Cherry Hill Mortgage Investment (NYSE:CHMI) Stock Passes Below 50-Day Moving Average – What’s Next?

Cherry Hill Mortgage Investment Corporation (NYSE:CHMI) shares passed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $2.63 and traded as low as $2.56. Cherry Hill Mortgage Investment shares last traded at $2.6150, with a volume of 147,945 shares.

Analyst Ratings Changes

Several brokerages recently weighed in on CHMI. Citizens Jmp increased their target price on Cherry Hill Mortgage Investment from $2.75 to $3.00 and gave the company a “market outperform” rating in a report on Thursday, January 22nd. Citigroup reaffirmed an “outperform” rating on shares of Cherry Hill Mortgage Investment in a research note on Thursday, January 22nd. Weiss Ratings reiterated a “sell (d)” rating on shares of Cherry Hill Mortgage Investment in a research report on Monday, December 29th. Finally, Credit Suisse Group set a $3.00 price objective on Cherry Hill Mortgage Investment in a research note on Thursday, January 22nd. Two 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 company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $3.00.

Cherry Hill Mortgage Investment Stock Down 1.3%

The stock has a market cap of $96.08 million, a PE ratio of -20.12 and a beta of 1.03. The business’s 50-day simple moving average is $2.63 and its 200-day simple moving average is $2.57.

Cherry Hill Mortgage Investment (NYSE:CHMI) last posted its earnings results on Wednesday, February 25th. The real estate investment trust reported $0.11 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.11. The company had revenue of $11.76 million during the quarter, compared to analyst estimates of $2.45 million. Cherry Hill Mortgage Investment had a net margin of 7.28% and a return on equity of 16.21%. As a group, equities research analysts anticipate that Cherry Hill Mortgage Investment Corporation will post 0.38 earnings per share for the current fiscal year.

Cherry Hill Mortgage Investment Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st were issued a $0.10 dividend. The ex-dividend date was Wednesday, December 31st. This represents a $0.40 annualized dividend and a yield of 15.3%. Cherry Hill Mortgage Investment’s dividend payout ratio (DPR) is -307.69%.

Institutional Investors Weigh In On Cherry Hill Mortgage Investment

Large investors have recently made changes to their positions in the business. XTX Topco Ltd purchased a new position in shares of Cherry Hill Mortgage Investment during the fourth quarter valued at approximately $27,000. Cetera Investment Advisers lifted its stake in Cherry Hill Mortgage Investment by 50.9% in the fourth quarter. Cetera Investment Advisers now owns 37,054 shares of the real estate investment trust’s stock worth $94,000 after acquiring an additional 12,504 shares during the period. State Street Corp boosted its holdings in Cherry Hill Mortgage Investment by 11.3% in the fourth quarter. State Street Corp now owns 150,191 shares of the real estate investment trust’s stock valued at $398,000 after acquiring an additional 15,300 shares in the last quarter. Summit Financial LLC boosted its holdings in Cherry Hill Mortgage Investment by 106.1% in the fourth 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 in the last quarter. Finally, O Shaughnessy Asset Management LLC increased its position in Cherry Hill Mortgage Investment by 34.3% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 25,546 shares of the real estate investment trust’s stock valued at $65,000 after purchasing an additional 6,525 shares during the period. 18.49% of the stock is currently owned by institutional investors.

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.