Cherry Hill Mortgage Investment (NYSE:CHMI) Downgraded by Zacks Investment Research to Sell

Zacks Investment Research lowered shares of Cherry Hill Mortgage Investment (NYSE:CHMI) from a hold rating to a sell rating in a research report sent to investors on Wednesday, Zacks.com reports.

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

Several other analysts also recently weighed in on CHMI. B. Riley restated a buy rating on shares of Cherry Hill Mortgage Investment in a research note on Monday. ValuEngine upgraded Cherry Hill Mortgage Investment from a sell rating to a hold rating in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $17.50.

Shares of NYSE CHMI traded down $0.13 during mid-day trading on Wednesday, hitting $14.77. 10,081 shares of the company were exchanged, compared to its average volume of 153,071. The stock has a 50 day simple moving average of $14.68 and a 200-day simple moving average of $14.15. Cherry Hill Mortgage Investment has a 1-year low of $11.81 and a 1-year high of $18.95. The firm has a market cap of $246.35 million, a price-to-earnings ratio of 6.57 and a beta of 0.47.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 28th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, December 30th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 10.83%. Cherry Hill Mortgage Investment’s dividend payout ratio (DPR) is presently 71.11%.

Hedge funds have recently added to or reduced their stakes in the company. Hancock Whitney Corp bought a new position in shares of Cherry Hill Mortgage Investment during the 3rd quarter worth about $149,000. Jefferies Group LLC boosted its position in shares of Cherry Hill Mortgage Investment by 17.1% during the 2nd quarter. Jefferies Group LLC now owns 14,241 shares of the real estate investment trust’s stock worth $228,000 after purchasing an additional 2,079 shares in the last quarter. Financial Architects Inc bought a new position in shares of Cherry Hill Mortgage Investment during the 3rd quarter worth about $229,000. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of Cherry Hill Mortgage Investment by 35.1% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 20,400 shares of the real estate investment trust’s stock worth $327,000 after purchasing an additional 5,300 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in shares of Cherry Hill Mortgage Investment by 973.5% during the 3rd quarter. Nisa Investment Advisors LLC now owns 21,190 shares of the real estate investment trust’s stock worth $278,000 after purchasing an additional 19,216 shares in the last quarter. 51.54% of the stock is currently owned by institutional investors.

Cherry Hill Mortgage Investment Company Profile

Cherry Hill Mortgage Investment Corporation, a residential real estate finance company, acquires, invests in, and manages residential mortgage assets in the United States. The company operates through Investments in RMBS and Investments in Servicing Related Assets segments. It manages a portfolio of servicing related assets, residential mortgage-backed securities (RMBS), and prime residential mortgage loans, as well as other residential mortgage assets.

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