JPMorgan Chase & Co. Cuts Stake in Cherry Hill Mortgage Investment Corp (CHMI)

JPMorgan Chase & Co. lessened its position in shares of Cherry Hill Mortgage Investment Corp (NYSE:CHMI) by 49.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 66,036 shares of the real estate investment trust’s stock after selling 64,172 shares during the quarter. JPMorgan Chase & Co.’s holdings in Cherry Hill Mortgage Investment were worth $1,203,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Schwab Charles Investment Management Inc. acquired a new position in Cherry Hill Mortgage Investment in the second quarter valued at about $353,000. Rhumbline Advisers acquired a new position in Cherry Hill Mortgage Investment in the second quarter valued at about $239,000. Bank of New York Mellon Corp lifted its stake in Cherry Hill Mortgage Investment by 224.2% in the second quarter. Bank of New York Mellon Corp now owns 69,603 shares of the real estate investment trust’s stock valued at $1,286,000 after buying an additional 48,132 shares during the period. Prudential Financial Inc. acquired a new position in Cherry Hill Mortgage Investment in the second quarter valued at about $650,000. Finally, Wells Fargo & Company MN lifted its stake in Cherry Hill Mortgage Investment by 0.9% in the second quarter. Wells Fargo & Company MN now owns 10,928 shares of the real estate investment trust’s stock valued at $202,000 after buying an additional 100 shares during the period. 58.00% of the stock is currently owned by institutional investors and hedge funds.

CHMI has been the topic of several analyst reports. Zacks Investment Research raised Cherry Hill Mortgage Investment from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research note on Wednesday, October 4th. FBR & Co reissued a “buy” rating and issued a $19.50 target price on shares of Cherry Hill Mortgage Investment in a research note on Tuesday, October 10th. Finally, B. Riley reissued a “buy” rating on shares of Cherry Hill Mortgage Investment in a research note on Wednesday, November 1st. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $19.50.

Cherry Hill Mortgage Investment Corp (CHMI) opened at $17.64 on Friday. Cherry Hill Mortgage Investment Corp has a one year low of $16.40 and a one year high of $19.43. The firm has a market capitalization of $224.41, a PE ratio of 2.62 and a beta of 0.37.

Cherry Hill Mortgage Investment (NYSE:CHMI) last released its earnings results on Tuesday, November 7th. The real estate investment trust reported $0.52 earnings per share for the quarter, meeting the consensus estimate of $0.52. Cherry Hill Mortgage Investment had a return on equity of 9.49% and a net margin of 136.70%. The firm had revenue of $5.84 million for the quarter, compared to analyst estimates of $5.55 million. During the same quarter in the prior year, the firm posted $0.54 earnings per share. equities research analysts anticipate that Cherry Hill Mortgage Investment Corp will post 2.2 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 30th. Shareholders of record on Friday, December 29th will be paid a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 11.11%. The ex-dividend date is Thursday, December 28th. Cherry Hill Mortgage Investment’s payout ratio is 29.12%.

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Cherry Hill Mortgage Investment 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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Institutional Ownership by Quarter for Cherry Hill Mortgage Investment (NYSE:CHMI)

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