Cherry Hill Mortgage Investment (NYSE:CHMI) Rating Increased to Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded Cherry Hill Mortgage Investment from hold to buy, adding to a mixed analyst picture that still leaves the stock with a consensus rating of hold and an average price target of $3.00.
• The company recently reported Q1 earnings of $0.14 per share, beating estimates of $0.12, though revenue came in below expectations at $4.64 million versus $10.30 million forecast.
• CHMI shares were down 0.2% and opened at $2.59; the stock has traded between $2.17 and $3.31 over the past 52 weeks.

Cherry Hill Mortgage Investment (NYSE:CHMI - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a note issued to investors on Saturday.

A number of other equities research analysts have also commented on CHMI. Citizens Jmp upped their price target on shares of Cherry Hill Mortgage Investment from $2.75 to $3.00 and gave the company a "market outperform" rating in a report on Thursday, January 22nd. Citigroup reiterated an "outperform" rating on shares of Cherry Hill Mortgage Investment in a report on Thursday, January 22nd. Credit Suisse Group set a $3.00 price target on shares of Cherry Hill Mortgage Investment in a report on Thursday, January 22nd. Finally, Weiss Ratings reiterated a "sell (d)" rating on shares of Cherry Hill Mortgage Investment in a report on Friday, March 27th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $3.00.

Cherry Hill Mortgage Investment Stock Down 0.2%

NYSE:CHMI opened at $2.59 on Friday. The company has a fifty day moving average of $2.64 and a 200 day moving average of $2.56. Cherry Hill Mortgage Investment has a 52 week low of $2.17 and a 52 week high of $3.31. The firm has a market capitalization of $94.97 million, a P/E ratio of 23.50 and a beta of 0.98.

Cherry Hill Mortgage Investment (NYSE:CHMI - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The real estate investment trust reported $0.14 EPS for the quarter, beating analysts' consensus estimates of $0.12 by $0.02. Cherry Hill Mortgage Investment had a net margin of 18.88% and a return on equity of 17.78%. The company had revenue of $4.64 million during the quarter, compared to analyst estimates of $10.30 million. As a group, analysts anticipate that Cherry Hill Mortgage Investment will post 0.55 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CHMI. XTX Topco Ltd purchased a new position in shares of Cherry Hill Mortgage Investment in the 4th quarter valued at approximately $27,000. Naviter Wealth LLC purchased a new position in shares of Cherry Hill Mortgage Investment in the 4th quarter valued at approximately $29,000. Glenview Trust co purchased a new position in shares of Cherry Hill Mortgage Investment in the 2nd quarter valued at approximately $34,000. Envestnet Asset Management Inc. purchased a new position in shares of Cherry Hill Mortgage Investment in the 2nd quarter valued at approximately $45,000. Finally, JPMorgan Chase & Co. lifted its stake in shares of Cherry Hill Mortgage Investment by 27,027.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 20,074 shares of the real estate investment trust's stock valued at $48,000 after purchasing an additional 20,000 shares during the period. Hedge funds and other institutional investors own 18.49% of the company's stock.

About Cherry Hill Mortgage Investment

Cherry Hill Mortgage Investment Corporation is a real estate investment trust that focuses on acquiring, financing and managing residential mortgage loans and mortgage-related securities. The company's portfolio consists primarily of agency and non-agency residential mortgage loans secured by single-family residences, together with mortgage-backed securities issued or guaranteed by Fannie Mae, Freddie Mac and Ginnie Mae.

CHMI employs active portfolio management strategies intended to generate current income and total return for its shareholders.

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