Cherry Hill Mortgage Investment (NYSE:CHMI) Now Covered by Analysts at Janney Montgomery Scott

Analysts at Janney Montgomery Scott initiated coverage on shares of Cherry Hill Mortgage Investment (NYSE:CHMI) in a report released on Thursday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $4.00 price target on the real estate investment trust’s stock. Janney Montgomery Scott’s price objective would suggest a potential upside of 51.52% from the stock’s previous close.

Separately, StockNews.com cut Cherry Hill Mortgage Investment from a “hold” rating to a “sell” rating in a research report on Wednesday, December 11th.

Cherry Hill Mortgage Investment Stock Down 4.3 %

CHMI opened at $2.64 on Thursday. The company has a market capitalization of $83.49 million, a price-to-earnings ratio of -1.74 and a beta of 1.39. The firm has a 50-day moving average price of $2.84 and a 200-day moving average price of $3.35. Cherry Hill Mortgage Investment has a twelve month low of $2.50 and a twelve month high of $4.11.

Cherry Hill Mortgage Investment (NYSE:CHMI) last issued its earnings results on Tuesday, November 12th. The real estate investment trust reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.06). The business had revenue of $14.33 million for the quarter. Cherry Hill Mortgage Investment had a negative net margin of 60.97% and a positive return on equity of 15.18%. During the same quarter last year, the firm earned $0.16 earnings per share. On average, sell-side analysts expect that Cherry Hill Mortgage Investment will post 0.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cherry Hill Mortgage Investment

Large investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC lifted its stake in Cherry Hill Mortgage Investment by 7.9% in the second quarter. Renaissance Technologies LLC now owns 507,684 shares of the real estate investment trust’s stock worth $1,843,000 after purchasing an additional 37,300 shares during the last quarter. Members Trust Co purchased a new stake in Cherry Hill Mortgage Investment during the 3rd quarter valued at about $47,000. Hudson Valley Investment Advisors Inc. ADV grew its position in Cherry Hill Mortgage Investment by 133.3% during the 3rd quarter. Hudson Valley Investment Advisors Inc. ADV now owns 28,000 shares of the real estate investment trust’s stock worth $102,000 after acquiring an additional 16,000 shares during the last quarter. Forum Financial Management LP lifted its position in Cherry Hill Mortgage Investment by 4.4% in the third quarter. Forum Financial Management LP now owns 298,600 shares of the real estate investment trust’s stock valued at $1,084,000 after purchasing an additional 12,600 shares during the last quarter. Finally, Wolverine Asset Management LLC purchased a new stake in shares of Cherry Hill Mortgage Investment during the third quarter valued at approximately $665,000. Hedge funds and other institutional investors own 18.49% of the company’s stock.

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. It operates through Investments in RMBS (residential mortgage-backed securities) and Investments in Servicing Related Assets segments.