Cherry Hill Mortgage Investment (NYSE:CHMI) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Cherry Hill Mortgage Investment (NYSE:CHMIGet Rating) from a sell rating to a hold rating in a research note issued to investors on Friday, Zacks.com reports.

According to Zacks, “Cherry Hill Mortgage Investment Corporation is a residential real estate finance company that acquires, invests in and manages residential mortgage assets in the United States. Cherry Hill Mortgage Investment Corporation is based in United States. “

Separately, StockNews.com began coverage on shares of Cherry Hill Mortgage Investment in a research report on Thursday, March 31st. They issued a hold rating on the stock.

CHMI stock opened at $7.27 on Friday. The company’s 50 day simple moving average is $7.67 and its 200-day simple moving average is $8.32. The firm has a market capitalization of $132.75 million, a PE ratio of 55.92 and a beta of 1.15. Cherry Hill Mortgage Investment has a 12 month low of $6.93 and a 12 month high of $10.68.

Cherry Hill Mortgage Investment (NYSE:CHMIGet Rating) last released its quarterly earnings results on Tuesday, March 15th. The real estate investment trust reported $0.32 EPS for the quarter, beating the consensus estimate of $0.28 by $0.04. Cherry Hill Mortgage Investment had a net margin of 51.61% and a return on equity of 16.83%. During the same period last year, the firm earned $0.37 EPS. Sell-side analysts expect that Cherry Hill Mortgage Investment will post 1.45 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 26th. Investors of record on Thursday, March 31st will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Wednesday, March 30th. This represents a $1.08 dividend on an annualized basis and a yield of 14.86%. Cherry Hill Mortgage Investment’s dividend payout ratio (DPR) is currently 830.77%.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Penserra Capital Management LLC purchased a new position in Cherry Hill Mortgage Investment during the third quarter worth approximately $82,000. Barclays PLC raised its stake in Cherry Hill Mortgage Investment by 194.9% during the third quarter. Barclays PLC now owns 11,666 shares of the real estate investment trust’s stock worth $103,000 after purchasing an additional 7,710 shares during the period. Schonfeld Strategic Advisors LLC purchased a new position in Cherry Hill Mortgage Investment during the fourth quarter worth approximately $116,000. Bank of New York Mellon Corp raised its stake in Cherry Hill Mortgage Investment by 62.9% during the third quarter. Bank of New York Mellon Corp now owns 16,607 shares of the real estate investment trust’s stock worth $147,000 after purchasing an additional 6,412 shares during the period. Finally, O Shaughnessy Asset Management LLC raised its stake in shares of Cherry Hill Mortgage Investment by 1,087.8% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 20,003 shares of the real estate investment trust’s stock valued at $165,000 after acquiring an additional 18,319 shares during the period. Hedge funds and other institutional investors own 27.73% of the company’s stock.

About Cherry Hill Mortgage Investment (Get Rating)

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

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