Cherry Hill Mortgage Investment (NYSE:CHMI) Stock Price Crosses Below Two Hundred Day Moving Average – Here’s Why

Cherry Hill Mortgage Investment Corporation (NYSE:CHMI)’s share price passed below its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $2.57 and traded as low as $2.51. Cherry Hill Mortgage Investment shares last traded at $2.5650, with a volume of 91,245 shares traded.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CHMI. Weiss Ratings downgraded shares of Cherry Hill Mortgage Investment from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, October 2nd. Wall Street Zen lowered shares of Cherry Hill Mortgage Investment from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 1st. B. Riley Financial cut shares of Cherry Hill Mortgage Investment from a “strong-buy” rating to a “hold” rating in a report on Monday, August 10th. Finally, Citizens Jmp downgraded shares of Cherry Hill Mortgage Investment from a “market outperform” rating to a “hold” rating in a research note on Tuesday, August 11th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Cherry Hill Mortgage Investment has an average rating of “Hold” and an average price target of $3.00.

Cherry Hill Mortgage Investment Price Performance

The stock’s 50-day moving average is $2.77 and its two-hundred day moving average is $2.57. The company has a market cap of $94.77 million, a P/E ratio of 14.25 and a beta of 1.01.

Cherry Hill Mortgage Investment (NYSE:CHMI) last posted its earnings results on Monday, August 10th. The real estate investment trust reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.02. The business had revenue of $7.88 million during the quarter, compared to the consensus estimate 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 predict that Cherry Hill Mortgage Investment Corporation will post 0.59 EPS for the current year.

Cherry Hill Mortgage Investment Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, September 30th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $0.40 annualized dividend and a dividend yield of 15.6%. Cherry Hill Mortgage Investment’s payout ratio is presently 222.22%.

Institutional Inflows and Outflows

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

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.