Cherry Hill Mortgage Investment (NYSE:CHMI) Coverage Initiated by Analysts at Janney Montgomery Scott

Investment analysts at Janney Montgomery Scott assumed coverage on shares of Cherry Hill Mortgage Investment (NYSE:CHMI) in a research report issued 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 target would suggest a potential upside of 51.52% from the stock’s current price.

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

Cherry Hill Mortgage Investment Trading Down 4.3 %

CHMI stock opened at $2.64 on Thursday. The firm has a market cap of $83.49 million, a PE ratio of -1.74 and a beta of 1.39. The stock 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 1-year low of $2.50 and a 1-year high of $4.11.

Cherry Hill Mortgage Investment (NYSE:CHMI) last issued its quarterly earnings results on Tuesday, November 12th. The real estate investment trust reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.06). The business had revenue of $14.33 million during 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 in the previous year, the business posted $0.16 earnings per share. On average, analysts forecast that Cherry Hill Mortgage Investment will post 0.38 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CHMI. Renaissance Technologies LLC increased its stake in Cherry Hill Mortgage Investment by 7.9% in the 2nd quarter. Renaissance Technologies LLC now owns 507,684 shares of the real estate investment trust’s stock valued at $1,843,000 after buying an additional 37,300 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Cherry Hill Mortgage Investment by 7.6% during the third quarter. Geode Capital Management LLC now owns 337,392 shares of the real estate investment trust’s stock valued at $1,225,000 after acquiring an additional 23,947 shares during the last quarter. Forum Financial Management LP lifted its holdings in Cherry Hill Mortgage Investment by 4.4% during the third quarter. Forum Financial Management LP now owns 298,600 shares of the real estate investment trust’s stock worth $1,084,000 after acquiring an additional 12,600 shares during the period. Penserra Capital Management LLC boosted its position in Cherry Hill Mortgage Investment by 22.9% in the third quarter. Penserra Capital Management LLC now owns 265,787 shares of the real estate investment trust’s stock worth $964,000 after purchasing an additional 49,600 shares during the last quarter. Finally, Wolverine Asset Management LLC bought a new position in Cherry Hill Mortgage Investment in the 3rd quarter valued at $665,000. 18.49% of the stock is owned by 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. It operates through Investments in RMBS (residential mortgage-backed securities) and Investments in Servicing Related Assets segments.