Gables Capital Management Inc. increased its holdings in Cherry Hill Mortgage Investment Corp (NYSE:CHMI) by 4.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 101,625 shares of the real estate investment trust’s stock after acquiring an additional 4,600 shares during the quarter. Cherry Hill Mortgage Investment comprises approximately 1.5% of Gables Capital Management Inc.’s portfolio, making the stock its 19th biggest position. Gables Capital Management Inc. owned 0.66% of Cherry Hill Mortgage Investment worth $1,819,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. BlackRock Inc. raised its holdings in Cherry Hill Mortgage Investment by 24.6% in the second quarter. BlackRock Inc. now owns 1,095,063 shares of the real estate investment trust’s stock worth $19,558,000 after purchasing an additional 216,365 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in Cherry Hill Mortgage Investment in the second quarter worth $2,721,000. Prudential Financial Inc. raised its holdings in Cherry Hill Mortgage Investment by 62.8% in the first quarter. Prudential Financial Inc. now owns 260,162 shares of the real estate investment trust’s stock worth $4,564,000 after purchasing an additional 100,400 shares in the last quarter. Mackay Shields LLC bought a new position in Cherry Hill Mortgage Investment in the first quarter worth $1,559,000. Finally, JPMorgan Chase & Co. raised its holdings in Cherry Hill Mortgage Investment by 22.9% in the first quarter. JPMorgan Chase & Co. now owns 360,897 shares of the real estate investment trust’s stock worth $6,331,000 after purchasing an additional 67,350 shares in the last quarter. 56.20% of the stock is owned by institutional investors.
Shares of NYSE:CHMI opened at $18.39 on Monday. Cherry Hill Mortgage Investment Corp has a 1-year low of $16.01 and a 1-year high of $19.20. The firm has a market cap of $290.90 million, a PE ratio of 8.28 and a beta of 0.23.
The business also recently declared a quarterly dividend, which was paid on Tuesday, July 31st. Stockholders of record on Friday, June 29th were issued a dividend of $0.49 per share. The ex-dividend date of this dividend was Thursday, June 28th. This represents a $1.96 annualized dividend and a dividend yield of 10.66%. Cherry Hill Mortgage Investment’s payout ratio is presently 88.29%.
A number of equities analysts have issued reports on CHMI shares. Zacks Investment Research upgraded Cherry Hill Mortgage Investment from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a report on Wednesday, May 23rd. B. Riley set a $20.00 price target on Cherry Hill Mortgage Investment and gave the company a “buy” rating in a report on Thursday, May 10th. Wedbush upgraded Cherry Hill Mortgage Investment from a “neutral” rating to an “outperform” rating in a report on Monday, June 18th. Finally, ValuEngine downgraded Cherry Hill Mortgage Investment from a “buy” rating to a “hold” rating in a report on Wednesday, May 2nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $19.83.
Cherry Hill Mortgage Investment Company Profile
Cherry Hill Mortgage Investment Corporation, a residential real estate finance company, acquires, invests in, and manages residential mortgage assets in the United States. The company operates through Investments in RMBS and Investments in Servicing Related Assets segments. It manages a portfolio of servicing related assets, residential mortgage-backed securities (RMBS), and prime residential mortgage loans, as well as other residential mortgage assets.
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