Stifel Financial Corp bought a new stake in shares of Cherry Hill Mortgage Investment Corporation (NYSE:CHMI) during the first quarter, Holdings Channel reports. The institutional investor bought 74,200 shares of the real estate investment trust’s stock, valued at approximately $1,265,000.

Other large investors have also recently made changes to their positions in the company. Wells Fargo & Company MN increased its stake in shares of Cherry Hill Mortgage Investment Corporation by 77.4% in the first quarter. Wells Fargo & Company MN now owns 10,828 shares of the real estate investment trust’s stock valued at $185,000 after buying an additional 4,724 shares during the period. Russell Investments Group Ltd. purchased a new stake in shares of Cherry Hill Mortgage Investment Corporation during the fourth quarter valued at $208,000. Quantitative Systematic Strategies LLC purchased a new stake in shares of Cherry Hill Mortgage Investment Corporation during the first quarter valued at $229,000. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Cherry Hill Mortgage Investment Corporation by 0.9% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 16,214 shares of the real estate investment trust’s stock valued at $295,000 after buying an additional 139 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of Cherry Hill Mortgage Investment Corporation by 68.1% in the first quarter. Bank of New York Mellon Corp now owns 21,471 shares of the real estate investment trust’s stock valued at $367,000 after buying an additional 8,701 shares during the period. Institutional investors own 47.87% of the company’s stock.

Institutional Ownership by Quarter for Cherry Hill Mortgage Investment Corporation (NYSE:CHMI)

Cherry Hill Mortgage Investment Corporation (CHMI) opened at 18.94 on Friday. The firm has a 50 day moving average of $17.87 and a 200-day moving average of $18.03. Cherry Hill Mortgage Investment Corporation has a 12-month low of $14.94 and a 12-month high of $19.14. The stock has a market cap of $240.54 million, a PE ratio of 2.65 and a beta of 0.37.

Cherry Hill Mortgage Investment Corporation (NYSE:CHMI) last issued its earnings results on Tuesday, May 9th. The real estate investment trust reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.14. Cherry Hill Mortgage Investment Corporation had a net margin of 155.62% and a return on equity of 9.35%. The business had revenue of $3.65 million during the quarter, compared to analysts’ expectations of $8.50 million. During the same quarter in the prior year, the business posted $0.55 EPS. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. On average, analysts expect that Cherry Hill Mortgage Investment Corporation will post $2.09 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 25th. Stockholders of record on Friday, June 30th will be issued a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 10.35%. The ex-dividend date is Wednesday, June 28th. Cherry Hill Mortgage Investment Corporation’s payout ratio is 27.45%.

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A number of research analysts have issued reports on the stock. Zacks Investment Research raised shares of Cherry Hill Mortgage Investment Corporation from a “strong sell” rating to a “buy” rating and set a $21.00 price target for the company in a report on Wednesday, March 22nd. Citigroup Inc. reaffirmed a “buy” rating and issued a $19.00 price target (down previously from $20.00) on shares of Cherry Hill Mortgage Investment Corporation in a report on Sunday, May 14th. ValuEngine cut shares of Cherry Hill Mortgage Investment Corporation from a “strong-buy” rating to a “buy” rating in a report on Friday, June 2nd. Finally, FBR & Co reaffirmed an “outperform” rating and issued a $18.50 price target (down previously from $21.50) on shares of Cherry Hill Mortgage Investment Corporation in a report on Tuesday, March 28th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $18.80.

In related news, CFO Martin Levine bought 2,000 shares of the stock in a transaction dated Friday, March 24th. The stock was acquired at an average price of $16.48 per share, for a total transaction of $32,960.00. Following the acquisition, the chief financial officer now owns 16,600 shares in the company, valued at approximately $273,568. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last 90 days, insiders bought 3,750 shares of company stock valued at $61,835. Company insiders own 8.90% of the company’s stock.

About Cherry Hill Mortgage Investment Corporation

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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