Cherry Hill Mortgage Investment (NYSE:CHMI) Stock Crosses Below 200 Day Moving Average of $3.60

Cherry Hill Mortgage Investment Co. (NYSE:CHMI)’s stock price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $3.60 and traded as low as $3.46. Cherry Hill Mortgage Investment shares last traded at $3.50, with a volume of 51,768 shares changing hands.

Analysts Set New Price Targets

Separately, JMP Securities reaffirmed a “market perform” rating on shares of Cherry Hill Mortgage Investment in a research note on Wednesday, July 10th.

Cherry Hill Mortgage Investment Stock Up 0.4 %

The stock has a market cap of $105.13 million, a P/E ratio of -6.85 and a beta of 1.47. The business has a 50 day moving average price of $3.64 and a two-hundred day moving average price of $3.60.

Cherry Hill Mortgage Investment (NYSE:CHMI) last posted its earnings results on Thursday, August 8th. The real estate investment trust reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.07). Cherry Hill Mortgage Investment had a positive return on equity of 16.36% and a negative net margin of 8.28%. The firm had revenue of $13.68 million during the quarter. During the same quarter in the prior year, the company earned $0.16 EPS. On average, research analysts forecast that Cherry Hill Mortgage Investment Co. will post 0.63 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 Wednesday, July 31st. Investors of record on Friday, June 28th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 17.17%. The ex-dividend date of this dividend was Thursday, June 27th. Cherry Hill Mortgage Investment’s payout ratio is presently -117.65%.

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 company. Vanguard Group Inc. boosted its stake in Cherry Hill Mortgage Investment by 2.7% during the first quarter. Vanguard Group Inc. now owns 1,368,084 shares of the real estate investment trust’s stock valued at $4,843,000 after buying an additional 36,039 shares during the last quarter. Cannell Capital LLC bought a new position in Cherry Hill Mortgage Investment during the fourth quarter valued at approximately $2,516,000. Renaissance Technologies LLC boosted its stake in Cherry Hill Mortgage Investment by 7.9% during the second quarter. Renaissance Technologies LLC now owns 507,684 shares of the real estate investment trust’s stock valued at $1,843,000 after buying an additional 37,300 shares during the last quarter. Forum Financial Management LP bought a new stake in shares of Cherry Hill Mortgage Investment in the 2nd quarter valued at approximately $1,038,000. Finally, Jump Financial LLC bought a new stake in shares of Cherry Hill Mortgage Investment in the 4th quarter valued at approximately $171,000. 18.49% of the stock is owned by institutional investors.

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.