Cherry Hill Mortgage Investment Corporation (NYSE:CHMI – Get Free Report) saw a significant increase in short interest during the month of March. As of March 31st, there was short interest totaling 557,219 shares, an increase of 46.8% from the March 15th total of 379,657 shares. Approximately 1.5% of the company’s shares are sold short. Based on an average daily trading volume, of 330,224 shares, the days-to-cover ratio is currently 1.7 days.
Wall Street Analysts Forecast Growth
CHMI has been the subject of a number of analyst reports. Citizens Jmp raised their price target on Cherry Hill Mortgage Investment from $2.75 to $3.00 and gave the stock a “market outperform” rating in a research report on Thursday, January 22nd. Weiss Ratings restated a “sell (d)” rating on shares of Cherry Hill Mortgage Investment in a research report on Friday, March 27th. Citigroup reiterated an “outperform” rating on shares of Cherry Hill Mortgage Investment in a research report on Thursday, January 22nd. Finally, Credit Suisse Group set a $3.00 target price on Cherry Hill Mortgage Investment in a research report on Thursday, January 22nd. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $3.00.
Read Our Latest Report on CHMI
Hedge Funds Weigh In On Cherry Hill Mortgage Investment
Cherry Hill Mortgage Investment Stock Down 0.9%
Shares of CHMI stock traded down $0.03 on Thursday, hitting $2.64. The stock had a trading volume of 128,276 shares, compared to its average volume of 193,492. The business has a 50 day moving average price of $2.63 and a 200 day moving average price of $2.54. The company has a market cap of $96.81 million, a PE ratio of -20.27 and a beta of 1.01. Cherry Hill Mortgage Investment has a one year low of $2.17 and a one year high of $3.31.
Cherry Hill Mortgage Investment (NYSE:CHMI – Get Free Report) last released its quarterly earnings data on Wednesday, February 25th. The real estate investment trust reported $0.11 earnings per share for the quarter, meeting the consensus estimate of $0.11. The firm had revenue of $11.76 million during the quarter, compared to the consensus estimate of $2.45 million. Cherry Hill Mortgage Investment had a return on equity of 16.21% and a net margin of 7.28%. Equities research analysts expect that Cherry Hill Mortgage Investment will post 0.38 EPS for the current year.
Cherry Hill Mortgage Investment Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 15.2%. The ex-dividend date is Tuesday, March 31st. Cherry Hill Mortgage Investment’s payout ratio is presently -307.69%.
Cherry Hill Mortgage Investment Company Profile
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.
Further Reading
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