Trading Report: Today: Cherry Hill Mortgage Investment Corp. (CHMI) Downgraded by Zacks Investment Research

Today: Cherry Hill Mortgage Investment Corp. (CHMI) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Cherry Hill Mortgage Investment Corp. (NYSE:CHMI) from a strong-buy rating to a hold rating in a research note issued to investors on Tuesday morning.

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. “

A number of other research firms have also weighed in on CHMI. TheStreet raised shares of Cherry Hill Mortgage Investment Corp. from a sell rating to a hold rating in a report on Monday, October 3rd. Wedbush assumed coverage on shares of Cherry Hill Mortgage Investment Corp. in a report on Wednesday, October 5th. They set a neutral rating and a $17.50 price target for the company. Finally, Citigroup Inc. raised their price target on shares of Cherry Hill Mortgage Investment Corp. from $19.00 to $21.00 and gave the company a buy rating in a report on Thursday, August 11th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Cherry Hill Mortgage Investment Corp. has an average rating of Hold and a consensus target price of $18.80.

Shares of Cherry Hill Mortgage Investment Corp. (NYSE:CHMI) opened at 16.19 on Tuesday. The stock’s market capitalization is $121.88 million. Cherry Hill Mortgage Investment Corp. has a one year low of $12.60 and a one year high of $18.02. The stock has a 50 day moving average of $16.78 and a 200-day moving average of $15.56.

Cherry Hill Mortgage Investment Corp. (NYSE:CHMI) last released its quarterly earnings data on Tuesday, August 9th. The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.04. Cherry Hill Mortgage Investment Corp. had a negative net margin of 8.80% and a positive return on equity of 10.11%. During the same period last year, the company earned $0.48 earnings per share. Equities analysts predict that Cherry Hill Mortgage Investment Corp. will post $0.42 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 25th. Shareholders of record on Friday, September 30th will be issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 12.11%. The ex-dividend date of this dividend is Wednesday, September 28th. Cherry Hill Mortgage Investment Corp.’s dividend payout ratio is currently -632.24%.

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Parametric Portfolio Associates LLC raised its position in shares of Cherry Hill Mortgage Investment Corp. by 74.4% in the second quarter. Parametric Portfolio Associates LLC now owns 26,961 shares of the company’s stock valued at $420,000 after buying an additional 11,502 shares in the last quarter. KCG Holdings Inc. bought a new position in shares of Cherry Hill Mortgage Investment Corp. during the second quarter valued at $200,000. BlackRock Fund Advisors raised its position in shares of Cherry Hill Mortgage Investment Corp. by 44.4% in the second quarter. BlackRock Fund Advisors now owns 174,088 shares of the company’s stock valued at $2,711,000 after buying an additional 53,543 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Cherry Hill Mortgage Investment Corp. by 0.5% in the second quarter. Vanguard Group Inc. now owns 401,188 shares of the company’s stock valued at $6,246,000 after buying an additional 2,163 shares in the last quarter. Finally, Emerald Acquisition Ltd. bought a new position in shares of Cherry Hill Mortgage Investment Corp. during the second quarter valued at $311,000. 48.23% of the stock is owned by institutional investors.

Cherry Hill Mortgage Investment Corp. Company Profile

Cherry Hill Mortgage Investment Corporation is a residential real estate finance company. The Company is focused on acquiring, investing in and managing residential mortgage assets in the United States. Its principal objective is to generate attractive current yields and risk-adjusted total returns for its stockholders over the long term, primarily through dividend distributions and secondarily through capital appreciation.

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