Cherry Hill Mortgage Investment (NYSE:CHMI) Share Price Passes Above Fifty Day Moving Average of $3.61

Cherry Hill Mortgage Investment Co. (NYSE:CHMI)’s share price crossed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $3.61 and traded as high as $3.96. Cherry Hill Mortgage Investment shares last traded at $3.96, with a volume of 215,891 shares.

Analysts Set New Price Targets

CHMI has been the topic of a number of recent analyst reports. StockNews.com raised Cherry Hill Mortgage Investment from a “sell” rating to a “hold” rating in a research note on Friday, March 15th. B. Riley reissued a “buy” rating and set a $5.00 price target (down previously from $5.50) on shares of Cherry Hill Mortgage Investment in a research note on Thursday, March 21st.

Cherry Hill Mortgage Investment Trading Up 0.9 %

The firm has a market capitalization of $118.73 million, a PE ratio of -7.75 and a beta of 1.48. The firm has a 50-day moving average of $3.61 and a two-hundred day moving average of $3.68.

Cherry Hill Mortgage Investment Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 15.17%. The ex-dividend date of this dividend is Thursday, June 27th. Cherry Hill Mortgage Investment’s dividend payout ratio (DPR) is currently -117.65%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Cherry Hill Mortgage Investment by 2.7% in the first quarter. Vanguard Group Inc. now owns 1,368,084 shares of the real estate investment trust’s stock valued at $4,843,000 after purchasing an additional 36,039 shares during the period. Quadrature Capital Ltd purchased a new position in Cherry Hill Mortgage Investment in the fourth quarter valued at about $98,000. Cannell Capital LLC purchased a new position in Cherry Hill Mortgage Investment in the fourth quarter valued at about $2,516,000. Oxford Asset Management LLP purchased a new position in Cherry Hill Mortgage Investment in the fourth quarter valued at about $89,000. Finally, Jump Financial LLC purchased a new position in Cherry Hill Mortgage Investment in the fourth quarter valued at about $171,000. 18.49% of the stock is owned by hedge funds and other institutional investors.

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.