Wall Street Zen Downgrades Cherry Hill Mortgage Investment (NYSE:CHMI) to Hold

Wall Street Zen lowered shares of Cherry Hill Mortgage Investment (NYSE:CHMIFree Report) from a buy rating to a hold rating in a research note released on Sunday morning.

Cherry Hill Mortgage Investment Stock Performance

Shares of CHMI stock opened at $2.41 on Friday. The firm has a market cap of $86.86 million, a P/E ratio of -4.63 and a beta of 0.98. The firm’s 50 day moving average price is $2.79 and its 200-day moving average price is $2.89. Cherry Hill Mortgage Investment has a one year low of $2.34 and a one year high of $3.68.

Cherry Hill Mortgage Investment (NYSE:CHMIGet Free Report) last announced its earnings results on Thursday, August 7th. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.02). Cherry Hill Mortgage Investment had a negative net margin of 14.28% and a positive return on equity of 15.55%. The firm had revenue of $6.04 million during the quarter, compared to analysts’ expectations of $2.19 million. As a group, research analysts predict that Cherry Hill Mortgage Investment will post 0.38 EPS for the current fiscal year.

Cherry Hill Mortgage Investment Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 16.6%. The ex-dividend date of this dividend is Tuesday, September 30th. Cherry Hill Mortgage Investment’s payout ratio is currently -76.92%.

Institutional Trading of Cherry Hill Mortgage Investment

Hedge funds have recently made changes to their positions in the business. Jane Street Group LLC acquired a new position in Cherry Hill Mortgage Investment during the 4th quarter worth $68,000. Northern Trust Corp boosted its stake in shares of Cherry Hill Mortgage Investment by 30.9% in the 4th quarter. Northern Trust Corp now owns 128,350 shares of the real estate investment trust’s stock valued at $339,000 after buying an additional 30,330 shares during the period. Vident Advisory LLC purchased a new position in shares of Cherry Hill Mortgage Investment in the 1st quarter valued at about $123,000. Banco BTG Pactual S.A. acquired a new position in shares of Cherry Hill Mortgage Investment during the first quarter worth about $36,000. Finally, Wealth Preservation Advisors LLC purchased a new stake in shares of Cherry Hill Mortgage Investment during the first quarter worth approximately $33,000. Institutional investors and hedge funds own 18.49% of the company’s stock.

Cherry Hill Mortgage Investment Company Profile

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Cherry Hill Mortgage Investment Corporation, a residential real estate finance company, acquires, invests in, and manages residential mortgage assets in the United States. It operates through Investments in RMBS (residential mortgage-backed securities) and Investments in Servicing Related Assets segments.

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