Cherry Hill Mortgage Investment Corporation (NYSE:CHMI) has received an average recommendation of “Buy” from the seven research firms that are currently covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $18.50.
Several analysts recently commented on CHMI shares. Zacks Investment Research raised Cherry Hill Mortgage Investment Corporation from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a report on Wednesday, April 26th. ValuEngine raised Cherry Hill Mortgage Investment Corporation from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 13th. Finally, Citigroup Inc. reaffirmed a “buy” rating and set a $19.00 target price (down from $20.00) on shares of Cherry Hill Mortgage Investment Corporation in a report on Sunday, May 14th.
Cherry Hill Mortgage Investment Corporation (NYSE:CHMI) traded down 0.52% during midday trading on Monday, hitting $18.96. The company’s stock had a trading volume of 71,394 shares. Cherry Hill Mortgage Investment Corporation has a one year low of $15.32 and a one year high of $19.17. The company’s 50-day moving average is $18.73 and its 200 day moving average is $18.11. The company has a market cap of $240.79 million, a price-to-earnings ratio of 2.65 and a beta of 0.37.
Cherry Hill Mortgage Investment Corporation (NYSE:CHMI) last posted its earnings results on Tuesday, May 9th. The real estate investment trust reported $0.63 EPS for the quarter, topping the consensus estimate of $0.49 by $0.14. The firm had revenue of $3.65 million for the quarter, compared to analyst estimates of $8.50 million. Cherry Hill Mortgage Investment Corporation had a return on equity of 9.35% and a net margin of 155.62%. Cherry Hill Mortgage Investment Corporation’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period last year, the company earned $0.55 earnings per share. On average, analysts predict that Cherry Hill Mortgage Investment Corporation will post $2.05 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 25th. Shareholders of record on Friday, June 30th were issued a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 10.34%. The ex-dividend date of this dividend was Wednesday, June 28th. Cherry Hill Mortgage Investment Corporation’s payout ratio is currently 27.45%.
Several institutional investors have recently added to or reduced their stakes in CHMI. Wells Fargo & Company MN increased its position in Cherry Hill Mortgage Investment Corporation by 77.4% in the first quarter. Wells Fargo & Company MN now owns 10,828 shares of the real estate investment trust’s stock valued at $185,000 after buying an additional 4,724 shares during the period. Segantii Capital Management Ltd increased its position in Cherry Hill Mortgage Investment Corporation by 469.2% in the first quarter. Segantii Capital Management Ltd now owns 7,400 shares of the real estate investment trust’s stock valued at $126,000 after buying an additional 6,100 shares during the period. Bank of New York Mellon Corp increased its position in Cherry Hill Mortgage Investment Corporation by 68.1% in the first quarter. Bank of New York Mellon Corp now owns 21,471 shares of the real estate investment trust’s stock valued at $367,000 after buying an additional 8,701 shares during the period. Bessemer Group Inc. purchased a new position in Cherry Hill Mortgage Investment Corporation during the second quarter valued at $172,000. Finally, Laurion Capital Management LP purchased a new position in Cherry Hill Mortgage Investment Corporation during the first quarter valued at $187,000. Institutional investors and hedge funds own 47.88% of the company’s stock.
Cherry Hill Mortgage Investment Corporation Company Profile
Cherry Hill Mortgage Investment Corporation is a residential real estate finance company. The Company is focused on acquiring, investing in and managing residential mortgage assets in the United States. Its principal objective is to generate attractive current yields and risk-adjusted total returns for its stockholders over the long term, primarily through dividend distributions and secondarily through capital appreciation.
Receive News & Ratings for Cherry Hill Mortgage Investment Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cherry Hill Mortgage Investment Corporation and related companies with MarketBeat.com's FREE daily email newsletter.
