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

Key Points

• Shares slipped below the 200-day moving average, trading as low as $2.57 versus the $2.59 average and last quoted at $2.585.
• Analyst opinions have weakened, with one Buy, two Hold, and one Sell rating; the consensus is Hold with a $3.00 price target.
• Quarterly EPS of $0.14 matched estimates, but revenue of $6.56 million fell short of the $11.20 million forecast. The company paid a $0.10 quarterly dividend, equivalent to a stated 15.5% yield.

Cherry Hill Mortgage Investment Corporation (NYSE:CHMI - Get Free Report)'s share price crossed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $2.59 and traded as low as $2.57. Cherry Hill Mortgage Investment shares last traded at $2.5850, with a volume of 105,009 shares trading hands.

Analyst Ratings Changes

A number of research firms recently commented on CHMI. Wall Street Zen lowered shares of Cherry Hill Mortgage Investment from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 1st. Citizens Jmp cut 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 downgraded shares of Cherry Hill Mortgage Investment from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday, October 2nd. Finally, B. Riley Financial lowered shares of Cherry Hill Mortgage Investment from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 10th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $3.00.

Cherry Hill Mortgage Investment Stock Performance

The stock has a market capitalization of $95.52 million, a price-to-earnings ratio of 129.31 and a beta of 1.02. The company has a fifty day simple moving average of $2.72 and a two-hundred day simple moving average of $2.59.

Cherry Hill Mortgage Investment (NYSE:CHMI - Get Free Report) last released its earnings results on Thursday, October 29th. The real estate investment trust reported $0.14 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.14. Cherry Hill Mortgage Investment had a return on equity of 24.21% and a net margin of 17.18%. The company had revenue of $6.56 million for the quarter, compared to analyst estimates of $11.20 million. As a group, equities analysts anticipate that Cherry Hill Mortgage Investment Corporation will post 0.59 earnings per share for the current year.

Cherry Hill Mortgage Investment Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 30th. Investors of record on Wednesday, September 30th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $0.40 annualized dividend and a yield of 15.5%. Cherry Hill Mortgage Investment's dividend payout ratio is currently 2,000.00%.

Institutional Investors Weigh In On Cherry Hill Mortgage Investment

A number of large investors have recently bought and sold shares of CHMI. Glenview Trust Co bought a new position in Cherry Hill Mortgage Investment in the 2nd quarter valued at about $29,000. Gables Capital Management Inc. bought a new stake in shares of Cherry Hill Mortgage Investment during the 2nd quarter worth approximately $46,000. Money Concepts Capital Corp acquired a new stake in shares of Cherry Hill Mortgage Investment during the 1st quarter worth approximately $68,000. Corient Private Wealth LP bought a new position in Cherry Hill Mortgage Investment in the second quarter valued at approximately $397,000. Finally, BlackRock Inc. bought a new position in Cherry Hill Mortgage Investment in the second quarter valued at approximately $1,104,000. 18.49% of the stock is currently owned by institutional investors and hedge funds.

About Cherry Hill Mortgage Investment

Cherry Hill Mortgage Investment Corporation NYSE: CHMI is a real estate investment trust focused on residential mortgage assets. The company seeks to generate income primarily by investing in and managing mortgage-related investments rather than originating conventional consumer loans.

Its investment portfolio has included agency residential mortgage-backed securities, non-agency residential mortgage-backed securities, mortgage servicing rights and other assets associated with the U.S.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.