Cherry Hill Mortgage Investment Co. (NYSE:CHMI – Get Rating)’s December short sales surged. As of Dec. 30, there were a total of 1.99 million shares shorted, up 60.5% from the Dec. 15 total of 1.24 million shares. Based on an average trading volume of 283,600 shares, the days coverage ratio is currently 7.0 days.
Analyst sets new price target
→ New US – Russian Cold War (From investment trends)
CHMI has been the subject of several research reports. B. Riley lowered his price target on Cherry Hill Mortgage Investment shares from his $8.00 to his $7.00 and set a “buy” rating for the company in a research note on Tuesday, Oct. 25. StockNews.com featured shares in Cherry Hill Mortgage Investment in its research notes on Wednesday, October 12th. They set a “pending” rating on the company.
Cherry Hill Mortgage Investment Trading down 0.3%
NYSE:CHMI opened at $6.44 on Thursday. His one-year low is $4.58 and his one-year high is $8.37 for Cherry Hill Mortgage Investment. The company has a 50-day simple moving average of $5.98 and a 200-day simple moving average of $6.09. The stock has a market cap of $135.17 million, a PE ratio of 2.47 and a beta of 1.18.
Cherry Hill Mortgage Investment Announces Dividend
The company recently announced a quarterly dividend payable on Tuesday, January 31st. Investors of record on Friday, December 30th will be paid a dividend of $0.27. The ex-dividend date for this dividend is Thursday, December 29. This represents his $1.08 dividend and a 16.77% dividend yield on an annualized basis. Cherry Hill Mortgage Investment currently has a payout ratio of 41.38%.
Hedge Fund Helps Cherry Hill’s Mortgage Investment
Several hedge funds and other institutional investors have recently changed their positions in CHMI. Ritholtz Wealth Management boosted his position at Cherry Hill Mortgage Investment by 14.5% during the third quarter. Ritholtz Wealth Management now owns 23,291 real estate investment trust shares worth $114,000 after purchasing an additional 2,957 of his shares during this period. State Street Corp increased its stake in Cherry Hill Mortgage Investment by 6.5% in the first quarter. State Street Corp now owns 51,982 real estate investment trust shares worth $414,000 after purchasing an additional 3,172 shares last quarter. Royal Bank of Canada increased his stake in Cherry Hill Mortgage Investments by 16.3% in the third quarter. Royal Bank of Canada owns 26,262 shares of the real estate investment trust worth $129,000 after purchasing an additional 3,688 shares in the previous quarter. O Shaughnessy Asset Management LLC increased its stake in Cherry Hill Mortgage Investment by 10.0% in the second quarter. O Shaughnessy Asset Management LLC now owns 50,392 real estate investment trust shares worth $323,000 after purchasing an additional 4,593 shares last quarter. Finally, Penserra Capital Management LLC increased its stake in Cherry Hill Mortgage Investment by 10.8% during the third quarter. Penserra Capital Management LLC now owns 47,419 real estate investment trust shares worth $232,000 after purchasing an additional 4,640 shares last quarter. 16.87% of the shares are owned by institutional investors.
About Cherry Hill Mortgage Investments
Cherry Hill Mortgage Investment Corporation is a real estate finance company that acquires, invests and manages a portfolio of excess mortgage servicing rights. The Company operates through its segments Investments in RMBS, Investments in Service-Related Assets, and All Other segments. We also invest in agency residential mortgage-backed securities, prime jumbo mortgage loans, and other residential mortgage assets.
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