Menta Capital LLC Acquires New Position in Cherry Hill Mortgage Investment Corp (CHMI)
Menta Capital LLC acquired a new stake in shares of Cherry Hill Mortgage Investment Corp (NYSE:CHMI) during the 4th quarter, HoldingsChannel reports. The fund acquired 29,358 shares of the real estate investment trust’s stock, valued at approximately $515,000.
Several other institutional investors and hedge funds have also recently made changes to their positions in CHMI. Synovus Financial Corp purchased a new position in shares of Cherry Hill Mortgage Investment during the fourth quarter valued at approximately $56,000. Advisor Group Inc. lifted its stake in shares of Cherry Hill Mortgage Investment by 675.9% during the fourth quarter. Advisor Group Inc. now owns 4,182 shares of the real estate investment trust’s stock valued at $73,000 after buying an additional 3,643 shares during the period. SG Americas Securities LLC acquired a new position in Cherry Hill Mortgage Investment during the third quarter worth approximately $105,000. MetLife Investment Advisors LLC acquired a new position in Cherry Hill Mortgage Investment during the third quarter worth approximately $225,000. Finally, Meeder Asset Management Inc. increased its position in Cherry Hill Mortgage Investment by 52.9% during the fourth quarter. Meeder Asset Management Inc. now owns 13,002 shares of the real estate investment trust’s stock worth $228,000 after purchasing an additional 4,496 shares during the last quarter. 60.57% of the stock is currently owned by institutional investors and hedge funds.
In related news, President Jeffrey B. Lown purchased 2,000 shares of the company’s stock in a transaction that occurred on Monday, December 31st. The stock was purchased at an average price of $17.42 per share, with a total value of $34,840.00. Following the completion of the transaction, the president now owns 9,350 shares of the company’s stock, valued at approximately $162,877. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.10% of the company’s stock.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, March 18th will be given a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 10.75%. The ex-dividend date of this dividend is Friday, March 15th. Cherry Hill Mortgage Investment’s dividend payout ratio (DPR) is 88.29%.
Several equities analysts recently commented on the stock. Zacks Investment Research raised shares of Cherry Hill Mortgage Investment from a “sell” rating to a “hold” rating in a research report on Tuesday. Wedbush set a $20.00 price target on shares of Cherry Hill Mortgage Investment and gave the stock a “buy” rating in a research report on Tuesday, January 22nd. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $20.00.
Cherry Hill Mortgage Investment Profile
Cherry Hill Mortgage Investment Corporation, a residential real estate finance company, acquires, invests in, and manages residential mortgage assets in the United States. The company operates through Investments in RMBS and Investments in Servicing Related Assets segments. It manages a portfolio of servicing related assets, residential mortgage-backed securities (RMBS), and prime residential mortgage loans, as well as other residential mortgage assets.
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