Cherry Hill Mortgage Investment (NYSE:CHMI) Stock Crosses Below 50 Day Moving Average – Should You Sell?
by Sarita Garza · The Markets DailyCherry Hill Mortgage Investment Corporation (NYSE:CHMI – Get Free Report)’s stock price passed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $2.63 and traded as low as $2.56. Cherry Hill Mortgage Investment shares last traded at $2.6150, with a volume of 147,945 shares traded.
Analyst Upgrades and Downgrades
A number of brokerages recently commented on CHMI. Credit Suisse Group set a $3.00 price target on Cherry Hill Mortgage Investment in a research note on Thursday, January 22nd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Cherry Hill Mortgage Investment in a research note on Monday, December 29th. Citigroup reaffirmed an “outperform” rating on shares of Cherry Hill Mortgage Investment in a report on Thursday, January 22nd. Finally, Citizens Jmp increased 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. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Cherry Hill Mortgage Investment currently has an average rating of “Hold” and a consensus target price of $3.00.
Get Our Latest Stock Report on CHMI
Cherry Hill Mortgage Investment Stock Performance
The stock has a market cap of $98.13 million, a P/E ratio of -20.55 and a beta of 1.03. The stock’s fifty day moving average is $2.63 and its 200 day moving average is $2.57.
Cherry Hill Mortgage Investment (NYSE:CHMI – Get Free Report) last issued its quarterly earnings data on Wednesday, February 25th. The real estate investment trust reported $0.11 earnings per share for the quarter, hitting the consensus estimate of $0.11. The company had revenue of $11.76 million for the quarter, compared to analysts’ expectations of $2.45 million. Cherry Hill Mortgage Investment had a return on equity of 16.21% and a net margin of 7.28%. Equities research analysts predict that Cherry Hill Mortgage Investment Corporation will post 0.38 EPS for the current year.
Cherry Hill Mortgage Investment Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Wednesday, December 31st were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 15.0%. The ex-dividend date was Wednesday, December 31st. Cherry Hill Mortgage Investment’s dividend payout ratio is presently -307.69%.
Institutional Trading of Cherry Hill Mortgage Investment
A number of institutional investors have recently bought and sold shares of CHMI. Summit Financial LLC increased its stake in Cherry Hill Mortgage Investment by 106.1% in 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 buying an additional 520,291 shares during the period. Geode Capital Management LLC boosted its position in 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 buying an additional 15,510 shares during the period. Corient Private Wealth LLC bought a new position in Cherry Hill Mortgage Investment in the 2nd quarter worth about $908,000. Two Sigma Investments LP grew its stake in Cherry Hill Mortgage Investment by 92.8% in the 3rd quarter. Two Sigma Investments LP now owns 260,759 shares of the real estate investment trust’s stock worth $623,000 after acquiring an additional 125,499 shares in the last quarter. Finally, PVG Asset Management Corp increased its position in shares of Cherry Hill Mortgage Investment by 264.7% during the fourth quarter. PVG Asset Management Corp now owns 201,260 shares of the real estate investment trust’s stock worth $513,000 after acquiring an additional 146,080 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 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.