Cherry Hill Mortgage Investment Corporation (NYSE:CHMI) Short Interest Down 38.9% in July

Cherry Hill Mortgage Investment Corporation (NYSE:CHMI) was the recipient of a significant decrease in short interest during the month of July. As of July 15th, there was short interest totaling 327,735 shares, a decrease of 38.9% from the June 30th total of 536,221 shares. Approximately 0.9% of the shares of the stock are sold short. Based on an average trading volume of 162,765 shares, the days-to-cover ratio is presently 2.0 days.

Institutional Investors Weigh In On Cherry Hill Mortgage Investment

Institutional investors have recently added to or reduced their stakes in the business. Summit Financial LLC raised its stake in shares of Cherry Hill Mortgage Investment by 106.1% during the fourth quarter. Summit Financial LLC now owns 1,010,876 shares of the real estate investment trust’s stock valued at $2,679,000 after acquiring an additional 520,291 shares during the last quarter. Corient Private Wealth LLC bought a new stake in shares of Cherry Hill Mortgage Investment in the second quarter worth $908,000. PVG Asset Management Corp increased its holdings in Cherry Hill Mortgage Investment by 264.7% in the fourth quarter. PVG Asset Management Corp now owns 201,260 shares of the real estate investment trust’s stock valued at $513,000 after purchasing an additional 146,080 shares during the period. Hudson Bay Capital Management LP acquired a new stake in Cherry Hill Mortgage Investment in the second quarter valued at $374,000. Finally, Two Sigma Investments LP raised its position in Cherry Hill Mortgage Investment by 92.8% during the 3rd quarter. Two Sigma Investments LP now owns 260,759 shares of the real estate investment trust’s stock worth $623,000 after purchasing an additional 125,499 shares during the last quarter. 18.49% of the stock is owned by institutional investors.

Cherry Hill Mortgage Investment Trading Up 0.5%

CHMI traded up $0.01 on Thursday, reaching $2.25. The stock had a trading volume of 188,410 shares, compared to its average volume of 193,040. Cherry Hill Mortgage Investment has a fifty-two week low of $2.17 and a fifty-two week high of $3.04. The firm has a 50-day moving average of $2.36 and a 200-day moving average of $2.53. The company has a market capitalization of $82.74 million, a price-to-earnings ratio of 20.47 and a beta of 0.92.

Cherry Hill Mortgage Investment (NYSE:CHMI) last posted its earnings results on Thursday, May 7th. The real estate investment trust reported $0.14 EPS for the quarter, beating the consensus estimate of $0.12 by $0.02. The firm had revenue of $4.64 million during the quarter, compared to the consensus estimate of $10.30 million. Cherry Hill Mortgage Investment had a return on equity of 17.95% and a net margin of 18.88%. Sell-side analysts anticipate that Cherry Hill Mortgage Investment will post 0.57 EPS for the current fiscal year.

Cherry Hill Mortgage Investment Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be given a dividend of $0.10 per share. The ex-dividend date is Tuesday, June 30th. This represents a $0.40 annualized dividend and a yield of 17.8%. Cherry Hill Mortgage Investment’s dividend payout ratio (DPR) is currently 363.64%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CHMI. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Cherry Hill Mortgage Investment in a report on Wednesday, June 24th. Wall Street Zen upgraded shares of Cherry Hill Mortgage Investment from a “buy” rating to a “strong-buy” rating in a research report on Sunday, June 28th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $3.00.

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.