Cherry Hill Mortgage Investment Corporation (NYSE:CHMI) Short Interest Update

Cherry Hill Mortgage Investment Corporation (NYSE:CHMI) was the target of a large increase in short interest in the month of June. As of June 30th, there was short interest totaling 536,221 shares, an increase of 109.1% from the June 15th total of 256,486 shares. Based on an average daily volume of 270,118 shares, the days-to-cover ratio is currently 2.0 days. Currently, 1.5% of the shares of the stock are sold short.

Analyst Ratings Changes

Several analysts recently commented on the stock. Wall Street Zen upgraded shares of Cherry Hill Mortgage Investment from a “buy” rating to a “strong-buy” rating in a research note on Sunday, June 28th. Weiss Ratings restated a “sell (d)” rating on shares of Cherry Hill Mortgage Investment in a research report on Wednesday, June 24th. Two equities 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 stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $3.00.

Cherry Hill Mortgage Investment Stock Performance

CHMI stock traded up $0.04 during midday trading on Thursday, hitting $2.35. 93,076 shares of the stock were exchanged, compared to its average volume of 200,814. The stock’s 50-day moving average price is $2.39 and its 200-day moving average price is $2.55. The stock has a market cap of $86.52 million, a price-to-earnings ratio of 21.41 and a beta of 0.92. Cherry Hill Mortgage Investment has a fifty-two week low of $2.17 and a fifty-two week high of $3.04.

Cherry Hill Mortgage Investment (NYSE:CHMI) last posted its earnings results on Thursday, May 7th. The real estate investment trust reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. Cherry Hill Mortgage Investment had a return on equity of 17.95% and a net margin of 18.88%.The company had revenue of $4.64 million for the quarter, compared to the consensus estimate of $10.30 million. Research analysts anticipate that Cherry Hill Mortgage Investment will post 0.57 EPS for the current year.

Cherry Hill Mortgage Investment Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be given a $0.10 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $0.40 annualized dividend and a dividend yield of 17.0%. Cherry Hill Mortgage Investment’s payout ratio is currently 363.64%.

Hedge Funds Weigh In On Cherry Hill Mortgage Investment

Several hedge funds have recently added to or reduced their stakes in the business. XTX Topco Ltd acquired a new position in Cherry Hill Mortgage Investment during the fourth quarter worth about $27,000. Naviter Wealth LLC purchased a new position in shares of Cherry Hill Mortgage Investment during the 4th quarter worth approximately $29,000. Glenview Trust co purchased a new position in shares of Cherry Hill Mortgage Investment during the 2nd quarter worth approximately $34,000. Envestnet Asset Management Inc. acquired a new position in shares of Cherry Hill Mortgage Investment during the 2nd quarter worth approximately $45,000. Finally, JPMorgan Chase & Co. raised its position in shares of 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 purchasing an additional 20,000 shares during the last quarter. 18.49% of the stock is currently owned by hedge funds and other institutional investors.

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.