Cherry Hill Mortgage Investment (NYSE:CHMI) Share Price Crosses Below 200 Day Moving Average – Here’s Why

Cherry Hill Mortgage Investment Corporation (NYSE:CHMI)’s stock price crossed below its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $2.57 and traded as low as $2.56. Cherry Hill Mortgage Investment shares last traded at $2.5850, with a volume of 118,256 shares changing hands.

Wall Street Analysts Forecast Growth

CHMI has been the subject of several recent research reports. B. Riley Financial lowered shares of Cherry Hill Mortgage Investment from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 10th. Wall Street Zen lowered Cherry Hill Mortgage Investment from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 1st. Weiss Ratings cut shares of Cherry Hill Mortgage Investment from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, October 2nd. Finally, Citizens Jmp cut Cherry Hill Mortgage Investment from a “market outperform” rating to a “hold” rating in a research report on Tuesday, August 11th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $3.00.

Cherry Hill Mortgage Investment Price Performance

The company has a market capitalization of $91.82 million, a P/E ratio of 13.81 and a beta of 1.01. The business’s 50-day moving average price is $2.80 and its two-hundred day moving average price is $2.57.

Cherry Hill Mortgage Investment (NYSE:CHMI) last announced its earnings results on Monday, August 10th. The real estate investment trust reported $0.15 EPS for the quarter, topping the consensus estimate of $0.13 by $0.02. The firm had revenue of $7.88 million for the quarter, compared to the consensus estimate of $10.75 million. Cherry Hill Mortgage Investment had a net margin of 26.43% and a return on equity of 21.74%. Research analysts expect that Cherry Hill Mortgage Investment Corporation will post 0.59 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, October 30th. Stockholders of record on Wednesday, September 30th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 16.1%. The ex-dividend date of this dividend is Wednesday, September 30th. Cherry Hill Mortgage Investment’s dividend payout ratio is presently 222.22%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Glenview Trust Co acquired a new position in shares of Cherry Hill Mortgage Investment during the 2nd quarter worth approximately $29,000. Gables Capital Management Inc. acquired a new stake in Cherry Hill Mortgage Investment during the 2nd quarter valued at $46,000. Money Concepts Capital Corp acquired a new stake in Cherry Hill Mortgage Investment during the 1st quarter valued at $68,000. Corient Private Wealth LP acquired a new stake in Cherry Hill Mortgage Investment during the 2nd quarter valued at $397,000. Finally, BlackRock Inc. bought a new position in Cherry Hill Mortgage Investment during the second quarter worth $1,104,000. 18.49% of the stock is currently owned by institutional investors.

Cherry Hill Mortgage Investment Company Profile

Cherry Hill Mortgage Investment Corporation (NYSE:CHMI) is a real estate investment trust that invests in residential mortgage-related assets. The company primarily focuses on generating income from portfolios of mortgage assets tied to the U.S. residential housing market.

Its investments have included agency mortgage-backed securities, which are issued or guaranteed by U.S. government-sponsored entities, as well as mortgage servicing rights and excess mortgage servicing rights. These assets can provide income from interest payments and servicing-related cash flows.

Cherry Hill Mortgage Investment Corporation was founded in 2012 and is externally managed by Cherry Hill Mortgage Management, LLC.