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

Cherry Hill Mortgage Investment Corporation (NYSE:CHMI) passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $2.74 and traded as low as $2.27. Cherry Hill Mortgage Investment shares last traded at $2.2850, with a volume of 255,334 shares.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on CHMI shares. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Cherry Hill Mortgage Investment in a report on Wednesday, October 8th. Janney Montgomery Scott downgraded shares of Cherry Hill Mortgage Investment from a “buy” rating to a “neutral” rating in a report on Monday, October 13th. Citizens Jmp upgraded Cherry Hill Mortgage Investment from a “market perform” rating to an “outperform” rating and set a $2.75 price target for the company in a research note on Thursday, November 6th. Finally, Wall Street Zen cut Cherry Hill Mortgage Investment from a “buy” rating to a “hold” rating in a report on Sunday, September 28th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $3.38.

Cherry Hill Mortgage Investment Stock Performance

The company has a market capitalization of $82.85 million, a P/E ratio of 112.75 and a beta of 0.98. The business’s fifty day simple moving average is $2.45 and its 200-day simple moving average is $2.73.

Cherry Hill Mortgage Investment (NYSE:CHMI) last issued its quarterly earnings data on Thursday, November 6th. The real estate investment trust reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.02). Cherry Hill Mortgage Investment had a net margin of 14.15% and a return on equity of 16.17%. The firm had revenue of $8.57 million for the quarter, compared to analysts’ expectations of $2.87 million. As a group, analysts forecast that Cherry Hill Mortgage Investment Corporation will post 0.38 EPS for the current year.

Cherry Hill Mortgage Investment Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th were paid a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $0.40 dividend on an annualized basis and a yield of 17.7%. Cherry Hill Mortgage Investment’s payout ratio is presently 2,000.00%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Banco BTG Pactual S.A. purchased a new stake in Cherry Hill Mortgage Investment during the first quarter valued at $36,000. Wealth Preservation Advisors LLC bought a new stake in shares of Cherry Hill Mortgage Investment in the 1st quarter worth about $33,000. Vident Advisory LLC bought a new stake in shares of Cherry Hill Mortgage Investment in the 1st quarter worth about $123,000. Jane Street Group LLC raised its position in shares of Cherry Hill Mortgage Investment by 262.5% during the 1st quarter. Jane Street Group LLC now owns 93,672 shares of the real estate investment trust’s stock valued at $309,000 after buying an additional 67,832 shares in the last quarter. Finally, Ritholtz Wealth Management bought a new position in shares of Cherry Hill Mortgage Investment in the 2nd quarter valued at about $66,000. 18.49% of the stock is owned by hedge funds and other 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.