Cherry Hill Mortgage Investment (NYSE:CHMI) Stock Price Crosses Below Two Hundred Day Moving Average – Here’s Why

Shares of Cherry Hill Mortgage Investment Co. (NYSE:CHMI) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $3.61 and traded as low as $3.44. Cherry Hill Mortgage Investment shares last traded at $3.45, with a volume of 503,349 shares.

Analyst Ratings Changes

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

Cherry Hill Mortgage Investment Stock Performance

The firm has a 50 day moving average of $3.60 and a two-hundred day moving average of $3.61. The stock has a market cap of $103.12 million, a P/E ratio of -6.75 and a beta of 1.46.

Cherry Hill Mortgage Investment (NYSE:CHMI) last issued its earnings results on Thursday, August 8th. The real estate investment trust reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.07). The company had revenue of $13.68 million during 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 period in the previous year, the firm posted $0.16 earnings per share. On average, sell-side analysts anticipate that Cherry Hill Mortgage Investment Co. will post 0.63 EPS for the current fiscal 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 annualized dividend and a dividend yield of 17.47%. The ex-dividend date is Monday, September 30th. Cherry Hill Mortgage Investment’s dividend payout ratio is -117.65%.

Hedge Funds Weigh In On Cherry Hill Mortgage Investment

A number of institutional investors have recently bought and sold shares of CHMI. Renaissance Technologies LLC increased its holdings in 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 period. Forum Financial Management LP bought a new position in Cherry Hill Mortgage Investment in the 2nd quarter valued at about $1,038,000. Vanguard Group Inc. lifted its position in Cherry Hill Mortgage Investment by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 1,368,084 shares of the real estate investment trust’s stock valued at $4,843,000 after acquiring an additional 36,039 shares in the last quarter. Quadrature Capital Ltd bought a new position in Cherry Hill Mortgage Investment in the 4th quarter valued at about $98,000. Finally, Cannell Capital LLC purchased a new stake in Cherry Hill Mortgage Investment in the 4th quarter valued at about $2,516,000. Institutional investors and hedge funds own 18.49% of the company’s stock.

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.