Cherry Hill Mortgage Investment Corporation (NYSE:CHMI) Given Average Rating of "Hold" by Brokerages

Key Points

• Cherry Hill Mortgage Investment has a consensus “Hold” rating from five analysts: four holds and one buy. The average 12-month price target is $3.00, slightly above the reported $2.95 share price.
• Institutional ownership stands at 18.49%, with Summit Financial more than doubling its stake and several firms—including BlackRock and Corient—establishing new positions.
• The REIT reported quarterly EPS of $0.15, beating the $0.13 consensus estimate, but revenue of $7.88 million fell short of the $10.75 million forecast. Its quarterly dividend is $0.10 per share, implying a 13.6% annualized yield, though the payout ratio is high at 222.22%.

Cherry Hill Mortgage Investment Corporation (NYSE:CHMI - Get Free Report) has been given a consensus rating of "Hold" by the five research firms that are currently covering the company, MarketBeat reports. Four analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $3.00.

CHMI has been the topic of several research analyst reports. Wall Street Zen downgraded Cherry Hill Mortgage Investment from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 1st. Citizens Jmp cut Cherry Hill Mortgage Investment from a "market outperform" rating to a "hold" rating in a research report on Tuesday, August 11th. B. Riley Financial downgraded Cherry Hill Mortgage Investment from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 10th. Finally, Weiss Ratings raised shares of Cherry Hill Mortgage Investment from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday.

Institutional Trading of Cherry Hill Mortgage Investment

Several institutional investors and hedge funds have recently modified their holdings of the company. Summit Financial LLC boosted its stake in shares of Cherry Hill Mortgage Investment by 106.1% in the fourth quarter. Summit Financial LLC now owns 1,010,876 shares of the real estate investment trust's stock worth $2,679,000 after acquiring an additional 520,291 shares during the period. BlackRock Inc. bought a new stake in Cherry Hill Mortgage Investment during the 2nd quarter valued at approximately $1,104,000. Corient Private Wealth LLC purchased a new position in Cherry Hill Mortgage Investment in the 2nd quarter worth approximately $908,000. Corient Private Wealth LP purchased a new position in Cherry Hill Mortgage Investment in the 2nd quarter worth approximately $397,000. Finally, Hudson Bay Capital Management LP bought a new position in Cherry Hill Mortgage Investment in the 2nd quarter worth approximately $374,000. 18.49% of the stock is currently owned by institutional investors.

Cherry Hill Mortgage Investment Stock Performance

Shares of NYSE:CHMI opened at $2.95 on Friday. The firm has a market cap of $109.00 million, a price-to-earnings ratio of 16.39 and a beta of 0.97. The business has a 50-day simple moving average of $2.55 and a two-hundred day simple moving average of $2.55. Cherry Hill Mortgage Investment has a fifty-two week low of $2.17 and a fifty-two week high of $3.04.

Cherry Hill Mortgage Investment (NYSE:CHMI - Get Free Report) last announced its quarterly earnings results on Monday, August 10th. The real estate investment trust reported $0.15 EPS for the quarter, topping analysts' consensus estimates of $0.13 by $0.02. The firm had revenue of $7.88 million during the quarter, compared to analyst estimates of $10.75 million. Cherry Hill Mortgage Investment had a net margin of 26.43% and a return on equity of 21.74%. As a group, research analysts predict that Cherry Hill Mortgage Investment will post 0.59 earnings per share for the current year.

Cherry Hill Mortgage Investment Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th were paid a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.40 annualized dividend and a dividend yield of 13.6%. Cherry Hill Mortgage Investment's dividend payout ratio (DPR) is 222.22%.

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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