Cherry Hill Mortgage Investment (NYSE:CHMI) Stock Price Passes Above Fifty Day Moving Average – Here’s Why

Cherry Hill Mortgage Investment Corporation (NYSE:CHMI)’s share price passed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $2.49 and traded as high as $2.60. Cherry Hill Mortgage Investment shares last traded at $2.5850, with a volume of 136,113 shares.

Analysts Set New Price Targets

A number of research analysts recently commented on CHMI shares. Citigroup reaffirmed a “market outperform” rating on shares of Cherry Hill Mortgage Investment in a research report on Thursday, December 18th. Janney Montgomery Scott downgraded shares of Cherry Hill Mortgage Investment from a “buy” rating to a “neutral” rating in a research report on Monday, October 13th. Weiss Ratings reiterated a “sell (d)” rating on shares of Cherry Hill Mortgage Investment in a research report on Monday, December 29th. Wall Street Zen lowered Cherry Hill Mortgage Investment from a “buy” rating to a “hold” rating in a research note on Sunday, September 28th. Finally, Citizens Jmp upgraded shares of Cherry Hill Mortgage Investment from a “market perform” rating to an “outperform” rating and set a $2.75 target price on the stock in a report on Thursday, November 6th. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $2.75.

Cherry Hill Mortgage Investment Trading Down 0.2%

The business’s 50-day simple moving average is $2.49 and its two-hundred day simple moving average is $2.61. The company has a market capitalization of $94.97 million, a PE ratio of 129.25 and a beta of 1.04.

Cherry Hill Mortgage Investment (NYSE:CHMI) last released its earnings results on Thursday, November 6th. The real estate investment trust reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.02). The company had revenue of $8.57 million during the quarter, compared to the consensus estimate of $2.87 million. Cherry Hill Mortgage Investment had a return on equity of 16.17% and a net margin of 14.15%. On average, analysts forecast that Cherry Hill Mortgage Investment Corporation will post 0.38 EPS for the current year.

Cherry Hill Mortgage Investment Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Wednesday, December 31st will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 15.5%. The ex-dividend date is Wednesday, December 31st. Cherry Hill Mortgage Investment’s dividend payout ratio is presently 2,000.00%.

Hedge Funds Weigh In On Cherry Hill Mortgage Investment

Several institutional investors have recently modified their holdings of CHMI. Corient Private Wealth LLC acquired a new stake in shares of Cherry Hill Mortgage Investment in the 2nd quarter worth about $908,000. Two Sigma Investments LP grew its position in Cherry Hill Mortgage Investment by 92.8% in the 3rd quarter. Two Sigma Investments LP now owns 260,759 shares of the real estate investment trust’s stock worth $623,000 after purchasing an additional 125,499 shares during the last quarter. Hudson Bay Capital Management LP acquired a new stake in shares of Cherry Hill Mortgage Investment in the second quarter valued at approximately $374,000. Jane Street Group LLC increased its stake in shares of 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 valued at $309,000 after purchasing an additional 67,832 shares during the period. Finally, Vident Advisory LLC raised its holdings in shares of Cherry Hill Mortgage Investment by 58.2% during the second quarter. Vident Advisory LLC now owns 59,061 shares of the real estate investment trust’s stock valued at $161,000 after buying an additional 21,731 shares during the last quarter. 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.