StockNews.com Upgrades Cherry Hill Mortgage Investment (NYSE:CHMI) to Hold

Cherry Hill Mortgage Investment (NYSE:CHMI) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Friday.

Separately, Janney Montgomery Scott assumed coverage on shares of Cherry Hill Mortgage Investment in a report on Thursday. They set a “buy” rating and a $4.00 price objective for the company.

Cherry Hill Mortgage Investment Price Performance

NYSE:CHMI remained flat at $2.62 during trading hours on Friday. The company’s stock had a trading volume of 294,634 shares, compared to its average volume of 328,867. The business has a 50 day simple moving average of $2.80 and a 200-day simple moving average of $3.34. Cherry Hill Mortgage Investment has a 52-week low of $2.50 and a 52-week high of $4.11. The firm has a market cap of $82.86 million, a price-to-earnings ratio of -1.72 and a beta of 1.38.

Cherry Hill Mortgage Investment (NYSE:CHMI) last posted its earnings results on Tuesday, November 12th. The real estate investment trust reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.06). The firm had revenue of $14.33 million during the quarter. Cherry Hill Mortgage Investment had a positive return on equity of 15.18% and a negative net margin of 60.97%. During the same quarter last year, the firm posted $0.16 earnings per share. As a group, equities research analysts predict that Cherry Hill Mortgage Investment will post 0.38 earnings per share for the current year.

Institutional Investors Weigh In On Cherry Hill Mortgage Investment

A number of hedge funds have recently added to or reduced their stakes in CHMI. Renaissance Technologies LLC lifted its holdings in Cherry Hill Mortgage Investment by 7.9% during the 2nd quarter. Renaissance Technologies LLC now owns 507,684 shares of the real estate investment trust’s stock worth $1,843,000 after buying an additional 37,300 shares in the last quarter. Members Trust Co acquired a new position in shares of Cherry Hill Mortgage Investment during the third quarter valued at $47,000. Hudson Valley Investment Advisors Inc. ADV boosted its holdings in Cherry Hill Mortgage Investment by 133.3% in the third quarter. Hudson Valley Investment Advisors Inc. ADV now owns 28,000 shares of the real estate investment trust’s stock valued at $102,000 after acquiring an additional 16,000 shares during the last quarter. Forum Financial Management LP increased its position in Cherry Hill Mortgage Investment by 4.4% in the third quarter. Forum Financial Management LP now owns 298,600 shares of the real estate investment trust’s stock worth $1,084,000 after purchasing an additional 12,600 shares during the period. Finally, Wolverine Asset Management LLC bought a new stake in Cherry Hill Mortgage Investment during the 3rd quarter worth about $665,000. Institutional investors own 18.49% of the company’s stock.

About Cherry Hill Mortgage Investment

Cherry Hill Mortgage Investment Corporation, a residential real estate finance company, acquires, invests in, and manages residential mortgage assets in the United States. It operates through Investments in RMBS (residential mortgage-backed securities) and Investments in Servicing Related Assets segments.