Cherry Hill Mortgage Investment (NYSE:CHMI) Stock Passes Below 200 Day Moving Average After Earnings Miss

Key Points

• Cherry Hill Mortgage Investment Corporation (NYSE:CHMI) stock has fallen below its 200-day moving average of $3.06 following a miss in quarterly earnings, reporting $0.10 EPS against the expected $0.13.
• The company recently declared a quarterly dividend of $0.15 per share, resulting in an annualized dividend of $0.60, which reflects a high dividend yield of 21.4%, despite a negative dividend payout ratio of -109.09%.
• Institutional investors have increased their holdings in Cherry Hill, with ownership now at 18.49% of shares, highlighting growing interest from hedge funds and other investment firms.

Cherry Hill Mortgage Investment Corporation (NYSE:CHMI - Get Free Report) passed below its 200-day moving average during trading on Thursday after the company announced weaker than expected quarterly earnings. The stock has a 200-day moving average of $3.06 and traded as low as $2.78. Cherry Hill Mortgage Investment shares last traded at $2.81, with a volume of 203,752 shares.

The real estate investment trust reported $0.10 EPS for the quarter, missing analysts' consensus estimates of $0.13 by ($0.03). Cherry Hill Mortgage Investment had a positive return on equity of 14.65% and a negative net margin of 11.62%.

Cherry Hill Mortgage Investment Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, June 30th were given a dividend of $0.15 per share. The ex-dividend date was Monday, June 30th. This represents a $0.60 annualized dividend and a dividend yield of 21.4%. Cherry Hill Mortgage Investment's dividend payout ratio (DPR) is presently -109.09%.

Hedge Funds Weigh In On Cherry Hill Mortgage Investment

A number of hedge funds and other institutional investors have recently modified their holdings of CHMI. Envestnet Asset Management Inc. purchased a new position in Cherry Hill Mortgage Investment during the 2nd quarter valued at approximately $45,000. Ritholtz Wealth Management purchased a new stake in shares of Cherry Hill Mortgage Investment during the 2nd quarter worth approximately $66,000. Jane Street Group LLC boosted 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 acquiring an additional 67,832 shares during the last quarter. Vident Advisory LLC purchased a new position in shares of Cherry Hill Mortgage Investment in the first quarter valued at $123,000. Finally, Wealth Preservation Advisors LLC purchased a new position in shares of Cherry Hill Mortgage Investment in the first quarter valued at $33,000. Institutional investors own 18.49% of the company's stock.

Cherry Hill Mortgage Investment Price Performance

The company has a market cap of $91.77 million, a P/E ratio of -5.11 and a beta of 0.97. The firm's 50-day moving average is $2.83 and its two-hundred day moving average is $3.06.

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.

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