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

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

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

Cherry Hill Mortgage Investment Stock Performance

Shares of CHMI stock opened at $2.62 on Thursday. Cherry Hill Mortgage Investment has a 1 year low of $2.50 and a 1 year high of $4.11. The business’s fifty day moving average is $2.80 and its 200-day moving average is $3.33. The stock has a market cap of $82.86 million, a PE ratio of -1.72 and a beta of 1.38.

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 firm had revenue of $14.33 million for the quarter. During the same period in the prior year, the company earned $0.16 earnings per share. Equities research analysts predict that Cherry Hill Mortgage Investment will post 0.38 earnings per share for the current year.

Cherry Hill Mortgage Investment Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given 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 -39.47%.

Institutional Trading of Cherry Hill Mortgage Investment

Institutional investors and hedge funds have recently bought and sold shares of the stock. Wolverine Asset Management LLC purchased a new position in shares of Cherry Hill Mortgage Investment in the third quarter worth approximately $665,000. Members Trust Co purchased a new position in Cherry Hill Mortgage Investment during the 3rd quarter worth approximately $47,000. Renaissance Technologies LLC raised its stake in Cherry Hill Mortgage Investment by 7.9% during the 2nd quarter. Renaissance Technologies LLC now owns 507,684 shares of the real estate investment trust’s stock valued at $1,843,000 after purchasing an additional 37,300 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Cherry Hill Mortgage Investment in the third quarter valued at $49,000. Finally, Penserra Capital Management LLC boosted its position in shares of Cherry Hill Mortgage Investment by 22.9% in the third quarter. Penserra Capital Management LLC now owns 265,787 shares of the real estate investment trust’s stock worth $964,000 after buying an additional 49,600 shares during the period. Institutional investors and hedge funds own 18.49% of the company’s stock.

Cherry Hill Mortgage Investment Company Profile

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.