Cherry Hill Mortgage Investment (NYSE:CHMI) Share Price Passes Below Two Hundred Day Moving Average – What’s Next?

Cherry Hill Mortgage Investment Corporation (NYSE:CHMI)’s share price passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $2.58 and traded as low as $2.38. Cherry Hill Mortgage Investment shares last traded at $2.4150, with a volume of 189,943 shares changing hands.

Analysts Set New Price Targets

CHMI has been the topic of several research analyst reports. Wall Street Zen upgraded Cherry Hill Mortgage Investment from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 23rd. Weiss Ratings reiterated a “sell (d)” rating on shares of Cherry Hill Mortgage Investment in a research note on Friday, March 27th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Cherry Hill Mortgage Investment currently has an average rating of “Hold” and a consensus price target of $3.00.

Cherry Hill Mortgage Investment Stock Up 1.9%

The firm has a market cap of $88.73 million, a PE ratio of 21.96 and a beta of 0.93. The firm has a 50 day moving average of $2.57 and a 200 day moving average of $2.58.

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 anticipate that Cherry Hill Mortgage Investment Corporation will post 0.57 EPS for the current year.

Cherry Hill Mortgage Investment Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st were given a dividend of $0.10 per share. The ex-dividend date was Tuesday, March 31st. This represents a $0.40 annualized dividend and a dividend yield of 16.6%. Cherry Hill Mortgage Investment’s dividend payout ratio is currently 363.64%.

Institutional Investors Weigh In On Cherry Hill Mortgage Investment

Several institutional investors have recently made changes to their positions in CHMI. XTX Topco Ltd purchased a new stake in shares of Cherry Hill Mortgage Investment during the fourth quarter worth $27,000. Naviter Wealth LLC purchased a new stake in shares of Cherry Hill Mortgage Investment during the fourth quarter worth $29,000. Glenview Trust co purchased a new stake in shares of Cherry Hill Mortgage Investment during the second quarter worth $34,000. Envestnet Asset Management Inc. purchased a new stake in shares of Cherry Hill Mortgage Investment during the second quarter worth $45,000. Finally, JPMorgan Chase & Co. lifted its position in shares of Cherry Hill Mortgage Investment by 27,027.0% during the third quarter. JPMorgan Chase & Co. now owns 20,074 shares of the real estate investment trust’s stock worth $48,000 after acquiring an additional 20,000 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.