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

Cherry Hill Mortgage Investment Corporation (NYSE:CHMI) passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $2.60 and traded as low as $2.57. Cherry Hill Mortgage Investment shares last traded at $2.6250, with a volume of 166,025 shares traded.

Wall Street Analyst Weigh In

CHMI has been the subject of several research reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Cherry Hill Mortgage Investment in a research note on Monday, December 29th. Credit Suisse Group set a $3.00 price objective on Cherry Hill Mortgage Investment in a research report on Thursday, January 22nd. Citizens Jmp lifted their price objective on Cherry Hill Mortgage Investment from $2.75 to $3.00 and gave the stock a “market outperform” rating in a report on Thursday, January 22nd. Finally, Citigroup restated an “outperform” rating on shares of Cherry Hill Mortgage Investment in a research note on Thursday, January 22nd. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $3.00.

Cherry Hill Mortgage Investment Stock Up 2.5%

The stock has a market capitalization of $96.44 million, a price-to-earnings ratio of 131.25 and a beta of 1.04. The stock’s 50-day simple moving average is $2.62 and its 200 day simple moving average is $2.60.

Cherry Hill Mortgage Investment Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Wednesday, December 31st were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 15.2%. The ex-dividend date was Wednesday, December 31st. Cherry Hill Mortgage Investment’s dividend payout ratio is currently 2,000.00%.

Hedge Funds Weigh In On Cherry Hill Mortgage Investment

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its stake in shares of Cherry Hill Mortgage Investment by 4.1% in the 4th quarter. Geode Capital Management LLC now owns 397,276 shares of the real estate investment trust’s stock valued at $1,013,000 after acquiring an additional 15,510 shares during the last quarter. Corient Private Wealth LLC acquired a new position in Cherry Hill Mortgage Investment during the second quarter valued at approximately $908,000. Two Sigma Investments LP increased its stake in Cherry Hill Mortgage Investment by 92.8% in the third quarter. Two Sigma Investments LP now owns 260,759 shares of the real estate investment trust’s stock valued at $623,000 after purchasing an additional 125,499 shares in the last quarter. PVG Asset Management Corp raised its holdings in Cherry Hill Mortgage Investment by 264.7% in the fourth quarter. PVG Asset Management Corp now owns 201,260 shares of the real estate investment trust’s stock worth $513,000 after purchasing an additional 146,080 shares during the period. Finally, Hudson Bay Capital Management LP acquired a new stake in Cherry Hill Mortgage Investment in the second quarter worth $374,000. 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.