Cherry Hill Mortgage Investment (NYSE:CHMI) Rating Increased to Strong-Buy at B. Riley

B. Riley upgraded shares of Cherry Hill Mortgage Investment (NYSE:CHMI) to a strong-buy rating in a research note issued to investors on Tuesday morning,Zacks.com reports.

A number of other brokerages also recently commented on CHMI. StockNews.com raised Cherry Hill Mortgage Investment from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. Janney Montgomery Scott initiated coverage on shares of Cherry Hill Mortgage Investment in a report on Thursday, January 2nd. They issued a “buy” rating and a $4.00 price target on the stock.

Cherry Hill Mortgage Investment Trading Down 1.4 %

NYSE CHMI opened at $2.81 on Tuesday. The business has a fifty day simple moving average of $2.77 and a 200 day simple moving average of $3.31. Cherry Hill Mortgage Investment has a 12 month low of $2.50 and a 12 month high of $4.10. The firm has a market capitalization of $88.87 million, a P/E ratio of -1.85 and a beta of 1.38.

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

Cherry Hill Mortgage Investment Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.60 annualized dividend and a dividend yield of 21.35%. Cherry Hill Mortgage Investment’s payout ratio is -39.47%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Barclays PLC purchased a new stake in shares of Cherry Hill Mortgage Investment during the third quarter worth $52,000. Geode Capital Management LLC boosted its stake in Cherry Hill Mortgage Investment by 7.6% in the 3rd quarter. Geode Capital Management LLC now owns 337,392 shares of the real estate investment trust’s stock worth $1,225,000 after purchasing an additional 23,947 shares during the period. Penserra Capital Management LLC grew its holdings in Cherry Hill Mortgage Investment by 22.9% during the 3rd quarter. Penserra Capital Management LLC now owns 265,787 shares of the real estate investment trust’s stock valued at $964,000 after buying an additional 49,600 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Cherry Hill Mortgage Investment during the third quarter valued at about $49,000. Finally, Wolverine Asset Management LLC bought a new position in shares of Cherry Hill Mortgage Investment in the third quarter valued at approximately $665,000. 18.49% of the stock is owned by institutional investors.

About Cherry Hill Mortgage Investment

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.