Cherry Hill Mortgage Investment (NYSE:CHMI) Stock Price Passes Below Two Hundred Day Moving Average - What's Next?

Key Points

• CHMI fell below its 200-day moving average during Wednesday’s trading, with shares dipping as low as $2.32 versus a 200-day average of $2.54. The stock last traded at $2.3350 on volume of 120,570 shares.
• Analyst sentiment is mixed, with Wall Street Zen upgrading CHMI to strong-buy while Weiss Ratings reiterated a sell rating. Overall, MarketBeat shows a consensus rating of Hold and an average price target of $3.00.
• The company declared a quarterly dividend of $0.10 per share, payable July 31, implying an annualized yield of about 17.1%. CHMI recently beat EPS expectations in its latest quarterly report, though revenue came in below estimates.

Shares of Cherry Hill Mortgage Investment Corporation (NYSE:CHMI - Get Free Report) passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $2.54 and traded as low as $2.32. Cherry Hill Mortgage Investment shares last traded at $2.3350, with a volume of 120,570 shares changing hands.

Analyst Upgrades and Downgrades

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

Cherry Hill Mortgage Investment Price Performance

The company has a market cap of $85.79 million, a price-to-earnings ratio of 21.23 and a beta of 0.92. The firm has a 50-day moving average price of $2.37 and a 200 day moving average price of $2.54.

Cherry Hill Mortgage Investment (NYSE:CHMI - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The real estate investment trust reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.02. The business 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%. On average, equities analysts anticipate that Cherry Hill Mortgage Investment Corporation will post 0.57 EPS for the current fiscal year.

Cherry Hill Mortgage Investment Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 17.1%. The ex-dividend date is Tuesday, June 30th. Cherry Hill Mortgage Investment's payout ratio is presently 363.64%.

Hedge Funds Weigh In On Cherry Hill Mortgage Investment

Hedge funds have recently bought and sold shares of the company. Money Concepts Capital Corp acquired a new position in Cherry Hill Mortgage Investment during the first quarter valued at approximately $68,000. XTX Topco Ltd acquired a new position in Cherry Hill Mortgage Investment in the 4th quarter worth about $27,000. Cetera Investment Advisers raised its position in Cherry Hill Mortgage Investment by 50.9% in the fourth quarter. Cetera Investment Advisers now owns 37,054 shares of the real estate investment trust's stock valued at $94,000 after purchasing an additional 12,504 shares during the last quarter. State Street Corp raised its position in Cherry Hill Mortgage Investment by 11.3% in the fourth quarter. State Street Corp now owns 150,191 shares of the real estate investment trust's stock valued at $398,000 after purchasing an additional 15,300 shares during the last quarter. Finally, Summit Financial LLC boosted 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 purchasing an additional 520,291 shares in the last quarter. 18.49% of the stock is owned by institutional investors.

About Cherry Hill Mortgage Investment

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.

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