Cherry Hill Mortgage Investment Corporation (NYSE:CHMI) Sees Large Decline in Short Interest

Cherry Hill Mortgage Investment Corporation (NYSE:CHMI) was the target of a significant decrease in short interest in the month of July. As of July 15th, there was short interest totaling 327,735 shares, a decrease of 38.9% from the June 30th total of 536,221 shares. Based on an average daily volume of 162,765 shares, the short-interest ratio is presently 2.0 days. Currently, 0.9% of the shares of the company are sold short.

Cherry Hill Mortgage Investment Stock Performance

Cherry Hill Mortgage Investment stock traded up $0.01 during mid-day trading on Friday, reaching $2.27. The company’s stock had a trading volume of 353,149 shares, compared to its average volume of 149,537. Cherry Hill Mortgage Investment has a 12-month low of $2.17 and a 12-month high of $3.04. The company has a market capitalization of $83.22 million, a P/E ratio of 20.59 and a beta of 0.92. The firm’s fifty day moving average price is $2.35 and its two-hundred day moving average price is $2.52.

Cherry Hill Mortgage Investment (NYSE:CHMI) last posted its earnings results on Thursday, May 7th. The real estate investment trust reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.02. The firm had revenue of $4.64 million for the quarter, compared to the consensus estimate of $10.30 million. Cherry Hill Mortgage Investment had a return on equity of 17.95% and a net margin of 18.88%. On average, research analysts predict that Cherry Hill Mortgage Investment will post 0.57 EPS for the current fiscal year.

Cherry Hill Mortgage Investment Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th were issued a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.40 annualized dividend and a dividend yield of 17.7%. Cherry Hill Mortgage Investment’s dividend payout ratio is presently 363.64%.

Analyst Upgrades and Downgrades

CHMI has been the topic of several research reports. Weiss Ratings restated a “sell (d)” rating on shares of Cherry Hill Mortgage Investment in a research note on Wednesday, June 24th. Wall Street Zen lowered Cherry Hill Mortgage Investment from a “strong-buy” rating to a “buy” rating in a report on Saturday. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Cherry Hill Mortgage Investment currently has an average rating of “Hold” and an average target price of $3.00.

Hedge Funds Weigh In On Cherry Hill Mortgage Investment

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Summit Financial LLC increased its position in shares of Cherry Hill Mortgage Investment by 106.1% during the 4th quarter. Summit Financial LLC now owns 1,010,876 shares of the real estate investment trust’s stock valued at $2,679,000 after purchasing an additional 520,291 shares during the last quarter. Corient Private Wealth LLC bought a new position in Cherry Hill Mortgage Investment during the second quarter valued at approximately $908,000. PVG Asset Management Corp raised its stake in shares of Cherry Hill Mortgage Investment by 264.7% during the fourth quarter. PVG Asset Management Corp now owns 201,260 shares of the real estate investment trust’s stock worth $513,000 after acquiring an additional 146,080 shares in the last quarter. Hudson Bay Capital Management LP bought a new stake in shares of Cherry Hill Mortgage Investment in the 2nd quarter worth approximately $374,000. Finally, Two Sigma Investments LP boosted its stake in shares of Cherry Hill Mortgage Investment by 92.8% in the 3rd quarter. Two Sigma Investments LP now owns 260,759 shares of the real estate investment trust’s stock valued at $623,000 after purchasing an additional 125,499 shares in the last quarter. Hedge funds and other institutional investors own 18.49% of the company’s stock.

About Cherry Hill Mortgage Investment

Cherry Hill Mortgage Investment Corporation is a real estate investment trust that focuses on acquiring, financing and managing residential mortgage loans and mortgage-related securities. The company’s portfolio consists primarily of agency and non-agency residential mortgage loans secured by single-family residences, together with mortgage-backed securities issued or guaranteed by Fannie Mae, Freddie Mac and Ginnie Mae.

CHMI employs active portfolio management strategies intended to generate current income and total return for its shareholders.