Analysts set new price targets
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CHMI has been the subject of several investigative reports. B. Riley lowered the price target on Cherry Hill Mortgage Investment shares to $7.00 from $8.00 and set a “buy” rating on the company in a research note Tuesday, October 25. StockNews.com assumed coverage of Cherry Hill Mortgage Investment shares in a research note on Wednesday, October 12. They set a “hold” rating for the company.
Cherry Hill mortgage investment trading fell 0.3%
NYSE: CHMI opened at $6.44 on Thursday. Cherry Hill Mortgage Investment has a 1-year minimum of $4.58 and a 1-year maximum of $8.37. The company has a fifty-day simple moving average of $5.98 and a 200-day simple moving average of $6.09. The stock has a market capitalization of $135.17 million, a PE ratio of 2.47, and a beta of 1.18.
Cherry Hill Mortgage Investment Announces Dividends
The company also recently announced a quarterly dividend, to be paid on Tuesday, January 31. Investors registered on Friday, December 30 will receive a dividend of $0.27. The ex-dividend date of this dividend is Thursday, December 29. This represents an annualized dividend of $1.08 and a dividend yield of 16.77%. Cherry Hill Mortgage Investment’s dividend payout ratio is currently 41.38%.
Hedge funds weigh in on Cherry Hill mortgage investment
Several hedge funds and other institutional investors have recently made changes to their positions in CHMI. Ritholtz Wealth Management increased its position in Cherry Hill Mortgage Investment by 14.5% during the third quarter. Ritholtz Wealth Management now owns 23,291 shares of the real estate investment trust worth $114,000 after purchasing an additional 2,957 shares during the period. State Street Corp increased its holdings in Cherry Hill Mortgage Investment shares by 6.5% during the first quarter. State Street Corp now owns 51,982 shares of the real estate investment trust worth $414,000 after purchasing an additional 3,172 shares in the last quarter. Royal Bank of Canada increased its holdings in shares of Cherry Hill Mortgage Investment by 16.3% during the third quarter. Royal Bank of Canada now owns 26,262 shares of the real estate investment trust worth $129,000 after purchasing an additional 3,688 shares in the last quarter. O Shaughnessy Asset Management LLC increased its stake in Cherry Hill Mortgage Investment shares by 10.0% during the second quarter. O Shaughnessy Asset Management LLC now owns 50,392 shares of the real estate investment trust worth $323,000 after purchasing an additional 4,593 shares in the last quarter. Finally, Penserra Capital Management LLC increased its stake in Cherry Hill Mortgage Investment shares by 10.8% during the third quarter. Penserra Capital Management LLC now owns 47,419 shares of the real estate investment trust worth $232,000 after purchasing an additional 4,640 shares in the last quarter. 16.87% of the shares are owned by institutional investors.
About Cherry Hill Home Investment
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Cherry Hill Mortgage Investment Corp. is a real estate finance company that acquires, invests and manages a portfolio of excess mortgage servicing rights. The company operates through the following segments: RMBS Investments, Maintenance Related Asset Investments, and all other segments. It also invests in agency residential mortgage-backed securities, prime jumbo mortgage loans and other residential mortgage assets.
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