Cherry Hill Mortgage Investment Co. (NYSE:CHMI) Short Interest Up 102.3% in March

Cherry Hill Mortgage Investment Co. (NYSE:CHMIGet Free Report) saw a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 533,500 shares, a growth of 102.3% from the March 15th total of 263,700 shares. Based on an average trading volume of 222,000 shares, the days-to-cover ratio is currently 2.4 days.

Institutional Investors Weigh In On Cherry Hill Mortgage Investment

A number of institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. raised its position in shares of Cherry Hill Mortgage Investment by 0.8% during the first quarter. BlackRock Inc. now owns 359,448 shares of the real estate investment trust’s stock worth $1,984,000 after purchasing an additional 2,769 shares during the period. Geode Capital Management LLC raised its position in shares of Cherry Hill Mortgage Investment by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 175,232 shares of the real estate investment trust’s stock worth $1,016,000 after purchasing an additional 2,953 shares during the period. State Street Corp raised its position in Cherry Hill Mortgage Investment by 6.5% during the first quarter. State Street Corp now owns 51,982 shares of the real estate investment trust’s stock valued at $414,000 after buying an additional 3,172 shares during the period. Royal Bank of Canada raised its position in 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’s stock valued at $129,000 after buying an additional 3,688 shares during the period. Finally, Penserra Capital Management LLC lifted its stake in Cherry Hill Mortgage Investment by 29.0% in the 1st quarter. Penserra Capital Management LLC now owns 32,846 shares of the real estate investment trust’s stock worth $253,000 after acquiring an additional 7,380 shares in the last quarter. 18.49% of the stock is owned by institutional investors and hedge funds.

Cherry Hill Mortgage Investment Trading Down 0.6 %

Shares of Cherry Hill Mortgage Investment stock traded down $0.02 during trading on Friday, hitting $3.34. The stock had a trading volume of 232,295 shares, compared to its average volume of 235,715. The business has a fifty day moving average of $3.52 and a two-hundred day moving average of $3.64. Cherry Hill Mortgage Investment has a fifty-two week low of $2.77 and a fifty-two week high of $5.61.

Cherry Hill Mortgage Investment (NYSE:CHMIGet Free Report) last announced its quarterly earnings data on Thursday, March 7th. The real estate investment trust reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.01). The firm had revenue of $12.79 million during the quarter, compared to analyst estimates of $3.11 million. Cherry Hill Mortgage Investment had a negative net margin of 69.00% and a positive return on equity of 19.65%. During the same quarter last year, the company earned $0.24 EPS. On average, equities analysts forecast that Cherry Hill Mortgage Investment will post 0.75 EPS for the current fiscal year.

Cherry Hill Mortgage Investment Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 17.96%. The ex-dividend date is Wednesday, March 27th. Cherry Hill Mortgage Investment’s dividend payout ratio (DPR) is presently -35.29%.

Analysts Set New Price Targets

CHMI has been the subject of a number of analyst reports. StockNews.com upgraded Cherry Hill Mortgage Investment from a “sell” rating to a “hold” rating in a research report on Friday, March 15th. B. Riley reiterated 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 report on Thursday, March 21st.

Read Our Latest Stock Report on CHMI

About Cherry Hill Mortgage Investment

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Cherry Hill Mortgage Investment Corporation, a residential real estate finance company, acquires, invests in, and manages residential mortgage assets in the United States. The company operates through Investments in RMBS (residential mortgage-backed securities) and Investments in Servicing Related Assets segments.

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