Cherry Hill Mortgage Investment Corporation (CHMI) Receives Average Recommendation of “Buy” from Brokerages

Cherry Hill Mortgage Investment Corporation (NYSE:CHMI) has been given an average rating of “Buy” by the six ratings firms that are presently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $19.25.

CHMI has been the topic of several recent analyst reports. Zacks Investment Research raised Cherry Hill Mortgage Investment from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a research report on Wednesday, October 4th. B. Riley reaffirmed a “buy” rating and set a $19.50 price objective on shares of Cherry Hill Mortgage Investment in a research report on Wednesday, November 8th. ValuEngine cut Cherry Hill Mortgage Investment from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 1st. Finally, FBR & Co reaffirmed a “buy” rating and set a $19.50 price objective on shares of Cherry Hill Mortgage Investment in a research report on Tuesday, October 10th.

Shares of Cherry Hill Mortgage Investment (NYSE CHMI) opened at $18.44 on Friday. Cherry Hill Mortgage Investment has a 12 month low of $16.40 and a 12 month high of $19.43. The company has a market capitalization of $234.58, a price-to-earnings ratio of 8.32 and a beta of 0.38.

Cherry Hill Mortgage Investment (NYSE:CHMI) last released its earnings results on Tuesday, November 7th. The real estate investment trust reported $0.52 EPS for the quarter, hitting analysts’ consensus estimates of $0.52. Cherry Hill Mortgage Investment had a return on equity of 9.49% and a net margin of 136.70%. The firm had revenue of $5.84 million for the quarter, compared to analysts’ expectations of $5.55 million. During the same period in the prior year, the firm posted $0.54 earnings per share. analysts anticipate that Cherry Hill Mortgage Investment will post 2.2 EPS for the current fiscal year.

A number of large investors have recently made changes to their positions in the business. Renaissance Technologies LLC boosted its position in Cherry Hill Mortgage Investment by 56.3% in the second quarter. Renaissance Technologies LLC now owns 1,132,300 shares of the real estate investment trust’s stock worth $20,914,000 after purchasing an additional 407,900 shares during the last quarter. Vanguard Group Inc. boosted its position in Cherry Hill Mortgage Investment by 19.5% in the second quarter. Vanguard Group Inc. now owns 543,522 shares of the real estate investment trust’s stock worth $10,038,000 after purchasing an additional 88,668 shares during the last quarter. ClariVest Asset Management LLC boosted its position in Cherry Hill Mortgage Investment by 3.3% in the third quarter. ClariVest Asset Management LLC now owns 276,300 shares of the real estate investment trust’s stock worth $5,001,000 after purchasing an additional 8,700 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Cherry Hill Mortgage Investment by 80.0% in the second quarter. Goldman Sachs Group Inc. now owns 171,503 shares of the real estate investment trust’s stock worth $3,168,000 after purchasing an additional 76,212 shares during the last quarter. Finally, Northern Trust Corp boosted its position in Cherry Hill Mortgage Investment by 423.4% in the second quarter. Northern Trust Corp now owns 133,888 shares of the real estate investment trust’s stock worth $2,473,000 after purchasing an additional 108,310 shares during the last quarter. 58.59% of the stock is currently owned by institutional investors and hedge funds.

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Cherry Hill Mortgage Investment 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.

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