Cherry Hill Mortgage Investment Corporation (NYSE:CHMI) Stock Has Consensus Target Price of $3.00

Shares of Cherry Hill Mortgage Investment Corporation (NYSE:CHMI) have been assigned an average rating of “Hold” from the five brokerages that are currently covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $3.00.

CHMI has been the subject of a number of research analyst reports. Wall Street Zen downgraded shares of Cherry Hill Mortgage Investment from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 1st. B. Riley Financial cut Cherry Hill Mortgage Investment from a “strong-buy” rating to a “hold” rating in a report on Monday, August 10th. Citizens Jmp downgraded Cherry Hill Mortgage Investment from a “market outperform” rating to a “hold” rating in a research note on Tuesday, August 11th. Finally, Weiss Ratings upgraded Cherry Hill Mortgage Investment from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, September 2nd.

Institutional Investors Weigh In On Cherry Hill Mortgage Investment

Institutional investors have recently bought and sold shares of the company. Glenview Trust Co acquired a new stake in Cherry Hill Mortgage Investment during the 2nd quarter worth about $29,000. Corient Private Wealth LP acquired a new stake in Cherry Hill Mortgage Investment during the second quarter valued at $397,000. Gables Capital Management Inc. purchased a new stake in shares of Cherry Hill Mortgage Investment in the second quarter valued at approximately $46,000. BlackRock Inc. acquired a new stake in shares of Cherry Hill Mortgage Investment in the second quarter valued at about $1,104,000. Finally, Money Concepts Capital Corp purchased a new stake in Cherry Hill Mortgage Investment during the 1st quarter worth approximately $68,000. 18.49% of the stock is currently owned by institutional investors and hedge funds.

Cherry Hill Mortgage Investment Stock Performance

Shares of CHMI opened at $2.62 on Tuesday. The stock’s 50-day simple moving average is $2.75 and its 200 day simple moving average is $2.58. The stock has a market capitalization of $96.99 million, a price-to-earnings ratio of 14.58 and a beta of 1.01. Cherry Hill Mortgage Investment has a 52-week low of $2.17 and a 52-week high of $2.98.

Cherry Hill Mortgage Investment (NYSE:CHMI) last released its quarterly earnings results on Monday, August 10th. The real estate investment trust reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.02. Cherry Hill Mortgage Investment had a net margin of 26.43% and a return on equity of 21.74%. The business had revenue of $7.88 million during the quarter, compared to analysts’ expectations of $10.75 million. On average, research analysts forecast that Cherry Hill Mortgage Investment will post 0.59 earnings per share for the current fiscal year.

Cherry Hill Mortgage Investment Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Wednesday, September 30th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 15.2%. The ex-dividend date of this dividend is Wednesday, September 30th. Cherry Hill Mortgage Investment’s payout ratio is 222.22%.

About Cherry Hill Mortgage Investment

Cherry Hill Mortgage Investment Corporation (NYSE: CHMI) is a mortgage real estate investment trust that focuses on investing in residential mortgage assets. The company seeks to generate income primarily through a portfolio of mortgage-related investments and related financing activities.

Its investments have included agency mortgage-backed securities, which are backed by mortgages guaranteed or issued by government-sponsored enterprises, as well as mortgage servicing rights and other residential mortgage assets.