Cherry Hill Mortgage Investment (NYSE:CHMI) Cut to Sell at Zacks Investment Research

Cherry Hill Mortgage Investment (NYSE:CHMIGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Friday, Zacks.com reports.

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. “

Separately, StockNews.com began coverage on Cherry Hill Mortgage Investment in a research note on Thursday, March 31st. They issued a “hold” rating for the company.

Shares of CHMI stock traded down $0.22 during trading hours on Friday, reaching $6.55. 175,203 shares of the company’s stock were exchanged, compared to its average volume of 199,296. The company has a market cap of $119.62 million, a P/E ratio of 50.38 and a beta of 1.15. The company’s 50 day moving average is $7.53 and its two-hundred day moving average is $8.20. Cherry Hill Mortgage Investment has a 1 year low of $6.55 and a 1 year high of $10.68.

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Cherry Hill Mortgage Investment (NYSE:CHMIGet Rating) last issued its earnings results on Tuesday, March 15th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.04. Cherry Hill Mortgage Investment had a return on equity of 16.83% and a net margin of 51.61%. During the same quarter in the prior year, the business posted $0.37 earnings per share. Sell-side analysts forecast that Cherry Hill Mortgage Investment will post 1.45 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Concorde Asset Management LLC increased its position in Cherry Hill Mortgage Investment by 1.9% during the fourth quarter. Concorde Asset Management LLC now owns 93,657 shares of the real estate investment trust’s stock worth $775,000 after buying an additional 1,785 shares in the last quarter. Wiley BROS. Aintree Capital LLC increased its position in Cherry Hill Mortgage Investment by 1.1% during the fourth quarter. Wiley BROS. Aintree Capital LLC now owns 168,313 shares of the real estate investment trust’s stock worth $1,392,000 after buying an additional 1,892 shares in the last quarter. Invesco Ltd. increased its position in Cherry Hill Mortgage Investment by 3.6% during the third quarter. Invesco Ltd. now owns 54,792 shares of the real estate investment trust’s stock worth $487,000 after buying an additional 1,914 shares in the last quarter. Citigroup Inc. increased its position in Cherry Hill Mortgage Investment by 5.6% during the fourth quarter. Citigroup Inc. now owns 53,123 shares of the real estate investment trust’s stock worth $439,000 after buying an additional 2,813 shares in the last quarter. Finally, Allworth Financial LP purchased a new position in Cherry Hill Mortgage Investment during the first quarter worth $29,000. 27.73% of the stock is owned by hedge funds and other institutional investors.

About Cherry Hill Mortgage Investment (Get Rating)

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 (residential mortgage-backed securities), Investments in Servicing Related Assets, and All Other segments.

Further Reading

Get a free copy of the Zacks research report on Cherry Hill Mortgage Investment (CHMI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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