Today, Cherry Hill Mortgage Investment Corp. (CHMI) Now Covered by Wedbush

Today, Cherry Hill Mortgage Investment Corp. (CHMI) Now Covered by Wedbush

Equities researchers at Wedbush initiated coverage on shares of Cherry Hill Mortgage Investment Corp. (NYSE:CHMI) in a research note issued on Wednesday. The firm set a “neutral” rating and a $17.50 price target on the stock. Wedbush’s target price would indicate a potential upside of 6.71% from the company’s previous close.

CHMI has been the topic of a number of other research reports. Zacks Investment Research upgraded Cherry Hill Mortgage Investment Corp. from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a research report on Friday, August 12th. Citigroup Inc. increased their target price on Cherry Hill Mortgage Investment Corp. from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, August 11th. Finally, TheStreet raised Cherry Hill Mortgage Investment Corp. from a “sell” rating to a “hold” rating in a research note on Monday. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $18.80.

Cherry Hill Mortgage Investment Corp. (NYSE:CHMI) opened at 16.40 on Wednesday. Cherry Hill Mortgage Investment Corp. has a 52 week low of $12.60 and a 52 week high of $18.02. The firm’s market capitalization is $123.46 million. The stock has a 50 day moving average price of $16.73 and a 200-day moving average price of $15.48.

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

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 25th. Stockholders of record on Friday, September 30th will be paid a dividend of $0.49 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 11.95%. Cherry Hill Mortgage Investment Corp.’s dividend payout ratio (DPR) is currently -632.24%.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada raised its stake in Cherry Hill Mortgage Investment Corp. by 6.6% in the first quarter. Royal Bank of Canada now owns 29,000 shares of the company’s stock worth $410,000 after buying an additional 1,797 shares in the last quarter. Vanguard Group Inc. raised its stake in 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 worth $6,246,000 after buying an additional 2,163 shares in the last quarter. Renaissance Technologies LLC raised its stake in Cherry Hill Mortgage Investment Corp. by 5.3% in the first quarter. Renaissance Technologies LLC now owns 99,900 shares of the company’s stock worth $1,415,000 after buying an additional 5,008 shares in the last quarter. Clear Harbor Asset Management LLC raised its stake in Cherry Hill Mortgage Investment Corp. by 10.7% in the first quarter. Clear Harbor Asset Management LLC now owns 115,668 shares of the company’s stock worth $1,638,000 after buying an additional 11,147 shares in the last quarter. Finally, Parametric Portfolio Associates LLC raised its stake in 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 worth $420,000 after buying an additional 11,502 shares in the last quarter. 48.23% of the stock is currently owned by hedge funds and other institutional investors.

Cherry Hill Mortgage Investment Corp. Company Profile

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