Cherry Hill Mortgage Investment (NYSE:CHMI) Lowered to Sell Rating by StockNews.com

StockNews.com cut shares of Cherry Hill Mortgage Investment (NYSE:CHMI) from a hold rating to a sell rating in a research note released on Tuesday morning.

Several other equities analysts have also issued reports on the company. Janney Montgomery Scott started coverage on Cherry Hill Mortgage Investment in a research note on Thursday, January 2nd. They set a “buy” rating and a $4.00 price target on the stock. JMP Securities reiterated a “market perform” rating on shares of Cherry Hill Mortgage Investment in a research note on Thursday, January 23rd. Finally, B. Riley upgraded Cherry Hill Mortgage Investment to a “strong-buy” rating in a research note on Tuesday, January 7th.

Cherry Hill Mortgage Investment Stock Down 0.4 %

Shares of CHMI opened at $3.63 on Tuesday. Cherry Hill Mortgage Investment has a 12-month low of $2.50 and a 12-month high of $3.99. The firm has a market capitalization of $114.64 million, a price-to-earnings ratio of -2.38 and a beta of 1.40. The stock’s 50-day moving average price is $3.06 and its 200 day moving average price is $3.19.

Cherry Hill Mortgage Investment Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st were paid a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.60 annualized dividend and a dividend yield of 16.55%. Cherry Hill Mortgage Investment’s dividend payout ratio is currently -39.47%.

Institutional Investors Weigh In On Cherry Hill Mortgage Investment

Several large investors have recently modified their holdings of the stock. Hudson Valley Investment Advisors Inc. ADV boosted its holdings in shares of Cherry Hill Mortgage Investment by 133.3% in 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 in the last quarter. Forum Financial Management LP boosted its holdings in shares of Cherry Hill Mortgage Investment by 4.4% in the 3rd 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 in the last quarter. Wolverine Asset Management LLC acquired a new position in shares of Cherry Hill Mortgage Investment in the 3rd quarter worth approximately $665,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Cherry Hill Mortgage Investment in the 3rd quarter worth approximately $49,000. Finally, Penserra Capital Management LLC boosted its holdings in shares of Cherry Hill Mortgage Investment by 22.9% in the 3rd quarter. Penserra Capital Management LLC now owns 265,787 shares of the real estate investment trust’s stock worth $964,000 after acquiring an additional 49,600 shares in the last quarter. 18.49% of the stock is currently owned by institutional investors.

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.