B.Riley analyst Matt Howlett downgraded Cherry Hill Mortgage (NYSE: CHMI) from Buy to Neutral with a price target of $3.10 (from $3.00).

The analyst comments "On 8/10 BMO, Cherry Hill Mortgage Investment (CHMI — Buy, $3 PT) reported 2Q26 earnings available for distribution/sh. (EAD) of $0.15, beating consensus and our $0.13 estimates. Net interest income was reported at $4.7M, above our $4.1M estimate. Book value was down Q/ Q from $3.23 at 1Q26 to $3.16. The company maintained its quarterly dividend at $0.10/sh., representing a ~16.6% annualized dividend yield on the current price. Along with the quarter results, CHMI announced that it has entered into a definitive merger agreement with TPG Mortgage Investment Trust (MITT – NR), more details below. With the news, we are downgrading CHMI from Buy to Neutral, PT from $3.00 to $3.10."

For an analyst ratings summary and ratings history on Cherry Hill Mortgage click here. For more ratings news on Cherry Hill Mortgage click here.

Shares of Cherry Hill Mortgage closed at $2.41 yesterday.