Cherry Hill Mortgage Investment (NYSE:CHMI) Shares Break Below Two Hundred Day Moving Average – Time to Sell?

by · The Markets Daily

Cherry Hill Mortgage Investment Corporation (NYSE:CHMI – Get Free Report) crossed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $2.59 and traded as low as $2.57. Cherry Hill Mortgage Investment shares last traded at $2.5850, with a volume of 105,009 shares changing hands.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Weiss Ratings lowered Cherry Hill Mortgage Investment from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, October 2nd. B. Riley Financial downgraded Cherry Hill Mortgage Investment from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 10th. Wall Street Zen cut shares of Cherry Hill Mortgage Investment from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 1st. Finally, Citizens Jmp downgraded shares of Cherry Hill Mortgage Investment from a “market outperform” rating to a “hold” rating in a research note on Tuesday, August 11th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $3.00.

Check Out Our Latest Analysis on Cherry Hill Mortgage Investment

Cherry Hill Mortgage Investment Price Performance

The firm has a 50-day simple moving average of $2.69 and a 200 day simple moving average of $2.59. The stock has a market capitalization of $84.43 million, a P/E ratio of 114.31 and a beta of 1.02.

Cherry Hill Mortgage Investment (NYSE:CHMI – Get Free Report) last announced its quarterly earnings results on Thursday, October 29th. The real estate investment trust reported $0.14 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.14. The firm had revenue of $6.56 million during the quarter, compared to analysts’ expectations of $11.20 million. Cherry Hill Mortgage Investment had a net margin of 17.18% and a return on equity of 24.21%. Sell-side analysts anticipate that Cherry Hill Mortgage Investment Corporation will post 0.59 earnings per share for the current fiscal year.

Cherry Hill Mortgage Investment Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 30th. Investors of record on Wednesday, September 30th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 17.5%. The ex-dividend date of this dividend was Wednesday, September 30th. Cherry Hill Mortgage Investment’s dividend payout ratio (DPR) is currently 2,000.00%.

Institutional Investors Weigh In On Cherry Hill Mortgage Investment

A number of institutional investors have recently made changes to their positions in the stock. Glenview Trust Co bought a new stake in shares of Cherry Hill Mortgage Investment in the 2nd quarter valued at $29,000. Ritholtz Wealth Management bought a new position in Cherry Hill Mortgage Investment during the third quarter worth $34,000. Gables Capital Management Inc. bought a new position in Cherry Hill Mortgage Investment during the second quarter worth $46,000. Money Concepts Capital Corp bought a new position in Cherry Hill Mortgage Investment during the first quarter worth $68,000. Finally, Corient Private Wealth LP acquired a new position in Cherry Hill Mortgage Investment in the second quarter valued at $397,000. Institutional investors own 18.49% of the company’s stock.

About Cherry Hill Mortgage Investment

(Get Free Report)

Cherry Hill Mortgage Investment Corporation (NYSE: CHMI) is a real estate investment trust focused on residential mortgage assets. The company seeks to generate income primarily by investing in and managing mortgage-related investments rather than originating conventional consumer loans.

Its investment portfolio has included agency residential mortgage-backed securities, non-agency residential mortgage-backed securities, mortgage servicing rights and other assets associated with the U.S.

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