Janney Montgomery Scott Begins Coverage on Cherry Hill Mortgage Investment (NYSE:CHMI)

Janney Montgomery Scott initiated coverage on shares of Cherry Hill Mortgage Investment (NYSE:CHMI) in a report issued on Thursday, Marketbeat reports. The brokerage set a “buy” rating and a $4.00 price target on the real estate investment trust’s stock. Janney Montgomery Scott’s price objective points to a potential upside of 52.67% from the stock’s current price.

Separately, StockNews.com cut shares of Cherry Hill Mortgage Investment from a “hold” rating to a “sell” rating in a research note on Wednesday, December 11th.

Cherry Hill Mortgage Investment Price Performance

NYSE CHMI opened at $2.62 on Thursday. The stock has a market capitalization of $82.86 million, a P/E ratio of -1.72 and a beta of 1.38. Cherry Hill Mortgage Investment has a 52-week low of $2.50 and a 52-week high of $4.11. The firm has a 50-day moving average price of $2.80 and a 200 day moving average price of $3.34.

Cherry Hill Mortgage Investment (NYSE:CHMI) last issued its earnings results on Tuesday, November 12th. The real estate investment trust reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.06). Cherry Hill Mortgage Investment had a positive return on equity of 15.18% and a negative net margin of 60.97%. The business had revenue of $14.33 million for the quarter. During the same period last year, the business posted $0.16 earnings per share. On average, equities research analysts expect that Cherry Hill Mortgage Investment will post 0.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cherry Hill Mortgage Investment

Several institutional investors and hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC raised its position in Cherry Hill Mortgage Investment by 7.9% during the second quarter. Renaissance Technologies LLC now owns 507,684 shares of the real estate investment trust’s stock worth $1,843,000 after acquiring an additional 37,300 shares during the last quarter. Members Trust Co purchased a new position in shares of Cherry Hill Mortgage Investment during the 3rd quarter worth approximately $47,000. Hudson Valley Investment Advisors Inc. ADV raised its position in shares of Cherry Hill Mortgage Investment by 133.3% during 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 during the last quarter. Forum Financial Management LP raised its holdings in shares of Cherry Hill Mortgage Investment by 4.4% in the third 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 during the last quarter. Finally, Wolverine Asset Management LLC acquired a new position in shares of Cherry Hill Mortgage Investment in the third quarter worth $665,000. 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.