Cherry Hill Mortgage Investment (NYSE:CHMI) Stock Passes Below 200 Day Moving Average - Time to Sell?

Key Points

• Cherry Hill Mortgage Investment (NYSE:CHMI) shares fell below the 200-day moving average, trading at $2.63, with a low of $2.61 during recent sessions.
• The company reported a quarterly earnings per share (EPS) of $0.10, missing estimates, while revenue significantly exceeded expectations at $6.04 million.
• Cherry Hill Mortgage has cut its quarterly dividend to $0.10 per share, resulting in a 15.2% dividend yield, with a payout ratio currently at -115.38%.

Shares of Cherry Hill Mortgage Investment Corporation (NYSE:CHMI - Get Free Report) passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $2.95 and traded as low as $2.61. Cherry Hill Mortgage Investment shares last traded at $2.63, with a volume of 246,347 shares traded.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of Cherry Hill Mortgage Investment from a "hold" rating to a "buy" rating in a report on Saturday. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $4.00.

Cherry Hill Mortgage Investment Stock Performance

The firm has a market capitalization of $91.00 million, a price-to-earnings ratio of -4.86 and a beta of 0.98. The company has a 50-day moving average price of $2.81 and a 200-day moving average price of $2.93.

Cherry Hill Mortgage Investment (NYSE:CHMI - Get Free Report) last issued its earnings results on Thursday, August 7th. The real estate investment trust reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.02). The business had revenue of $6.04 million for the quarter, compared to analyst estimates of $2.19 million. Cherry Hill Mortgage Investment had a positive return on equity of 15.55% and a negative net margin of 14.28%. On average, research analysts expect that Cherry Hill Mortgage Investment Corporation will post 0.38 earnings per share for the current fiscal year.

Cherry Hill Mortgage Investment Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 15.8%. The ex-dividend date is Tuesday, September 30th. Cherry Hill Mortgage Investment's payout ratio is currently -115.38%.

Institutional Investors Weigh In On Cherry Hill Mortgage Investment

A number of institutional investors and hedge funds have recently bought and sold shares of CHMI. Corient Private Wealth LLC purchased a new position in shares of Cherry Hill Mortgage Investment during the second quarter worth about $908,000. Hudson Bay Capital Management LP acquired a new stake in shares of Cherry Hill Mortgage Investment in the 2nd quarter valued at about $374,000. Northern Trust Corp grew its stake in Cherry Hill Mortgage Investment by 30.9% during the 4th quarter. Northern Trust Corp now owns 128,350 shares of the real estate investment trust's stock worth $339,000 after buying an additional 30,330 shares during the last quarter. Jane Street Group LLC increased its position in Cherry Hill Mortgage Investment by 262.5% during the first quarter. Jane Street Group LLC now owns 93,672 shares of the real estate investment trust's stock worth $309,000 after buying an additional 67,832 shares during the period. Finally, Vident Advisory LLC lifted its stake in Cherry Hill Mortgage Investment by 58.2% in the second quarter. Vident Advisory LLC now owns 59,061 shares of the real estate investment trust's stock valued at $161,000 after buying an additional 21,731 shares during the last quarter. 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.