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

Cherry Hill Mortgage Investment Co. (NYSE:CHMI) shares passed 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 $3.41. Cherry Hill Mortgage Investment shares last traded at $3.42, with a volume of 85,358 shares changing hands.

Analysts Set New Price Targets

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

Cherry Hill Mortgage Investment Stock Performance

The company has a fifty day moving average price of $3.53 and a two-hundred day moving average price of $3.60. The company has a market cap of $102.37 million, a P/E ratio of -6.67 and a beta of 1.46.

Cherry Hill Mortgage Investment (NYSE:CHMI) last posted its quarterly earnings results on Thursday, August 8th. The real estate investment trust reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.07). The company had revenue of $13.68 million for the quarter. Cherry Hill Mortgage Investment had a positive return on equity of 16.36% and a negative net margin of 8.28%. During the same quarter last year, the business earned $0.16 earnings per share. Research analysts anticipate that Cherry Hill Mortgage Investment Co. will post 0.63 EPS for the current year.

Cherry Hill Mortgage Investment Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 17.60%. The ex-dividend date is Monday, September 30th. Cherry Hill Mortgage Investment’s dividend payout ratio is currently -117.65%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Members Trust Co bought a new position in shares of Cherry Hill Mortgage Investment in the third quarter valued at about $47,000. Quadrature Capital Ltd acquired a new stake in Cherry Hill Mortgage Investment during the fourth quarter worth approximately $98,000. Forum Financial Management LP bought a new stake in shares of Cherry Hill Mortgage Investment during the second quarter worth approximately $1,038,000. Renaissance Technologies LLC grew its position in shares of Cherry Hill Mortgage Investment by 7.9% in 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 purchasing an additional 37,300 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of 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 worth $4,843,000 after purchasing an additional 36,039 shares during the period. 18.49% of the stock is currently owned by institutional investors.

Cherry Hill Mortgage Investment Company Profile

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.