Citizens Jmp Forecasts Strong Price Appreciation for Cherry Hill Mortgage Investment (NYSE:CHMI) Stock

Cherry Hill Mortgage Investment (NYSE:CHMI) had its price target raised by investment analysts at Citizens Jmp from $2.75 to $3.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “market outperform” rating on the real estate investment trust’s stock. Citizens Jmp’s price objective would indicate a potential upside of 10.70% from the stock’s current price.

A number of other equities analysts also recently commented on CHMI. Wall Street Zen downgraded shares of Cherry Hill Mortgage Investment from a “buy” rating to a “hold” rating in a report on Sunday, September 28th. Weiss Ratings reiterated a “sell (d)” rating on shares of Cherry Hill Mortgage Investment in a research note on Monday, December 29th. Credit Suisse Group set a $3.00 target price on shares of Cherry Hill Mortgage Investment in a research note on Thursday. Janney Montgomery Scott lowered shares of Cherry Hill Mortgage Investment from a “buy” rating to a “neutral” rating in a report on Monday, October 13th. Finally, Citigroup reiterated an “outperform” rating on shares of Cherry Hill Mortgage Investment in a report on Thursday. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Cherry Hill Mortgage Investment presently has an average rating of “Hold” and a consensus price target of $3.00.

Cherry Hill Mortgage Investment Price Performance

Shares of NYSE:CHMI opened at $2.71 on Thursday. The firm has a 50 day moving average of $2.55 and a 200 day moving average of $2.61. The company has a market capitalization of $99.57 million, a price-to-earnings ratio of 135.50 and a beta of 1.04. Cherry Hill Mortgage Investment has a 52 week low of $2.17 and a 52 week high of $3.68.

Cherry Hill Mortgage Investment (NYSE:CHMI) last announced its quarterly earnings results on Thursday, November 6th. The real estate investment trust reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.02). The company had revenue of $8.57 million during the quarter, compared to analysts’ expectations of $2.87 million. Cherry Hill Mortgage Investment had a net margin of 14.15% and a return on equity of 16.17%. On average, sell-side analysts expect that Cherry Hill Mortgage Investment will post 0.38 EPS for the current year.

Hedge Funds Weigh In On Cherry Hill Mortgage Investment

Several hedge funds have recently made changes to their positions in the company. Corient Private Wealth LLC acquired a new stake in Cherry Hill Mortgage Investment during the 2nd quarter worth about $908,000. Two Sigma Investments LP raised its stake in shares of Cherry Hill Mortgage Investment by 92.8% in the third quarter. Two Sigma Investments LP now owns 260,759 shares of the real estate investment trust’s stock worth $623,000 after purchasing an additional 125,499 shares during the last quarter. Hudson Bay Capital Management LP purchased a new position in shares of Cherry Hill Mortgage Investment in the second quarter worth about $374,000. Jane Street Group LLC lifted its holdings in shares of Cherry Hill Mortgage Investment by 262.5% during the first quarter. Jane Street Group LLC now owns 93,672 shares of the real estate investment trust’s stock worth $309,000 after purchasing an additional 67,832 shares during the period. Finally, Vident Advisory LLC boosted its position in Cherry Hill Mortgage Investment by 58.2% in the second quarter. Vident Advisory LLC now owns 59,061 shares of the real estate investment trust’s stock valued at $161,000 after buying an additional 21,731 shares during the last quarter. 18.49% of the stock is owned by institutional investors and hedge funds.

About Cherry Hill Mortgage Investment

Cherry Hill Mortgage Investment Corporation is a real estate investment trust that focuses on acquiring, financing and managing residential mortgage loans and mortgage-related securities. The company’s portfolio consists primarily of agency and non-agency residential mortgage loans secured by single-family residences, together with mortgage-backed securities issued or guaranteed by Fannie Mae, Freddie Mac and Ginnie Mae.

CHMI employs active portfolio management strategies intended to generate current income and total return for its shareholders.