Cherry Hill Mortgage Investment (NYSE:CHMI) Share Price Passes Below Two Hundred Day Moving Average

Cherry Hill Mortgage Investment (NYSE:CHMI) stock fell below its 200-day moving average, trading as low as $2.27. Analysts have mixed ratings, with some downgrading the stock to 'hold' or 'neutral.' The company reported lower-than-expected earnings and cut its dividend. Institutional investors have adjusted their stakes, with some increasing their holdings significantly.

Cherry Hill Mortgage Investment Corporation (NYSE:CHMI - Get Free Report) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $2.74 and traded as low as $2.27. Cherry Hill Mortgage Investment shares last traded at $2.2850, with a volume of 255,334 shares trading hands.

Analysts Set New Price Targets

A number of research analysts have weighed in on CHMI shares. Citizens Jmp raised shares of Cherry Hill Mortgage Investment from a "market perform" rating to an "outperform" rating and set a $2.75 target price on the stock in a research note on Thursday, November 6th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Cherry Hill Mortgage Investment in a report on Wednesday, October 8th. Wall Street Zen downgraded Cherry Hill Mortgage Investment from a "buy" rating to a "hold" rating in a research report on Sunday, September 28th. Finally, Janney Montgomery Scott downgraded Cherry Hill Mortgage Investment from a "buy" rating to a "neutral" rating in a research note on Monday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $3.38.

View Our Latest Research Report on Cherry Hill Mortgage Investment

Cherry Hill Mortgage Investment Price Performance

The company has a market cap of $83.95 million, a price-to-earnings ratio of 114.25 and a beta of 0.98. The firm has a 50 day simple moving average of $2.47 and a 200-day simple moving average of $2.74.

Cherry Hill Mortgage Investment (NYSE:CHMI - Get Free Report) last released its quarterly earnings results on Thursday, November 6th. The real estate investment trust reported $0.09 earnings per share for the quarter, missing analysts' consensus estimates of $0.11 by ($0.02). The business had revenue of $8.57 million for the quarter, compared to analysts' expectations of $2.87 million. Cherry Hill Mortgage Investment had a return on equity of 16.17% and a net margin of 14.15%. Research analysts anticipate that Cherry Hill Mortgage Investment Corporation will post 0.38 EPS for the current fiscal year.

Cherry Hill Mortgage Investment Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 17.5%. The ex-dividend date of this dividend was Tuesday, September 30th. Cherry Hill Mortgage Investment's payout ratio is 2,000.00%.

Institutional Trading of Cherry Hill Mortgage Investment

Several institutional investors have recently added to or reduced their stakes in CHMI. Raymond James Financial Inc. lifted its stake in Cherry Hill Mortgage Investment by 38,518.9% during the third quarter. Raymond James Financial Inc. now owns 20,468 shares of the real estate investment trust's stock worth $49,000 after purchasing an additional 20,415 shares in the last quarter. Two Sigma Investments LP raised its holdings in shares of Cherry Hill Mortgage Investment by 92.8% in the 3rd quarter. Two Sigma Investments LP now owns 260,759 shares of the real estate investment trust's stock valued at $623,000 after buying an additional 125,499 shares during the period. JPMorgan Chase & Co. lifted its stake in Cherry Hill Mortgage Investment by 27,027.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 20,074 shares of the real estate investment trust's stock worth $48,000 after acquiring an additional 20,000 shares in the last quarter. Sheets Smith Investment Management purchased a new position in Cherry Hill Mortgage Investment during the 3rd quarter valued at about $132,000. Finally, Corient Private Wealth LLC acquired a new position in Cherry Hill Mortgage Investment in the 2nd quarter valued at about $908,000. Institutional investors and hedge funds own 18.49% of the company's stock.

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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Cherry Hill Mortgage Investment (NYSE:CHMI) Share Price Passes Below Two Hundred Day Moving Average - Here's Why