Cherry Hill Mortgage Investment Co. (NYSE:CHMI - Get Free Report) saw a significant growth in short interest in March. As of March 31st, there was short interest totalling 672,700 shares, a growth of 98.4% from the March 15th total of 339,100 shares. Approximately 2.2% of the company's stock are short sold. Based on an average daily volume of 342,000 shares, the short-interest ratio is currently 2.0 days.
Cherry Hill Mortgage Investment Trading Down 3.3 %
CHMI stock traded down $0.09 during midday trading on Monday, hitting $2.63. The stock had a trading volume of 171,575 shares, compared to its average volume of 258,181. The stock has a 50-day simple moving average of $3.29 and a 200 day simple moving average of $3.09. The firm has a market capitalization of $83.17 million, a price-to-earnings ratio of -1.73 and a beta of 1.05. Cherry Hill Mortgage Investment has a 52 week low of $2.34 and a 52 week high of $3.99.
Cherry Hill Mortgage Investment (NYSE:CHMI - Get Free Report) last posted its quarterly earnings results on Thursday, March 6th. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.10. The firm had revenue of $0.66 million during the quarter, compared to analyst estimates of $1.50 million. Cherry Hill Mortgage Investment had a negative net margin of 60.97% and a positive return on equity of 15.18%. On average, equities analysts forecast that Cherry Hill Mortgage Investment will post 0.38 EPS for the current year.
Cherry Hill Mortgage Investment Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.15 per share. The ex-dividend date is Monday, March 31st. This represents a $0.60 annualized dividend and a yield of 22.81%. Cherry Hill Mortgage Investment's dividend payout ratio is currently 1,000.00%.
Insider Activity
In other news, Director Sharon L. Cook sold 13,000 shares of the stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $3.64, for a total transaction of $47,320.00. Following the transaction, the director now owns 19,513 shares in the company, valued at $71,027.32. This represents a 39.98 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.40% of the company's stock.
Institutional Investors Weigh In On Cherry Hill Mortgage Investment
Several institutional investors and hedge funds have recently made changes to their positions in the company. Jane Street Group LLC bought a new position in Cherry Hill Mortgage Investment during the 4th quarter valued at about $68,000. Northern Trust Corp raised its stake in shares of Cherry Hill Mortgage Investment by 30.9% in the fourth quarter. Northern Trust Corp now owns 128,350 shares of the real estate investment trust's stock valued at $339,000 after acquiring an additional 30,330 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of Cherry Hill Mortgage Investment in the 4th quarter worth approximately $130,000. Corient Private Wealth LLC increased its holdings in Cherry Hill Mortgage Investment by 24.4% during the 4th quarter. Corient Private Wealth LLC now owns 619,121 shares of the real estate investment trust's stock valued at $1,634,000 after purchasing an additional 121,447 shares in the last quarter. Finally, Wolverine Asset Management LLC raised its position in Cherry Hill Mortgage Investment by 83.0% in the 4th quarter. Wolverine Asset Management LLC now owns 335,153 shares of the real estate investment trust's stock valued at $885,000 after purchasing an additional 151,989 shares during the last quarter. Institutional investors and hedge funds own 18.49% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts have issued reports on the company. JMP Securities reaffirmed a "market perform" rating on shares of Cherry Hill Mortgage Investment in a research report on Thursday, January 23rd. StockNews.com upgraded Cherry Hill Mortgage Investment from a "sell" rating to a "hold" rating in a report on Friday, March 7th. Janney Montgomery Scott started coverage on shares of Cherry Hill Mortgage Investment in a research note on Thursday, January 2nd. They set a "buy" rating and a $4.00 target price for the company. Finally, B. Riley upgraded shares of Cherry Hill Mortgage Investment to a "strong-buy" rating in a research report on Tuesday, January 7th.
Get Our Latest Research Report on Cherry Hill Mortgage Investment
Cherry Hill Mortgage Investment Company Profile
(
Get Free Report)
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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