Brokerages Set Cherry Hill Mortgage Investment Corp (NYSE:CHMI) Price Target at $17.00

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Cherry Hill Mortgage Investment Corp (NYSE:CHMI) has received a consensus recommendation of “Buy” from the six brokerages that are currently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $17.00.

Several research firms have issued reports on CHMI. B. Riley restated a “buy” rating and set a $15.00 price objective on shares of Cherry Hill Mortgage Investment in a report on Wednesday, November 13th. ValuEngine upgraded Cherry Hill Mortgage Investment from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Zacks Investment Research upgraded Cherry Hill Mortgage Investment from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 23rd. Finally, JMP Securities cut their price objective on Cherry Hill Mortgage Investment from $20.00 to $16.00 and set a “market outperform” rating on the stock in a report on Thursday, September 5th.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Invesco Ltd. boosted its position in Cherry Hill Mortgage Investment by 1.5% during the second quarter. Invesco Ltd. now owns 60,146 shares of the real estate investment trust’s stock worth $963,000 after purchasing an additional 901 shares during the period. C M Bidwell & Associates Ltd. bought a new stake in shares of Cherry Hill Mortgage Investment in the second quarter valued at approximately $28,000. Rhumbline Advisers boosted its position in shares of Cherry Hill Mortgage Investment by 8.6% in the third quarter. Rhumbline Advisers now owns 25,973 shares of the real estate investment trust’s stock valued at $340,000 after acquiring an additional 2,052 shares during the period. Jefferies Group LLC boosted its position in shares of Cherry Hill Mortgage Investment by 17.1% in the second quarter. Jefferies Group LLC now owns 14,241 shares of the real estate investment trust’s stock valued at $228,000 after acquiring an additional 2,079 shares during the period. Finally, Northern Trust Corp boosted its position in shares of Cherry Hill Mortgage Investment by 2.4% in the second quarter. Northern Trust Corp now owns 188,249 shares of the real estate investment trust’s stock valued at $3,012,000 after acquiring an additional 4,326 shares during the period. Hedge funds and other institutional investors own 51.66% of the company’s stock.

NYSE CHMI traded down $0.06 on Friday, hitting $14.66. 300 shares of the company were exchanged, compared to its average volume of 201,342. The company’s 50 day moving average price is $14.18 and its 200-day moving average price is $14.49. The firm has a market capitalization of $248.39 million, a P/E ratio of 6.53 and a beta of 0.47. Cherry Hill Mortgage Investment has a twelve month low of $11.81 and a twelve month high of $18.95.

Cherry Hill Mortgage Investment Company Profile

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.

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