B. Riley Upgrades Cherry Hill Mortgage Investment (NYSE:CHMI) to “Strong-Buy”

Cherry Hill Mortgage Investment (NYSE:CHMI) was upgraded by research analysts at B. Riley to a “strong-buy” rating in a note issued to investors on Tuesday,Zacks.com reports.

CHMI has been the topic of several other research reports. StockNews.com raised Cherry Hill Mortgage Investment from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. Janney Montgomery Scott began coverage on Cherry Hill Mortgage Investment in a research report on Thursday, January 2nd. They set a “buy” rating and a $4.00 price target on the stock.

Cherry Hill Mortgage Investment Trading Down 1.4 %

Shares of CHMI opened at $2.81 on Tuesday. The firm has a fifty day moving average price of $2.77 and a 200-day moving average price of $3.31. The firm has a market capitalization of $88.87 million, a P/E ratio of -1.85 and a beta of 1.38. Cherry Hill Mortgage Investment has a 12-month low of $2.50 and a 12-month high of $4.10.

Cherry Hill Mortgage Investment (NYSE:CHMI) last released its quarterly earnings data 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 company 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 period last year, the business posted $0.16 earnings per share. Analysts predict that Cherry Hill Mortgage Investment will post 0.38 earnings per share for the current year.

Hedge Funds Weigh In On Cherry Hill Mortgage Investment

Large investors have recently bought and sold shares of the business. Renaissance Technologies LLC increased its holdings in shares of 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 acquiring an additional 37,300 shares during the period. Members Trust Co purchased a new stake in shares of Cherry Hill Mortgage Investment during the 3rd quarter valued at $47,000. Hudson Valley Investment Advisors Inc. ADV boosted its position 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 purchasing an additional 16,000 shares in the last quarter. Forum Financial Management LP grew its stake in Cherry Hill Mortgage Investment by 4.4% during 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 buying an additional 12,600 shares during the last quarter. Finally, Wolverine Asset Management LLC acquired a new position in Cherry Hill Mortgage Investment during the 3rd quarter valued at about $665,000. Institutional investors own 18.49% of the company’s stock.

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.