JMP Securities Cuts Cherry Hill Mortgage Investment (NYSE:CHMI) Price Target to $16.00

Share on StockTwits

Cherry Hill Mortgage Investment (NYSE:CHMI) had its price objective trimmed by JMP Securities from $20.00 to $16.00 in a research note issued to investors on Thursday morning, BenzingaRatingsTable reports. The brokerage currently has a market outperform rating on the real estate investment trust’s stock.

Other research analysts also recently issued reports about the company. ValuEngine downgraded Cherry Hill Mortgage Investment from a sell rating to a strong sell rating in a research note on Wednesday, July 24th. TheStreet downgraded Cherry Hill Mortgage Investment from a b- rating to a c rating in a research note on Thursday, May 30th. Finally, Zacks Investment Research raised Cherry Hill Mortgage Investment from a strong sell rating to a hold rating in a research note on Friday, August 9th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $18.33.

Shares of CHMI stock traded up $0.08 during trading hours on Thursday, hitting $12.82. 223,025 shares of the company’s stock were exchanged, compared to its average volume of 357,215. The firm has a market cap of $215.26 million, a P/E ratio of 5.70 and a beta of 0.43. The firm has a 50 day moving average of $13.86 and a two-hundred day moving average of $16.33. Cherry Hill Mortgage Investment has a fifty-two week low of $11.81 and a fifty-two week high of $19.35.

Cherry Hill Mortgage Investment (NYSE:CHMI) last announced its earnings results on Thursday, August 8th. The real estate investment trust reported $0.52 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.02. The business had revenue of $5.51 million during the quarter, compared to the consensus estimate of $6.08 million. Cherry Hill Mortgage Investment had a positive return on equity of 13.23% and a negative net margin of 89.15%. On average, equities analysts predict that Cherry Hill Mortgage Investment will post 1.98 earnings per share for the current year.

The company also recently disclosed a 0.49000 dividend, which will be paid on Tuesday, October 29th. Investors of record on Monday, September 30th will be paid a $0.40 dividend. This represents a yield of 15.4%. The ex-dividend date is Friday, September 27th. Cherry Hill Mortgage Investment’s dividend payout ratio is currently 87.11%.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. C M Bidwell & Associates Ltd. acquired a new position in Cherry Hill Mortgage Investment in the 2nd quarter valued at $28,000. Nisa Investment Advisors LLC raised its stake in Cherry Hill Mortgage Investment by 51.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,974 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 674 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake in Cherry Hill Mortgage Investment by 534.5% in the 1st quarter. BNP Paribas Arbitrage SA now owns 3,344 shares of the real estate investment trust’s stock valued at $58,000 after purchasing an additional 2,817 shares during the last quarter. Synovus Financial Corp raised its stake in Cherry Hill Mortgage Investment by 29.7% in the 1st quarter. Synovus Financial Corp now owns 4,166 shares of the real estate investment trust’s stock valued at $72,000 after purchasing an additional 955 shares during the last quarter. Finally, Denali Advisors LLC acquired a new position in Cherry Hill Mortgage Investment in the 2nd quarter valued at $90,000. 55.22% of the stock is owned by hedge funds and other institutional investors.

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. 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.

See Also: What are gap-up stocks?

Receive News & Ratings for Cherry Hill Mortgage Investment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cherry Hill Mortgage Investment and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

Thomson Reuters Corp  Shares Sold by Pictet Asset Management Ltd.
Thomson Reuters Corp Shares Sold by Pictet Asset Management Ltd.
Universal Display Co.  Shares Sold by Pictet Asset Management Ltd.
Universal Display Co. Shares Sold by Pictet Asset Management Ltd.
Pictet Asset Management Ltd. Increases Position in Mosaic Co
Pictet Asset Management Ltd. Increases Position in Mosaic Co
Pictet Asset Management Ltd. Has $4.55 Million Position in NRG Energy Inc
Pictet Asset Management Ltd. Has $4.55 Million Position in NRG Energy Inc
Pictet Asset Management Ltd. Has $4.39 Million Position in Open Text Corp
Pictet Asset Management Ltd. Has $4.39 Million Position in Open Text Corp
Pictet Asset Management Ltd. Buys 4,800 Shares of Tableau Software Inc
Pictet Asset Management Ltd. Buys 4,800 Shares of Tableau Software Inc


© 2006-2019 Ticker Report