Short Interest in Cherry Hill Mortgage Investment Corporation (NYSE:CHMI) Drops By 12.7%

Cherry Hill Mortgage Investment Corporation (NYSE:CHMI) was the target of a significant decrease in short interest during the month of January. As of January 15th, there was short interest totaling 383,743 shares, a decrease of 12.7% from the December 31st total of 439,715 shares. Based on an average daily volume of 166,958 shares, the days-to-cover ratio is currently 2.3 days. Approximately 1.1% of the company’s stock are short sold. Approximately 1.1% of the company’s stock are short sold. Based on an average daily volume of 166,958 shares, the days-to-cover ratio is currently 2.3 days.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Citigroup reissued an “outperform” rating on shares of Cherry Hill Mortgage Investment in a report on Thursday, January 22nd. Janney Montgomery Scott downgraded shares of Cherry Hill Mortgage Investment from a “buy” rating to a “neutral” rating in a research note on Monday, October 13th. Credit Suisse Group set a $3.00 price objective on shares of Cherry Hill Mortgage Investment in a report on Thursday, January 22nd. Citizens Jmp raised their price objective on Cherry Hill Mortgage Investment from $2.75 to $3.00 and gave the stock a “market outperform” rating in a research note on Thursday, January 22nd. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Cherry Hill Mortgage Investment in a report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Cherry Hill Mortgage Investment presently has an average rating of “Hold” and a consensus price target of $3.00.

Cherry Hill Mortgage Investment Stock Performance

Shares of Cherry Hill Mortgage Investment stock opened at $2.66 on Tuesday. Cherry Hill Mortgage Investment has a 52 week low of $2.17 and a 52 week high of $3.68. The stock has a market capitalization of $97.88 million, a PE ratio of 133.20 and a beta of 1.04. The stock has a 50 day moving average price of $2.60 and a two-hundred day moving average price of $2.60.

Cherry Hill Mortgage Investment (NYSE:CHMI) last posted its quarterly earnings data on Thursday, November 6th. The real estate investment trust reported $0.09 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.02). The firm had revenue of $8.57 million during the quarter, compared to analysts’ expectations of $2.87 million. Cherry Hill Mortgage Investment had a net margin of 14.15% and a return on equity of 16.17%. Research analysts forecast that Cherry Hill Mortgage Investment will post 0.38 EPS for the current year.

Cherry Hill Mortgage Investment Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Wednesday, December 31st were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 15.0%. The ex-dividend date of this dividend was Wednesday, December 31st. Cherry Hill Mortgage Investment’s dividend payout ratio is presently 2,000.00%.

Hedge Funds Weigh In On Cherry Hill Mortgage Investment

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. PVG Asset Management Corp boosted its holdings in shares of Cherry Hill Mortgage Investment by 11.5% in the 3rd quarter. PVG Asset Management Corp now owns 55,180 shares of the real estate investment trust’s stock worth $132,000 after purchasing an additional 5,670 shares in the last quarter. Naviter Wealth LLC purchased a new position in Cherry Hill Mortgage Investment during the fourth quarter valued at $29,000. Glenview Trust co purchased a new stake in Cherry Hill Mortgage Investment in the second quarter worth about $34,000. Envestnet Asset Management Inc. bought a new position in Cherry Hill Mortgage Investment during the 2nd quarter valued at approximately $45,000. Finally, JPMorgan Chase & Co. boosted its stake in Cherry Hill Mortgage Investment by 27,027.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 20,074 shares of the real estate investment trust’s stock worth $48,000 after purchasing an additional 20,000 shares in the last quarter. 18.49% of the stock is currently owned by hedge funds and other institutional investors.

About Cherry Hill Mortgage Investment

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.