Short Interest in Cherry Hill Mortgage Investment Co. (NYSE:CHMI) Rises By 98.4%

Cherry Hill Mortgage Investment Co. (NYSE:CHMI) was the recipient of a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 672,700 shares, an increase of 98.4% from the March 15th total of 339,100 shares. Currently, 2.2% of the company’s shares are sold short. Based on an average daily volume of 342,000 shares, the days-to-cover ratio is presently 2.0 days.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on CHMI shares. StockNews.com upgraded Cherry Hill Mortgage Investment from a “sell” rating to a “hold” rating in a research report on Friday, March 7th. B. Riley upgraded shares of Cherry Hill Mortgage Investment to a “strong-buy” rating in a report on Tuesday, January 7th. Janney Montgomery Scott began coverage on shares of Cherry Hill Mortgage Investment in a research report on Thursday, January 2nd. They set a “buy” rating and a $4.00 price objective on the stock. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Cherry Hill Mortgage Investment in a research report on Thursday, January 23rd.

Insider Activity

In other news, Director Sharon L. Cook sold 13,000 shares of the stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $3.64, for a total transaction of $47,320.00. Following the completion of the sale, the director now directly owns 19,513 shares in the company, valued at approximately $71,027.32. This represents a 39.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.40% of the company’s stock.

Hedge Funds Weigh In On Cherry Hill Mortgage Investment

A number of institutional investors and hedge funds have recently made changes to their positions in CHMI. Root Financial Partners LLC purchased a new stake in shares of Cherry Hill Mortgage Investment in the 4th quarter worth approximately $32,000. Barclays PLC purchased a new stake in shares of Cherry Hill Mortgage Investment in the third quarter worth $52,000. Jane Street Group LLC bought a new position in shares of Cherry Hill Mortgage Investment during the fourth quarter valued at $68,000. Virtu Financial LLC purchased a new position in shares of Cherry Hill Mortgage Investment in the 4th quarter worth about $130,000. Finally, Northern Trust Corp boosted its stake in Cherry Hill Mortgage Investment by 30.9% in the 4th quarter. Northern Trust Corp now owns 128,350 shares of the real estate investment trust’s stock worth $339,000 after purchasing an additional 30,330 shares in the last quarter. Institutional investors own 18.49% of the company’s stock.

Cherry Hill Mortgage Investment Stock Down 1.1 %

Shares of NYSE:CHMI traded down $0.03 during trading on Wednesday, hitting $2.67. The stock had a trading volume of 204,567 shares, compared to its average volume of 257,685. The company has a market capitalization of $84.44 million, a PE ratio of -1.76 and a beta of 1.05. The firm’s fifty day moving average is $3.32 and its 200 day moving average is $3.11. Cherry Hill Mortgage Investment has a 12 month low of $2.34 and a 12 month high of $3.99.

Cherry Hill Mortgage Investment (NYSE:CHMI) last posted its quarterly earnings data on Thursday, March 6th. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.10. Cherry Hill Mortgage Investment had a positive return on equity of 15.18% and a negative net margin of 60.97%. The business had revenue of $0.66 million during the quarter, compared to the consensus estimate of $1.50 million. Equities research analysts expect that Cherry Hill Mortgage Investment will post 0.38 EPS for the current fiscal year.

Cherry Hill Mortgage Investment Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 22.47%. The ex-dividend date is Monday, March 31st. Cherry Hill Mortgage Investment’s dividend payout ratio (DPR) is presently 1,000.00%.

About Cherry Hill Mortgage Investment

Cherry Hill Mortgage Investment Corporation, a residential real estate finance company, acquires, invests in, and manages residential mortgage assets in the United States. It operates through Investments in RMBS (residential mortgage-backed securities) and Investments in Servicing Related Assets segments.