Short Interest in Cherry Hill Mortgage Investment Corporation (NYSE:CHMI) Declines By 38.9%

Cherry Hill Mortgage Investment Corporation (NYSE:CHMI) was the recipient of a significant decline in short interest during the month of July. As of July 15th, there was short interest totaling 327,735 shares, a decline of 38.9% from the June 30th total of 536,221 shares. Currently, 0.9% of the shares of the stock are sold short. Based on an average trading volume of 162,765 shares, the short-interest ratio is currently 2.0 days.

Cherry Hill Mortgage Investment Stock Performance

Shares of CHMI stock traded up $0.01 on Friday, hitting $2.27. 353,149 shares of the stock traded hands, compared to its average volume of 194,143. Cherry Hill Mortgage Investment has a twelve month low of $2.17 and a twelve month high of $3.04. The firm’s 50-day moving average price is $2.35 and its two-hundred day moving average price is $2.53. The stock has a market capitalization of $83.22 million, a PE ratio of 20.59 and a beta of 0.92.

Cherry Hill Mortgage Investment (NYSE:CHMI) last released its quarterly earnings data on Thursday, May 7th. The real estate investment trust reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.02. Cherry Hill Mortgage Investment had a net margin of 18.88% and a return on equity of 17.95%. The firm had revenue of $4.64 million during the quarter, compared to analysts’ expectations of $10.30 million. On average, equities research analysts anticipate that Cherry Hill Mortgage Investment will post 0.57 EPS for the current fiscal year.

Cherry Hill Mortgage Investment Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.40 annualized dividend and a dividend yield of 17.7%. Cherry Hill Mortgage Investment’s dividend payout ratio is 363.64%.

Institutional Trading of Cherry Hill Mortgage Investment

Institutional investors have recently made changes to their positions in the company. O Shaughnessy Asset Management LLC increased its position in shares of Cherry Hill Mortgage Investment by 34.3% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 25,546 shares of the real estate investment trust’s stock valued at $65,000 after acquiring an additional 6,525 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of Cherry Hill Mortgage Investment in the 4th quarter worth approximately $27,000. Naviter Wealth LLC acquired a new position in shares of Cherry Hill Mortgage Investment in the 4th quarter worth approximately $29,000. Glenview Trust co acquired a new position in shares of Cherry Hill Mortgage Investment in the 2nd quarter worth approximately $34,000. Finally, Cetera Investment Advisers boosted its position in shares of Cherry Hill Mortgage Investment by 50.9% during the 4th quarter. Cetera Investment Advisers now owns 37,054 shares of the real estate investment trust’s stock worth $94,000 after purchasing an additional 12,504 shares during the period. Hedge funds and other institutional investors own 18.49% of the company’s stock.

Wall Street Analyst Weigh In

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

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.