Cherry Hill Mortgage Investment (NYSE:CHMI) Research Coverage Started at Janney Montgomery Scott

Janney Montgomery Scott assumed coverage on shares of Cherry Hill Mortgage Investment (NYSE:CHMI) in a research report sent to investors on Thursday morning, MarketBeat reports. The firm issued a buy rating and a $4.00 price target 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 research note on Wednesday, December 11th.

Cherry Hill Mortgage Investment Price Performance

Shares of CHMI opened at $2.62 on Thursday. The stock has a market capitalization of $82.86 million, a PE ratio of -1.72 and a beta of 1.38. The business’s fifty day moving average price is $2.80 and its 200 day moving average price is $3.33. Cherry Hill Mortgage Investment has a 12-month low of $2.50 and a 12-month high of $4.11.

Cherry Hill Mortgage Investment (NYSE:CHMI) last posted its quarterly earnings results on Tuesday, November 12th. The real estate investment trust reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.06). Cherry Hill Mortgage Investment had a positive return on equity of 15.18% and a negative net margin of 60.97%. The business had revenue of $14.33 million during the quarter. During the same quarter in the prior year, the firm posted $0.16 EPS. As a group, research analysts anticipate that Cherry Hill Mortgage Investment will post 0.38 earnings per share for the current fiscal year.

Cherry Hill Mortgage Investment Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.15 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.60 annualized dividend and a dividend yield of 22.90%. Cherry Hill Mortgage Investment’s dividend payout ratio is currently -39.47%.

Institutional Investors Weigh In On Cherry Hill Mortgage Investment

Hedge funds have recently made changes to their positions in the business. Members Trust Co acquired a new stake in Cherry Hill Mortgage Investment in the 3rd quarter valued at approximately $47,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Cherry Hill Mortgage Investment in the third quarter worth $49,000. Barclays PLC acquired a new position in shares of Cherry Hill Mortgage Investment during the third quarter valued at $52,000. Hudson Valley Investment Advisors Inc. ADV raised its stake in shares of Cherry Hill Mortgage Investment by 133.3% during the third quarter. Hudson Valley Investment Advisors Inc. ADV now owns 28,000 shares of the real estate investment trust’s stock valued at $102,000 after purchasing an additional 16,000 shares in the last quarter. Finally, Wolverine Asset Management LLC acquired a new stake in Cherry Hill Mortgage Investment in the third quarter worth about $665,000. Institutional investors own 18.49% of the company’s stock.

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.