Sharon Cook Sells 7,427 Shares of Cherry Hill Mortgage Investment (NYSE:CHMI) Stock

Cherry Hill Mortgage Investment Corporation (NYSE:CHMI) Director Sharon Cook sold 7,427 shares of the business’s stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $2.49, for a total value of $18,493.23. Following the completion of the sale, the director owned 48,716 shares of the company’s stock, valued at $121,302.84. The trade was a 13.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Cherry Hill Mortgage Investment Stock Up 2.4%

Shares of Cherry Hill Mortgage Investment stock traded up $0.06 on Thursday, hitting $2.57. The stock had a trading volume of 385,437 shares, compared to its average volume of 298,567. Cherry Hill Mortgage Investment Corporation has a one year low of $2.17 and a one year high of $3.68. The stock’s 50-day simple moving average is $2.38 and its two-hundred day simple moving average is $2.67. The stock has a market cap of $94.46 million, a price-to-earnings ratio of 128.55 and a beta of 1.06.

Cherry Hill Mortgage Investment (NYSE:CHMI) last announced its quarterly earnings results on Thursday, November 6th. The real estate investment trust reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.02). The firm had revenue of $8.57 million for 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%. As a group, equities analysts predict that Cherry Hill Mortgage Investment Corporation will post 0.38 EPS for the current fiscal year.

Cherry Hill Mortgage Investment Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 15.6%. The ex-dividend date was Tuesday, September 30th. Cherry Hill Mortgage Investment’s dividend payout ratio is currently 2,000.00%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CHMI. Wealth Preservation Advisors LLC bought a new position in shares of Cherry Hill Mortgage Investment in the 1st quarter worth approximately $33,000. Banco BTG Pactual S.A. purchased a new stake in Cherry Hill Mortgage Investment in the first quarter worth $36,000. Glenview Trust co bought a new position in Cherry Hill Mortgage Investment in the second quarter worth $34,000. Envestnet Asset Management Inc. bought a new position in Cherry Hill Mortgage Investment in the second quarter worth $45,000. Finally, JPMorgan Chase & Co. lifted its position in Cherry Hill Mortgage Investment by 27,027.0% during the third quarter. JPMorgan Chase & Co. now owns 20,074 shares of the real estate investment trust’s stock valued at $48,000 after buying an additional 20,000 shares during the period. Hedge funds and other institutional investors own 18.49% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CHMI. Janney Montgomery Scott downgraded Cherry Hill Mortgage Investment from a “buy” rating to a “neutral” rating in a report on Monday, October 13th. Weiss Ratings reiterated a “sell (d)” rating on shares of Cherry Hill Mortgage Investment in a research report on Monday. Wall Street Zen downgraded Cherry Hill Mortgage Investment from a “buy” rating to a “hold” rating in a report on Sunday, September 28th. Finally, Citizens Jmp raised Cherry Hill Mortgage Investment from a “market perform” rating to an “outperform” rating and set a $2.75 price target for the company in a research note on Thursday, November 6th. One 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, Cherry Hill Mortgage Investment has a consensus rating of “Hold” and an average price target of $3.38.

About Cherry Hill Mortgage Investment

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.