Cherry Hill Mortgage Investment (NYSE:CHMI) Share Price Crosses Below 200 Day Moving Average – What’s Next?

Cherry Hill Mortgage Investment Co. (NYSE:CHMI)’s stock price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $3.60 and traded as low as $3.39. Cherry Hill Mortgage Investment shares last traded at $3.40, with a volume of 110,582 shares changing hands.

Analysts Set New Price Targets

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

Cherry Hill Mortgage Investment Stock Down 0.3 %

The company’s fifty day moving average price is $3.55 and its two-hundred day moving average price is $3.60. The company has a market cap of $102.37 million, a price-to-earnings ratio of -6.69 and a beta of 1.46.

Cherry Hill Mortgage Investment (NYSE:CHMI) last announced its earnings results on Thursday, August 8th. The real estate investment trust reported $0.08 earnings per share 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, equities research analysts predict that Cherry Hill Mortgage Investment Co. will post 0.63 earnings per share for the current fiscal year.

Cherry Hill Mortgage Investment Announces Dividend

The company also recently announced 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 yield of 17.60%. The ex-dividend date of this dividend is Monday, September 30th. Cherry Hill Mortgage Investment’s payout ratio is -117.65%.

Hedge Funds Weigh In On Cherry Hill Mortgage Investment

Several hedge funds have recently made changes to their positions in CHMI. Quadrature Capital Ltd acquired a new position in Cherry Hill Mortgage Investment during the fourth quarter worth $98,000. Forum Financial Management LP acquired a new position in shares of Cherry Hill Mortgage Investment during the 2nd quarter worth about $1,038,000. Renaissance Technologies LLC grew its holdings in shares of Cherry Hill Mortgage Investment by 7.9% in the 2nd quarter. Renaissance Technologies LLC now owns 507,684 shares of the real estate investment trust’s stock valued at $1,843,000 after acquiring an additional 37,300 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Cherry Hill Mortgage Investment by 2.7% in 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 acquiring an additional 36,039 shares during the last quarter. 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.