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

Cherry Hill Mortgage Investment Corporation (NYSE:CHMI) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.54 and traded as low as $2.32. Cherry Hill Mortgage Investment shares last traded at $2.3350, with a volume of 120,570 shares changing hands.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of Cherry Hill Mortgage Investment in a report on Wednesday, June 24th. Wall Street Zen raised shares of Cherry Hill Mortgage Investment from a “buy” rating to a “strong-buy” rating in a research note on Sunday, June 28th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Cherry Hill Mortgage Investment has a consensus rating of “Hold” and an average target price of $3.00.

Cherry Hill Mortgage Investment Trading Down 1.1%

The firm has a market cap of $85.79 million, a price-to-earnings ratio of 21.23 and a beta of 0.92. The business’s 50-day simple moving average is $2.37 and its two-hundred day simple moving average is $2.54.

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

Cherry Hill Mortgage Investment Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 17.1%. The ex-dividend date of this dividend is Tuesday, June 30th. Cherry Hill Mortgage Investment’s dividend payout ratio (DPR) is currently 363.64%.

Institutional Trading of Cherry Hill Mortgage Investment

A number of large investors have recently bought and sold shares of CHMI. Jane Street Group LLC increased its holdings in Cherry Hill Mortgage Investment by 262.5% in the first quarter. Jane Street Group LLC now owns 93,672 shares of the real estate investment trust’s stock worth $309,000 after purchasing an additional 67,832 shares in the last quarter. Envestnet Asset Management Inc. bought a new stake in shares of Cherry Hill Mortgage Investment in the 2nd quarter valued at $45,000. Glenview Trust co bought a new stake in shares of Cherry Hill Mortgage Investment in the 2nd quarter valued at $34,000. Hudson Bay Capital Management LP acquired a new position in shares of Cherry Hill Mortgage Investment during the 2nd quarter valued at $374,000. Finally, Vident Advisory LLC boosted its position in shares of Cherry Hill Mortgage Investment by 58.2% during the 2nd quarter. Vident Advisory LLC now owns 59,061 shares of the real estate investment trust’s stock worth $161,000 after purchasing an additional 21,731 shares in the last quarter. 18.49% of the stock is currently owned by institutional investors and hedge funds.

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.