Cherry Hill Mortgage Investment (NYSE:CHMI) downgraded by Zacks Investment Research to be sold


Zacks Investment Research cut shares by Cherry Hill Mortgage Investment (NYSE: CHMI – Get Note) from a hold rating to a sell rating in a research report sent to investors Friday morning, 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 shares of Cherry Hill Mortgage Investment in a report on Thursday, March 31. They have set a holding rating on the stock.

NYSE:CHMI shares opened at $6.55 on Friday. The company has a market capitalization of $119.60 million, a PE ratio of 50.38 and a beta of 1.15. The company’s 50-day simple moving average is $7.50 and its 200-day simple moving average is $8.18. Cherry Hill Mortgage Investment has a one-year minimum of $6.55 and a one-year maximum of $10.68.

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

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 26. Investors of record on Thursday, March 31 received a dividend of $0.27 per share. This represents an annualized dividend of $1.08 and a yield of 16.49%. The ex-dividend date was Wednesday, March 30. Cherry Hill Mortgage Investment’s payout ratio is 830.77%.

Institutional investors and hedge funds have recently changed their positions in the company. Citigroup Inc. increased its stake in Cherry Hill Mortgage Investment by 118.3% in the third quarter. Citigroup Inc. now owns 50,310 shares of the real estate investment trust worth $447,000 after acquiring 27,268 additional shares in the last quarter. Barclays PLC increased its stake in Cherry Hill Mortgage Investment by 194.9% in the third quarter. Barclays PLC now owns 11,666 shares of the real estate investment trust valued at $103,000 after acquiring an additional 7,710 shares last quarter. Advisory Services Network LLC increased its stake in Cherry Hill Mortgage Investment by 27.6% in the third quarter. Advisory Services Network LLC now owns 28,055 shares of the real estate investment trust worth $249,000 after acquiring an additional 6,062 shares in the last quarter. Two Sigma Investments LP increased its stake in Cherry Hill Mortgage Investment by 1.4% in the third quarter. Two Sigma Investments LP now owns 295,207 shares of the real estate investment trust worth $2,621,000 after acquiring 4,080 additional shares in the last quarter. Finally, Penserra Capital Management LLC acquired a new stake in Cherry Hill Mortgage Investment in the third quarter, valued at approximately $82,000. Institutional investors hold 27.73% of the company’s shares.

About Cherry Hill Mortgage Investment (Get a rating)

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.

See also

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