Zacks Investment Research Upgrades Cherry Hill Mortgage Investment (CHMI) to “Buy”

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Cherry Hill Mortgage Investment (NYSE:CHMI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday. The brokerage currently has a $21.00 target price on the real estate investment trust’s stock. Zacks Investment Research‘s price target suggests a potential upside of 10.70% from the company’s previous close.

According to Zacks, “Cherry Hill Mortgage Investment Corporation is a residential real estate finance company that acquires, invests in and manages residential mortgage assets in the United States. Cherry Hill Mortgage Investment Corporation is based in United States. “

Other analysts have also issued reports about the stock. B. Riley set a $19.00 price target on shares of Cherry Hill Mortgage Investment and gave the stock a “buy” rating in a research report on Friday, August 10th. ValuEngine lowered shares of Cherry Hill Mortgage Investment from a “hold” rating to a “sell” rating in a research report on Wednesday, August 8th. Finally, TheStreet upgraded shares of Cherry Hill Mortgage Investment from a “c” rating to a “b” rating in a research report on Wednesday, October 31st. One research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $20.00.

Shares of CHMI opened at $18.97 on Friday. The firm has a market capitalization of $291.22 million, a P/E ratio of 8.55 and a beta of 0.23. Cherry Hill Mortgage Investment has a one year low of $16.01 and a one year high of $19.20.

Cherry Hill Mortgage Investment (NYSE:CHMI) last posted its quarterly earnings results on Wednesday, November 7th. The real estate investment trust reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.04. The company had revenue of $6.07 million for the quarter, compared to analyst estimates of $3.43 million. Cherry Hill Mortgage Investment had a net margin of 175.86% and a return on equity of 11.64%. On average, analysts expect that Cherry Hill Mortgage Investment will post 2.09 earnings per share for the current fiscal year.

A number of hedge funds have recently made changes to their positions in CHMI. SG Americas Securities LLC bought a new position in Cherry Hill Mortgage Investment during the 3rd quarter valued at about $105,000. Meeder Asset Management Inc. lifted its holdings in Cherry Hill Mortgage Investment by 1,961.8% during the 2nd quarter. Meeder Asset Management Inc. now owns 6,041 shares of the real estate investment trust’s stock valued at $108,000 after purchasing an additional 5,748 shares during the last quarter. Assetmark Inc. lifted its holdings in Cherry Hill Mortgage Investment by 58.0% during the 2nd quarter. Assetmark Inc. now owns 8,322 shares of the real estate investment trust’s stock valued at $149,000 after purchasing an additional 3,056 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its holdings in Cherry Hill Mortgage Investment by 327.8% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 8,949 shares of the real estate investment trust’s stock valued at $157,000 after purchasing an additional 6,857 shares during the last quarter. Finally, Advisors Asset Management Inc. lifted its holdings in Cherry Hill Mortgage Investment by 224.0% during the 2nd quarter. Advisors Asset Management Inc. now owns 12,394 shares of the real estate investment trust’s stock valued at $184,000 after purchasing an additional 8,569 shares during the last quarter. 56.16% of the stock is owned by hedge funds and other institutional investors.

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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