Cherry Hill Mortgage Investment (NYSE:CHMI) Upgraded by B. Riley to “Strong-Buy” Rating

B. Riley upgraded shares of Cherry Hill Mortgage Investment (NYSE:CHMI) to a strong-buy rating in a research note released on Tuesday morning,Zacks.com reports.

Several other equities research analysts have also recently weighed in on CHMI. StockNews.com upgraded shares of Cherry Hill Mortgage Investment from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. Janney Montgomery Scott assumed coverage on Cherry Hill Mortgage Investment in a research report on Thursday, January 2nd. They issued a “buy” rating and a $4.00 price objective for the company.

Cherry Hill Mortgage Investment Stock Down 1.4 %

NYSE CHMI opened at $2.81 on Tuesday. The company has a market capitalization of $88.87 million, a price-to-earnings ratio of -1.85 and a beta of 1.38. Cherry Hill Mortgage Investment has a twelve month low of $2.50 and a twelve month high of $4.10. The stock has a fifty day simple moving average of $2.77 and a 200 day simple moving average of $3.31.

Cherry Hill Mortgage Investment (NYSE:CHMI) last issued its quarterly earnings data 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 company had revenue of $14.33 million for the quarter. During the same period last year, the business earned $0.16 EPS. Research analysts expect 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 declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 21.35%. The ex-dividend date is Tuesday, December 31st. Cherry Hill Mortgage Investment’s payout ratio is -39.47%.

Hedge Funds Weigh In On Cherry Hill Mortgage Investment

A number of institutional investors and hedge funds have recently made changes to their positions in CHMI. Renaissance Technologies LLC boosted its holdings in Cherry Hill Mortgage Investment by 7.9% in the second quarter. Renaissance Technologies LLC now owns 507,684 shares of the real estate investment trust’s stock worth $1,843,000 after acquiring an additional 37,300 shares in the last quarter. Members Trust Co bought a new position in shares of Cherry Hill Mortgage Investment in the 3rd quarter worth $47,000. Hudson Valley Investment Advisors Inc. ADV grew its position in 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 valued at $102,000 after purchasing an additional 16,000 shares during the period. Forum Financial Management LP increased its stake in Cherry Hill Mortgage Investment by 4.4% during 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 purchasing an additional 12,600 shares in the last quarter. Finally, Wolverine Asset Management LLC acquired a new position in Cherry Hill Mortgage Investment during the third quarter worth $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.