Cherry Hill Mortgage Investment (NYSE:CHMI) cut to sell at Zacks Investment Research

Cherry Hill Mortgage Investment (NYSE: CHMI – Get Note) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released Friday, Zacks.com reports.

According to Zacks, “Cherry Hill Mortgage Investment Corporation is a residential real estate finance company that acquires, invests and manages residential mortgage assets in the United States. Cherry Hill Mortgage Investment Corporation is based in the United States.

Separately, StockNews.com began covering Cherry Hill Mortgage Investment in a research note on Thursday, March 31. They issued a “hold” rating for the company.

Shares of CHMI were down $0.22 during Friday trading hours, hitting $6.55. 175,203 shares of the company were traded, against an average volume of 199,296. The company has a market capitalization of $119.62 million, a P/E ratio of 50.38 and a beta of 1.15. The company’s 50-day moving average is $7.53 and its two-hundred-day moving average is $8.20. Cherry Hill Mortgage Investment has a 1 year minimum of $6.55 and a 1 year maximum of $10.68.

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Cherry Hill Mortgage Investment (NYSE:CHMI – Get Rating) last reported results on Tuesday, March 15. The real estate investment trust reported earnings per share (EPS) of $0.32 for the quarter, beating analysts’ consensus estimate of $0.28 by $0.04. Cherry Hill Mortgage Investment had a return on equity of 16.83% and a net margin of 51.61%. In the same quarter a year earlier, the company posted earnings of $0.37 per share. Sell-side analysts expect Cherry Hill Mortgage Investment to post an EPS of 1.45 for the current fiscal year.

A number of hedge funds and other institutional investors have recently increased or reduced their stakes in the stock. Concorde Asset Management LLC increased its position in Cherry Hill Mortgage Investment by 1.9% during the fourth quarter. Concorde Asset Management LLC now owns 93,657 shares of the real estate investment trust worth $775,000 after purchasing an additional 1,785 shares last quarter. Wiley Bros. Aintree Capital LLC increased its position in Cherry Hill Mortgage Investment by 1.1% during the fourth quarter. Wiley Bros. Aintree Capital LLC now owns 168,313 shares of the real estate investment trust worth $1,392,000 after purchasing an additional 1,892 shares in the last quarter. Invesco Ltd. increased its position in Cherry Hill Mortgage Investment by 3.6% during the third quarter. Invesco Ltd. now owns 54,792 shares of the real estate investment trust worth $487,000 after purchasing an additional 1,914 shares last quarter. Citigroup Inc. increased its position in Cherry Hill Mortgage Investment by 5.6% during the fourth quarter. Citigroup Inc. now owns 53,123 shares of the real estate investment trust worth $439,000 after buying 2,813 more shares last quarter. Finally, Allworth Financial LP bought a new position in Cherry Hill Mortgage Investment during the first quarter at a value of $29,000. 27.73% of the shares are held by hedge funds and other institutional investors.

About Cherry Hill Mortgage Investment (Get an assessment)

Cherry Hill Mortgage Investment Corporation, a residential real estate finance company, acquires, invests and manages residential mortgage assets in the United States. The Company operates through investments in RMBS (residential mortgage-backed securities), investments in maintenance-related assets and all other segments.

Further reading

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