Cherry Hill Mortgage Investment (NYSE:CHMI) Shares Pass Below Two Hundred Day Moving Average – Here’s Why

Cherry Hill Mortgage Investment Corporation (NYSE:CHMI) crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $2.57 and traded as low as $2.38. Cherry Hill Mortgage Investment shares last traded at $2.4150, with a volume of 235,983 shares.

Wall Street Analyst Weigh In

CHMI has been the topic of several research analyst reports. Citigroup reissued an “outperform” rating on shares of Cherry Hill Mortgage Investment in a report on Thursday, January 22nd. Credit Suisse Group set a $3.00 target price on Cherry Hill Mortgage Investment in a research note on Thursday, January 22nd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Cherry Hill Mortgage Investment in a research note on Friday, March 27th. Wall Street Zen raised shares of Cherry Hill Mortgage Investment from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Finally, Citizens Jmp upped their price objective on shares of Cherry Hill Mortgage Investment from $2.75 to $3.00 and gave the stock a “market outperform” rating in a research report on Thursday, January 22nd. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Cherry Hill Mortgage Investment has a consensus rating of “Hold” and an average price target of $3.00.

Cherry Hill Mortgage Investment Stock Up 0.6%

The stock has a market capitalization of $88.73 million, a PE ratio of 21.96 and a beta of 0.98. The company has a 50-day moving average of $2.62 and a 200 day moving average of $2.57.

Cherry Hill Mortgage Investment (NYSE:CHMI) last announced its quarterly earnings data on Thursday, May 7th. The real estate investment trust reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. Cherry Hill Mortgage Investment had a return on equity of 17.95% and a net margin of 18.88%.The company had revenue of $4.64 million for the quarter, compared to analyst estimates of $10.30 million. As a group, equities analysts predict that Cherry Hill Mortgage Investment Corporation will post 0.57 EPS for the current fiscal year.

Cherry Hill Mortgage Investment Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 16.6%. The ex-dividend date of this dividend was Tuesday, March 31st. Cherry Hill Mortgage Investment’s dividend payout ratio (DPR) is currently 363.64%.

Institutional Trading of Cherry Hill Mortgage Investment

Several large investors have recently bought and sold shares of the business. Summit Financial LLC raised its holdings in Cherry Hill Mortgage Investment by 106.1% in 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 acquiring an additional 520,291 shares during the last quarter. Corient Private Wealth LLC acquired a new position in shares of Cherry Hill Mortgage Investment during the 2nd quarter worth approximately $908,000. PVG Asset Management Corp grew its position in shares of Cherry Hill Mortgage Investment by 264.7% in the fourth quarter. PVG Asset Management Corp now owns 201,260 shares of the real estate investment trust’s stock valued at $513,000 after purchasing an additional 146,080 shares in the last quarter. Hudson Bay Capital Management LP purchased a new stake in shares of Cherry Hill Mortgage Investment in the second quarter valued at approximately $374,000. Finally, Two Sigma Investments LP increased its holdings in shares of Cherry Hill Mortgage Investment by 92.8% in the third 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 during the last quarter. Hedge funds and other institutional investors own 18.49% of the company’s stock.

Cherry Hill Mortgage Investment Company Profile

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.