Mortgage Investment Corporation from a “hold” rating to a “buy” rating and set a $21.00 target price for the company in a research note on Tuesday, July 11th. Citigroup Inc. reiterated a “buy” rating and set a $19.00 price target (down previously from $20.00) on shares of Cherry Hill Mortgage Investment Corporation in a research report on Sunday, May 14th. Finally, ValuEngine cut shares of Cherry Hill Mortgage Investment Corporation from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 2nd. Four research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Cherry Hill Mortgage Investment Corporation has an average rating of “Buy” and a consensus target price of $19.00.

The company has a 50 day moving average of $18.89 and a 200 day moving average of $18.15. The firm has a market capitalization of $233.19 million, a P/E ratio of 3.11 and a beta of 0.38.

Cherry Hill Mortgage Investment Corporation (NYSE:CHMI) last issued its quarterly earnings data on Tuesday, August 8th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.02. The business had revenue of $5.71 million during the quarter, compared to analyst estimates of $4.79 million. Cherry Hill Mortgage Investment Corporation had a net margin of 138.90% and a return on equity of 9.49%. The firm’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter last year, the business earned $0.53 EPS. On average, equities analysts expect that Cherry Hill Mortgage Investment Corporation will post $2.05 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 25th. Investors of record on Friday, June 30th were issued a $0.49 dividend. The ex-dividend date was Wednesday, June 28th. This represents a $1.96 dividend on an annualized basis and a yield of 10.68%. Cherry Hill Mortgage Investment Corporation’s dividend payout ratio (DPR) is presently 28.08%.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Russell Investments Group Ltd. purchased a new position in Cherry Hill Mortgage Investment Corporation during the fourth quarter valued at about $208,000. Stifel Financial Corp purchased a new position in Cherry Hill Mortgage Investment Corporation during the first quarter valued at about $1,265,000. Wells Fargo & Company MN raised its position in Cherry Hill Mortgage Investment Corporation by 77.4% in the first quarter. Wells Fargo & Company MN now owns 10,828 shares of the real estate investment trust’s stock valued at $185,000 after buying an additional 4,724 shares during the last quarter. Cannell Capital LLC purchased a new position in Cherry Hill Mortgage Investment Corporation during the first quarter valued at about $325,000. Finally, JPMorgan Chase & Co. raised its position in Cherry Hill Mortgage Investment Corporation by 239.5% in the first quarter. JPMorgan Chase & Co. now owns 59,992 shares of the real estate investment trust’s stock valued at $1,025,000 after buying an additional 42,322 shares during the last quarter. Institutional investors and hedge funds own 49.20% of the company’s stock.

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Cherry Hill Mortgage Investment Corporation Company Profile

Cherry Hill Mortgage Investment Corporation is a residential real estate finance company. The Company is focused on acquiring, investing in and managing residential mortgage assets in the United States. Its principal objective is to generate attractive current yields and risk-adjusted total returns for its stockholders over the long term, primarily through dividend distributions and secondarily through capital appreciation.

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