BlackRock Inc. Buys Shares of 475,688 Cherry Hill Mortgage Investment Corporation $CHMI

Key Points

• BlackRock acquired 475,688 shares of Cherry Hill Mortgage Investment during the second quarter, valued at approximately $1.1 million and representing about 1.29% of the company.
• Other institutional investors also increased their positions, with hedge funds and institutions collectively owning 18.49% of CHMI.
• CHMI reported quarterly EPS of $0.15, exceeding the $0.13 estimate, and maintains a $0.40 annualized dividend yielding approximately 13.5%. Analysts’ consensus rating is “Hold,” with a $3.00 price target.

BlackRock Inc. purchased a new position in Cherry Hill Mortgage Investment Corporation (NYSE:CHMI - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 475,688 shares of the real estate investment trust's stock, valued at approximately $1,104,000. BlackRock Inc. owned about 1.29% of Cherry Hill Mortgage Investment at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Summit Financial LLC grew its holdings 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 worth $2,679,000 after buying an additional 520,291 shares in the last quarter. Corient Private Wealth LLC acquired a new position in Cherry Hill Mortgage Investment during the second quarter worth about $908,000. Hudson Bay Capital Management LP acquired a new position in Cherry Hill Mortgage Investment during the second quarter worth about $374,000. Two Sigma Investments LP grew its stake in Cherry Hill Mortgage Investment by 92.8% during the 3rd quarter. Two Sigma Investments LP now owns 260,759 shares of the real estate investment trust's stock valued at $623,000 after acquiring an additional 125,499 shares in the last quarter. Finally, Jane Street Group LLC grew its stake in 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 in the last quarter. 18.49% of the stock is currently owned by hedge funds and other institutional investors.

Cherry Hill Mortgage Investment Price Performance

NYSE CHMI opened at $2.97 on Monday. The company has a market cap of $109.74 million, a P/E ratio of 16.50 and a beta of 0.97. The stock has a 50-day moving average of $2.56 and a two-hundred day moving average of $2.55. Cherry Hill Mortgage Investment Corporation has a 1-year low of $2.17 and a 1-year high of $3.04.

Cherry Hill Mortgage Investment (NYSE:CHMI - Get Free Report) last issued its quarterly earnings results on Monday, August 10th. The real estate investment trust reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.02. The business had revenue of $7.88 million for the quarter, compared to analysts' expectations of $10.75 million. Cherry Hill Mortgage Investment had a net margin of 26.43% and a return on equity of 21.74%. On average, analysts anticipate that Cherry Hill Mortgage Investment Corporation will post 0.59 EPS for the current fiscal year.

Cherry Hill Mortgage Investment Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Tuesday, June 30th were issued a $0.10 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $0.40 dividend on an annualized basis and a yield of 13.5%. Cherry Hill Mortgage Investment's dividend payout ratio (DPR) is 222.22%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Citizens Jmp lowered shares of Cherry Hill Mortgage Investment from a "market outperform" rating to a "hold" rating in a research note on Tuesday, August 11th. Weiss Ratings upgraded shares of Cherry Hill Mortgage Investment from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday. Wall Street Zen downgraded Cherry Hill Mortgage Investment from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 1st. Finally, B. Riley Financial lowered shares of Cherry Hill Mortgage Investment from a "strong-buy" rating to a "hold" rating in a report on Monday, August 10th. One analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Cherry Hill Mortgage Investment has an average rating of "Hold" and a consensus price target of $3.00.

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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