Wedbush assumed coverage on shares of Cherry Hill Mortgage Investment Corp. (NYSE:CHMI) in a research note issued to investors on Wednesday morning. The brokerage issued a neutral rating and a $17.50 target price on the stock.

Several other analysts have also issued reports on CHMI. Zacks Investment Research upgraded Cherry Hill Mortgage Investment Corp. from a hold rating to a buy rating and set a $18.00 price objective on the stock in a research note on Wednesday, June 8th. Citigroup Inc. increased their target price on Cherry Hill Mortgage Investment Corp. from $19.00 to $21.00 and gave the stock a buy rating in a research note on Thursday, August 11th. Finally, TheStreet upgraded Cherry Hill Mortgage Investment Corp. from a sell rating to a hold rating in a research note on Monday. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $18.80.

Cherry Hill Mortgage Investment Corp. (NYSE:CHMI) traded down 0.49% during mid-day trading on Wednesday, reaching $16.40. The company’s stock had a trading volume of 12,181 shares. The company has a 50 day moving average of $16.72 and a 200-day moving average of $15.48. Cherry Hill Mortgage Investment Corp. has a 52-week low of $12.60 and a 52-week high of $18.02. The stock’s market cap is $123.46 million.

Cherry Hill Mortgage Investment Corp. (NYSE:CHMI) last released its quarterly earnings data on Tuesday, August 9th. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.04. Cherry Hill Mortgage Investment Corp. had a positive return on equity of 10.11% and a negative net margin of 8.80%. During the same period last year, the business earned $0.48 EPS. Equities analysts forecast that Cherry Hill Mortgage Investment Corp. will post $0.42 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 25th. Investors of record on Friday, September 30th will be given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 11.89%. The ex-dividend date is Wednesday, September 28th. Cherry Hill Mortgage Investment Corp.’s dividend payout ratio is currently -632.24%.

Large investors have recently modified their holdings of the company. KCG Holdings Inc. bought a new stake in shares of Cherry Hill Mortgage Investment Corp. during the second quarter worth about $200,000. Jacobs Levy Equity Management Inc. bought a new stake in shares of Cherry Hill Mortgage Investment Corp. during the first quarter worth about $263,000. Emerald Acquisition Ltd. bought a new stake in shares of Cherry Hill Mortgage Investment Corp. during the second quarter worth about $311,000. Royal Bank of Canada increased its stake in shares of Cherry Hill Mortgage Investment Corp. by 6.6% in the first quarter. Royal Bank of Canada now owns 29,000 shares of the company’s stock worth $410,000 after buying an additional 1,797 shares in the last quarter. Finally, Parametric Portfolio Associates LLC increased its stake in shares of Cherry Hill Mortgage Investment Corp. by 74.4% in the second quarter. Parametric Portfolio Associates LLC now owns 26,961 shares of the company’s stock worth $420,000 after buying an additional 11,502 shares in the last quarter. 48.23% of the stock is currently owned by institutional investors and hedge funds.

About Cherry Hill Mortgage Investment Corp.

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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