Cherry Hill Mortgage Investment (NYSE:CHMI) Lowered to "Hold" Rating by Wall Street Zen

Key Points

• Cherry Hill Mortgage Investment was downgraded from a "buy" to a "hold" rating by Wall Street Zen, reflecting concerns about the company's recent performance.
• The company reported earnings of $0.10 per share, which fell short of analysts' expectations of $0.12, despite a revenue of $6.04 million significantly exceeding the consensus estimate.
• Institutional investors have recently increased their positions in Cherry Hill Mortgage Investment, with several funds purchasing new shares in recent quarters.

Cherry Hill Mortgage Investment (NYSE:CHMI - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Sunday.

Cherry Hill Mortgage Investment Trading Up 1.0%

CHMI opened at $2.52 on Friday. The stock has a fifty day simple moving average of $2.80 and a two-hundred day simple moving average of $2.91. The company has a market cap of $90.64 million, a price-to-earnings ratio of -4.84 and a beta of 0.98. Cherry Hill Mortgage Investment has a 12-month low of $2.34 and a 12-month high of $3.78.

Cherry Hill Mortgage Investment (NYSE:CHMI - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.12 by ($0.02). The firm had revenue of $6.04 million during the quarter, compared to the consensus estimate of $2.19 million. Cherry Hill Mortgage Investment had a positive return on equity of 15.55% and a negative net margin of 14.28%. On average, analysts predict that Cherry Hill Mortgage Investment will post 0.38 EPS for the current year.

Hedge Funds Weigh In On Cherry Hill Mortgage Investment

Institutional investors and hedge funds have recently modified their holdings of the stock. Wealth Preservation Advisors LLC bought a new position in shares of Cherry Hill Mortgage Investment during the first quarter valued at $33,000. Glenview Trust co bought a new position in shares of Cherry Hill Mortgage Investment during the second quarter valued at $34,000. Banco BTG Pactual S.A. bought a new position in shares of Cherry Hill Mortgage Investment during the first quarter valued at $36,000. Envestnet Asset Management Inc. bought a new position in shares of Cherry Hill Mortgage Investment during the second quarter valued at $45,000. Finally, Ritholtz Wealth Management bought a new position in shares of Cherry Hill Mortgage Investment during the second quarter valued at $66,000. 18.49% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.