Geode Capital Management LLC Purchases 23,947 Shares of Cherry Hill Mortgage Investment Co. (NYSE:CHMI)

Geode Capital Management LLC grew its position in shares of Cherry Hill Mortgage Investment Co. (NYSE:CHMI) by 7.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 337,392 shares of the real estate investment trust’s stock after buying an additional 23,947 shares during the period. Geode Capital Management LLC owned approximately 1.07% of Cherry Hill Mortgage Investment worth $1,225,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Members Trust Co acquired a new stake in Cherry Hill Mortgage Investment in the 3rd quarter worth about $47,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Cherry Hill Mortgage Investment during the third quarter worth approximately $49,000. Barclays PLC bought a new position in shares of Cherry Hill Mortgage Investment during the third quarter worth approximately $52,000. Hudson Valley Investment Advisors Inc. ADV raised its position in shares of Cherry Hill Mortgage Investment by 133.3% in the third quarter. Hudson Valley Investment Advisors Inc. ADV now owns 28,000 shares of the real estate investment trust’s stock valued at $102,000 after buying an additional 16,000 shares in the last quarter. Finally, Wolverine Asset Management LLC bought a new stake in shares of Cherry Hill Mortgage Investment in the third quarter valued at approximately $665,000. Institutional investors and hedge funds own 18.49% of the company’s stock.

Analysts Set New Price Targets

CHMI has been the subject of a number of recent analyst reports. StockNews.com upgraded Cherry Hill Mortgage Investment from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. Janney Montgomery Scott began coverage on shares of Cherry Hill Mortgage Investment in a research report on Thursday, January 2nd. They set a “buy” rating and a $4.00 price objective for the company.

Cherry Hill Mortgage Investment Stock Performance

Cherry Hill Mortgage Investment stock opened at $2.81 on Friday. The firm has a market cap of $88.87 million, a price-to-earnings ratio of -1.85 and a beta of 1.38. Cherry Hill Mortgage Investment Co. has a 52-week low of $2.50 and a 52-week high of $4.10. The firm has a 50 day moving average price of $2.77 and a two-hundred day moving average price of $3.31.

Cherry Hill Mortgage Investment (NYSE:CHMI) last issued its quarterly earnings results on Tuesday, November 12th. The real estate investment trust reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.06). Cherry Hill Mortgage Investment had a negative net margin of 60.97% and a positive return on equity of 15.18%. The business had revenue of $14.33 million during the quarter. During the same quarter in the previous year, the business posted $0.16 earnings per share. As a group, equities research analysts predict that Cherry Hill Mortgage Investment Co. will post 0.38 EPS for the current fiscal year.

Cherry Hill Mortgage Investment Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 21.35%. The ex-dividend date of this dividend is Tuesday, December 31st. Cherry Hill Mortgage Investment’s dividend payout ratio is currently -39.47%.

Cherry Hill Mortgage Investment Profile

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.