Cherry Hill Mortgage Investment (NYSE:CHMI) Cut to “Sell” at StockNews.com

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

A number of other brokerages have also issued reports on CHMI. Janney Montgomery Scott assumed 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 for the company. JMP Securities reissued a “market perform” rating on shares of Cherry Hill Mortgage Investment in a research note on Thursday, January 23rd. Finally, B. Riley raised Cherry Hill Mortgage Investment to a “strong-buy” rating in a research note on Tuesday, January 7th.

Cherry Hill Mortgage Investment Price Performance

NYSE:CHMI opened at $3.55 on Tuesday. The firm has a market capitalization of $112.11 million, a price-to-earnings ratio of -2.33 and a beta of 1.40. Cherry Hill Mortgage Investment has a 1 year low of $2.50 and a 1 year high of $3.99. The business has a 50 day simple moving average of $3.10 and a 200-day simple moving average of $3.20.

Cherry Hill Mortgage Investment Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.60 annualized dividend and a yield of 16.93%. Cherry Hill Mortgage Investment’s payout ratio is currently -39.47%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Wolverine Asset Management LLC purchased a new position in Cherry Hill Mortgage Investment during the 3rd quarter worth $665,000. Barclays PLC purchased a new position in Cherry Hill Mortgage Investment during the 3rd quarter worth $52,000. Geode Capital Management LLC increased its holdings in Cherry Hill Mortgage Investment by 7.6% during the 3rd quarter. Geode Capital Management LLC now owns 337,392 shares of the real estate investment trust’s stock worth $1,225,000 after purchasing an additional 23,947 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Cherry Hill Mortgage Investment during the 3rd quarter worth $49,000. Finally, Penserra Capital Management LLC increased 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 valued at $964,000 after acquiring an additional 49,600 shares during the period. 18.49% of the stock is currently 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. It operates through Investments in RMBS (residential mortgage-backed securities) and Investments in Servicing Related Assets segments.