Cherry Hill Mortgage Investment Corporation (CHMI) Given Consensus Rating of “Buy” by Brokerages

Shares of Cherry Hill Mortgage Investment Corporation (NYSE:CHMI) have been assigned a consensus rating of “Buy” from the seven brokerages that are currently covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $18.50.

CHMI has been the subject of several analyst reports. Zacks Investment Research upgraded Cherry Hill Mortgage Investment Corporation from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research note on Wednesday, April 26th. ValuEngine upgraded Cherry Hill Mortgage Investment Corporation from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 13th. Finally, Citigroup Inc. restated 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 note on Sunday, May 14th.

Cherry Hill Mortgage Investment Corporation (NYSE CHMI) traded down 0.59% on Monday, hitting $18.52. 149,547 shares of the stock were exchanged. The firm has a market cap of $235.11 million, a PE ratio of 3.14 and a beta of 0.38. Cherry Hill Mortgage Investment Corporation has a 52-week low of $15.87 and a 52-week high of $19.43. The stock’s 50 day moving average price is $18.90 and its 200 day moving average price is $18.15.

Cherry Hill Mortgage Investment Corporation (NYSE:CHMI) last released its quarterly earnings results on Tuesday, August 8th. The real estate investment trust reported $0.53 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.02. Cherry Hill Mortgage Investment Corporation had a return on equity of 9.49% and a net margin of 138.90%. The business had revenue of $5.71 million during the quarter, compared to analysts’ expectations of $4.79 million. During the same quarter in the prior year, the business earned $0.53 earnings per share. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. Equities research analysts forecast 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 dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 10.52%. The ex-dividend date of this dividend was Wednesday, June 28th. Cherry Hill Mortgage Investment Corporation’s dividend payout ratio is presently 28.08%.

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A number of hedge funds and other institutional investors have recently made changes to their positions in CHMI. Wells Fargo & Company MN raised its position in shares of Cherry Hill Mortgage Investment Corporation by 0.9% in the second quarter. Wells Fargo & Company MN now owns 10,928 shares of the real estate investment trust’s stock worth $202,000 after buying an additional 100 shares in the last quarter. Monarch Partners Asset Management LLC raised its position in shares of Cherry Hill Mortgage Investment Corporation by 8.7% in the second quarter. Monarch Partners Asset Management LLC now owns 24,862 shares of the real estate investment trust’s stock worth $459,000 after buying an additional 2,000 shares in the last quarter. Sei Investments Co. raised its position in shares of Cherry Hill Mortgage Investment Corporation by 102.6% in the second quarter. Sei Investments Co. now owns 8,570 shares of the real estate investment trust’s stock worth $158,000 after buying an additional 4,339 shares in the last quarter. Segantii Capital Management Ltd raised its position in shares of Cherry Hill Mortgage Investment Corporation by 469.2% in the first quarter. Segantii Capital Management Ltd now owns 7,400 shares of the real estate investment trust’s stock worth $126,000 after buying an additional 6,100 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Cherry Hill Mortgage Investment Corporation by 68.1% in the first quarter. Bank of New York Mellon Corp now owns 21,471 shares of the real estate investment trust’s stock worth $367,000 after buying an additional 8,701 shares in the last quarter. 49.20% of the stock is currently owned by hedge funds and other institutional investors.

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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