Cherry Hill Mortgage Investment Corp (CHMI) Rating Increased to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Cherry Hill Mortgage Investment Corp (NYSE:CHMI) from a strong sell rating to a buy rating in a research note published on Wednesday. The brokerage currently has $21.00 target price on the stock.

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, Barclays PLC set a $19.00 price objective on Cherry Hill Mortgage Investment Corp and gave the stock a hold rating in a research note on Sunday, January 8th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Cherry Hill Mortgage Investment Corp currently has a consensus rating of Buy and a consensus target price of $19.63.

Analyst Recommendations for Cherry Hill Mortgage Investment Corp (NYSE:CHMI)

Shares of Cherry Hill Mortgage Investment Corp (NYSE:CHMI) opened at 16.70 on Wednesday. Cherry Hill Mortgage Investment Corp has a 52 week low of $14.01 and a 52 week high of $19.14. The firm has a market capitalization of $125.67 million, a PE ratio of 5.06 and a beta of 0.34. The company has a 50-day moving average of $18.20 and a 200-day moving average of $17.65.

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The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 25th. Shareholders of record on Monday, March 20th will be paid a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 11.74%. The ex-dividend date of this dividend is Thursday, March 16th. Cherry Hill Mortgage Investment Corp’s payout ratio is 179.82%.

In related news, CFO Martin Levine bought 2,000 shares of the business’s stock in a transaction on Friday, March 24th. The shares were bought at an average cost of $16.48 per share, for a total transaction of $32,960.00. Following the completion of the purchase, the chief financial officer now owns 16,600 shares of the company’s stock, valued at approximately $273,568. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders acquired 3,750 shares of company stock worth $61,835 over the last quarter. 14.90% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of CHMI. Putnam Investments LLC boosted its stake in Cherry Hill Mortgage Investment Corp by 1.2% in the fourth quarter. Putnam Investments LLC now owns 110,564 shares of the company’s stock worth $2,011,000 after buying an additional 1,300 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its stake in Cherry Hill Mortgage Investment Corp by 0.9% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 16,214 shares of the company’s stock worth $295,000 after buying an additional 139 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Cherry Hill Mortgage Investment Corp by 29.7% in the fourth quarter. Renaissance Technologies LLC now owns 588,000 shares of the company’s stock worth $10,696,000 after buying an additional 134,530 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in Cherry Hill Mortgage Investment Corp during the fourth quarter worth about $208,000. Finally, Acadian Asset Management LLC boosted its stake in Cherry Hill Mortgage Investment Corp by 11.5% in the third quarter. Acadian Asset Management LLC now owns 305,108 shares of the company’s stock worth $5,221,000 after buying an additional 31,393 shares during the last quarter. Institutional investors own 47.60% of the company’s stock.

Cherry Hill Mortgage Investment Corp Company Profile

Cherry Hill Mortgage Investment Corporation is a residential real estate finance company. The Company is focused on acquiring, investing in and managing residential mortgage assets in the United States. Its principal objective is to generate attractive current yields and risk-adjusted total returns for its stockholders over the long term, primarily through dividend distributions and secondarily through capital appreciation.

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