Cherry Hill Mortgage Investment (NYSE:CHMI) Earns Buy Rating from Analysts at Janney Montgomery Scott

Janney Montgomery Scott started coverage on shares of Cherry Hill Mortgage Investment (NYSE:CHMI) in a research report sent to investors on Thursday morning, Marketbeat reports. The brokerage issued a buy rating and a $4.00 price objective on the real estate investment trust’s stock.

Separately, StockNews.com downgraded Cherry Hill Mortgage Investment from a “hold” rating to a “sell” rating in a report on Wednesday, December 11th.

Cherry Hill Mortgage Investment Price Performance

Cherry Hill Mortgage Investment stock opened at $2.62 on Thursday. Cherry Hill Mortgage Investment has a 12-month low of $2.50 and a 12-month high of $4.11. The company has a market capitalization of $82.86 million, a price-to-earnings ratio of -1.72 and a beta of 1.39. The firm’s fifty day moving average price is $2.82 and its 200 day moving average price is $3.35.

Cherry Hill Mortgage Investment (NYSE:CHMI) last announced its earnings results on Tuesday, November 12th. The real estate investment trust reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.06). Cherry Hill Mortgage Investment had a negative net margin of 60.97% and a positive return on equity of 15.18%. The business had revenue of $14.33 million for the quarter. During the same period in the previous year, the company earned $0.16 EPS. Analysts forecast that Cherry Hill Mortgage Investment will post 0.38 earnings per share for the current fiscal year.

Cherry Hill Mortgage Investment Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a $0.15 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 22.90%. Cherry Hill Mortgage Investment’s dividend payout ratio (DPR) is presently -39.47%.

Hedge Funds Weigh In On Cherry Hill Mortgage Investment

A number of hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC lifted its stake in Cherry Hill Mortgage Investment by 7.9% during the second quarter. Renaissance Technologies LLC now owns 507,684 shares of the real estate investment trust’s stock worth $1,843,000 after purchasing an additional 37,300 shares during the last quarter. Members Trust Co acquired a new stake in shares of Cherry Hill Mortgage Investment during the third quarter worth $47,000. Hudson Valley Investment Advisors Inc. ADV lifted its position in shares of Cherry Hill Mortgage Investment by 133.3% in the 3rd quarter. Hudson Valley Investment Advisors Inc. ADV now owns 28,000 shares of the real estate investment trust’s stock worth $102,000 after buying an additional 16,000 shares during the last quarter. Forum Financial Management LP boosted its holdings in shares of Cherry Hill Mortgage Investment by 4.4% in the 3rd quarter. Forum Financial Management LP now owns 298,600 shares of the real estate investment trust’s stock valued at $1,084,000 after buying an additional 12,600 shares during the period. Finally, Wolverine Asset Management LLC acquired a new position in shares of Cherry Hill Mortgage Investment in the 3rd quarter valued at about $665,000. 18.49% of the stock is currently owned by institutional investors and hedge funds.

About Cherry Hill Mortgage Investment

Cherry Hill Mortgage Investment Corporation, a residential real estate finance company, acquires, invests in, and manages residential mortgage assets in the United States. It operates through Investments in RMBS (residential mortgage-backed securities) and Investments in Servicing Related Assets segments.