Cherry Hill Mortgage Investment (NYSE:CHMI) Shares Pass Below 200-Day Moving Average – What’s Next?

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 $2.38. Cherry Hill Mortgage Investment shares last traded at $2.4150, with a volume of 235,983 shares.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CHMI. Citigroup restated an “outperform” rating on shares of Cherry Hill Mortgage Investment in a research report on Thursday, January 22nd. Wall Street Zen upgraded Cherry Hill Mortgage Investment from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Weiss Ratings restated a “sell (d)” rating on shares of Cherry Hill Mortgage Investment in a research report on Friday, March 27th. Citizens Jmp raised their target price on Cherry Hill Mortgage Investment from $2.75 to $3.00 and gave the company a “market outperform” rating in a research report on Thursday, January 22nd. Finally, Credit Suisse Group set a $3.00 price target on shares of Cherry Hill Mortgage Investment in a research report 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’s stock. According to data from MarketBeat, Cherry Hill Mortgage Investment has a consensus rating of “Hold” and a consensus target price of $3.00.

Cherry Hill Mortgage Investment Trading Down 1.8%

The stock’s fifty day moving average price is $2.61 and its 200-day moving average price is $2.57. The firm has a market cap of $89.09 million, a price-to-earnings ratio of 22.05 and a beta of 0.98.

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

Cherry Hill Mortgage Investment Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 16.5%. The ex-dividend date was Tuesday, March 31st. Cherry Hill Mortgage Investment’s dividend payout ratio is 363.64%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CHMI. Money Concepts Capital Corp purchased a new stake in shares of Cherry Hill Mortgage Investment in the 1st quarter valued at approximately $68,000. XTX Topco Ltd acquired a new stake in shares of Cherry Hill Mortgage Investment during the 4th quarter worth about $27,000. Cetera Investment Advisers raised its position in shares of Cherry Hill Mortgage Investment by 50.9% during the 4th 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 in the last quarter. State Street Corp raised its position in shares of Cherry Hill Mortgage Investment by 11.3% during the 4th quarter. State Street Corp now owns 150,191 shares of the real estate investment trust’s stock worth $398,000 after acquiring an additional 15,300 shares in the last quarter. Finally, Summit Financial LLC raised its position in shares of Cherry Hill Mortgage Investment by 106.1% during the 4th quarter. Summit Financial LLC now owns 1,010,876 shares of the real estate investment trust’s stock worth $2,679,000 after acquiring an additional 520,291 shares in the last quarter. Hedge funds and other 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.