Cherry Hill Mortgage Investment (NYSE:CHMI) Shares Cross Below 200-Day Moving Average – Time to Sell?

Shares of Cherry Hill Mortgage Investment Corporation (NYSE:CHMI) passed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $2.59 and traded as low as $2.57. Cherry Hill Mortgage Investment shares last traded at $2.5850, with a volume of 105,009 shares changing hands.

Analyst Ratings Changes

Several brokerages have recently issued reports on CHMI. Wall Street Zen lowered Cherry Hill Mortgage Investment from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 1st. Weiss Ratings downgraded Cherry Hill Mortgage Investment from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, October 2nd. Citizens Jmp lowered Cherry Hill Mortgage Investment from a “market outperform” rating to a “hold” rating in a research note on Tuesday, August 11th. Finally, B. Riley Financial lowered Cherry Hill Mortgage Investment from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 10th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Cherry Hill Mortgage Investment presently has a consensus rating of “Hold” and an average price target of $3.00.

Cherry Hill Mortgage Investment Stock Down 1.7%

The company has a market cap of $95.52 million, a P/E ratio of 129.31 and a beta of 1.02. The firm’s 50 day moving average is $2.72 and its two-hundred day moving average is $2.59.

Cherry Hill Mortgage Investment (NYSE:CHMI) last announced its earnings results on Thursday, October 29th. The real estate investment trust reported $0.14 EPS for the quarter, hitting the consensus estimate of $0.14. Cherry Hill Mortgage Investment had a return on equity of 24.21% and a net margin of 17.18%. The firm had revenue of $6.56 million for the quarter, compared to the consensus estimate of $11.20 million. As a group, research analysts forecast that Cherry Hill Mortgage Investment Corporation will post 0.59 EPS for the current fiscal year.

Cherry Hill Mortgage Investment Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 30th. Shareholders of record on Wednesday, September 30th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 15.5%. The ex-dividend date was Wednesday, September 30th. Cherry Hill Mortgage Investment’s dividend payout ratio (DPR) is presently 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. Glenview Trust Co acquired a new position in shares of Cherry Hill Mortgage Investment in the 2nd quarter valued at about $29,000. Gables Capital Management Inc. acquired a new stake in Cherry Hill Mortgage Investment during the second quarter worth approximately $46,000. Money Concepts Capital Corp acquired a new stake in Cherry Hill Mortgage Investment during the first quarter worth approximately $68,000. Corient Private Wealth LP acquired a new stake in Cherry Hill Mortgage Investment during the second quarter worth approximately $397,000. Finally, BlackRock Inc. acquired a new stake in Cherry Hill Mortgage Investment during the second quarter worth approximately $1,104,000. 18.49% of the stock is owned by institutional investors and hedge funds.

Cherry Hill Mortgage Investment Company Profile

Cherry Hill Mortgage Investment Corporation (NYSE: CHMI) is a real estate investment trust focused on residential mortgage assets. The company seeks to generate income primarily by investing in and managing mortgage-related investments rather than originating conventional consumer loans.

Its investment portfolio has included agency residential mortgage-backed securities, non-agency residential mortgage-backed securities, mortgage servicing rights and other assets associated with the U.S.