Shares of Cherry Hill Mortgage Investment Corporation (NYSE:CHMI) have earned an average recommendation of “Buy” from the seven brokerages that are presently covering the company, Marketbeat reports. Four analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $18.50.
A number of equities analysts have issued reports on CHMI shares. Zacks Investment Research upgraded Cherry Hill Mortgage Investment Corporation from a “hold” rating to a “buy” rating and set a $21.00 price target for the company in a research note on Tuesday, July 11th. ValuEngine downgraded Cherry Hill Mortgage Investment Corporation from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 2nd. Finally, Citigroup Inc. restated a “buy” rating and issued a $19.00 target price (down previously from $20.00) on shares of Cherry Hill Mortgage Investment Corporation in a research note on Sunday, May 14th.
Several large investors have recently bought and sold shares of CHMI. Russell Investments Group Ltd. bought a new stake in Cherry Hill Mortgage Investment Corporation during the fourth quarter worth approximately $208,000. Quantitative Systematic Strategies LLC bought a new stake in Cherry Hill Mortgage Investment Corporation during the first quarter worth approximately $229,000. Acadian Asset Management LLC boosted its stake in Cherry Hill Mortgage Investment Corporation by 3.8% in the first quarter. Acadian Asset Management LLC now owns 316,035 shares of the real estate investment trust’s stock worth $5,402,000 after buying an additional 11,460 shares during the period. Wells Fargo & Company MN boosted its stake 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 worth $185,000 after buying an additional 4,724 shares during the period. Finally, Monarch Partners Asset Management LLC bought a new stake in Cherry Hill Mortgage Investment Corporation during the first quarter worth approximately $391,000. 49.20% of the stock is currently owned by institutional investors.
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Shares of Cherry Hill Mortgage Investment Corporation (NYSE:CHMI) traded down 1.71% during midday trading on Monday, reaching $19.02. The company’s stock had a trading volume of 157,995 shares. Cherry Hill Mortgage Investment Corporation has a 52-week low of $15.52 and a 52-week high of $19.33. The stock has a 50 day moving average price of $18.86 and a 200-day moving average price of $18.14. The company has a market capitalization of $241.55 million, a price-to-earnings ratio of 2.66 and a beta of 0.38.
Cherry Hill Mortgage Investment Corporation (NYSE:CHMI) last released its quarterly earnings results on Tuesday, August 8th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.02. The business had revenue of $5.71 million during the quarter, compared to the consensus estimate of $4.79 million. Cherry Hill Mortgage Investment Corporation had a return on equity of 9.35% and a net margin of 155.62%. The company’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.53 EPS. Equities research analysts expect that Cherry Hill Mortgage Investment Corporation will post $2.05 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 25th. Stockholders of record on Friday, June 30th were paid a $0.49 dividend. The ex-dividend date was Wednesday, June 28th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 10.30%. Cherry Hill Mortgage Investment Corporation’s payout ratio is presently 27.45%.
About Cherry Hill Mortgage Investment Corporation
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.
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