Cherry Hill Mortgage Investment (NYSE:CHMI) Rating Increased to Hold at StockNews.com

Cherry Hill Mortgage Investment (NYSE:CHMI) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Friday.

Separately, Janney Montgomery Scott started coverage on Cherry Hill Mortgage Investment in a research note on Thursday. They issued a “buy” rating and a $4.00 price objective on the stock.

Cherry Hill Mortgage Investment Stock Performance

Cherry Hill Mortgage Investment stock remained flat at $2.62 during trading hours on Friday. The company’s stock had a trading volume of 294,634 shares, compared to its average volume of 328,867. Cherry Hill Mortgage Investment has a 52-week low of $2.50 and a 52-week high of $4.11. The firm has a 50 day moving average price of $2.80 and a 200-day moving average price of $3.34. The firm has a market capitalization of $82.86 million, a price-to-earnings ratio of -1.72 and a beta of 1.38.

Cherry Hill Mortgage Investment (NYSE:CHMI) last posted its quarterly earnings data on Tuesday, November 12th. The real estate investment trust reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.06). The firm had revenue of $14.33 million for the quarter. Cherry Hill Mortgage Investment had a positive return on equity of 15.18% and a negative net margin of 60.97%. During the same period in the prior year, the company posted $0.16 earnings per share. Equities research analysts forecast that Cherry Hill Mortgage Investment will post 0.38 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Wolverine Asset Management LLC bought a new position in Cherry Hill Mortgage Investment during the third quarter valued at about $665,000. Members Trust Co bought a new stake in shares of Cherry Hill Mortgage Investment during the third quarter valued at approximately $47,000. Renaissance Technologies LLC increased its position in shares of Cherry Hill Mortgage Investment by 7.9% during the second quarter. Renaissance Technologies LLC now owns 507,684 shares of the real estate investment trust’s stock valued at $1,843,000 after purchasing an additional 37,300 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Cherry Hill Mortgage Investment in the third quarter valued at $49,000. Finally, Penserra Capital Management LLC boosted its stake in Cherry Hill Mortgage Investment by 22.9% during the third quarter. Penserra Capital Management LLC now owns 265,787 shares of the real estate investment trust’s stock worth $964,000 after buying an additional 49,600 shares in the last quarter. Institutional investors and hedge funds own 18.49% of the company’s stock.

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.