Wall Street Zen Downgrades Cherry Hill Mortgage Investment (NYSE:CHMI) to Buy

Key Points

• Wall Street Zen downgraded Cherry Hill Mortgage Investment from “strong-buy” to “buy,” while Weiss Ratings maintained a “sell (d)” rating. Overall, analysts rate the stock “Hold,” with an average price target of $3.00.
• CHMI shares opened at $2.27, up 0.7%, near the lower end of their 12-month range of $2.17 to $3.04. The company has a market capitalization of approximately $83.2 million.
• Cherry Hill reported quarterly EPS of $0.14, beating estimates of $0.12, although revenue of $4.64 million fell short of the $10.30 million consensus estimate. Institutional investors and hedge funds own 18.49% of the company.

Cherry Hill Mortgage Investment (NYSE:CHMI - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a note issued to investors on Saturday.

Separately, Weiss Ratings reiterated a "sell (d)" rating on shares of Cherry Hill Mortgage Investment in a report on Wednesday, June 24th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Cherry Hill Mortgage Investment has an average rating of "Hold" and an average target price of $3.00.

Cherry Hill Mortgage Investment Stock Up 0.7%

Shares of NYSE CHMI opened at $2.27 on Friday. Cherry Hill Mortgage Investment has a 12 month low of $2.17 and a 12 month high of $3.04. The company has a market cap of $83.22 million, a price-to-earnings ratio of 20.59 and a beta of 0.92. The business has a fifty day simple moving average of $2.35 and a 200-day simple moving average of $2.52.

Cherry Hill Mortgage Investment (NYSE:CHMI - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The real estate investment trust reported $0.14 earnings per share for the quarter, topping analysts' consensus estimates of $0.12 by $0.02. The firm had revenue of $4.64 million for the quarter, compared to analysts' expectations of $10.30 million. Cherry Hill Mortgage Investment had a return on equity of 17.95% and a net margin of 18.88%. As a group, sell-side analysts expect that Cherry Hill Mortgage Investment will post 0.57 EPS for the current fiscal year.

Institutional Investors Weigh In On Cherry Hill Mortgage Investment

Institutional investors have recently bought and sold shares of the business. XTX Topco Ltd acquired a new position in shares of Cherry Hill Mortgage Investment in the 4th quarter valued at about $27,000. Naviter Wealth LLC acquired a new stake in shares of Cherry Hill Mortgage Investment during the fourth quarter worth approximately $29,000. Glenview Trust co acquired a new stake in shares of Cherry Hill Mortgage Investment during the second quarter worth approximately $34,000. Envestnet Asset Management Inc. purchased a new position in Cherry Hill Mortgage Investment during the second quarter valued at approximately $45,000. Finally, Ritholtz Wealth Management purchased a new position in Cherry Hill Mortgage Investment during the fourth quarter valued at approximately $51,000. 18.49% of the stock is currently owned by institutional investors and hedge funds.

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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