Cherry Hill Mortgage Investment Co. (NYSE:CHMI) Sees Significant Growth in Short Interest

Cherry Hill Mortgage Investment Co. (NYSE:CHMI) saw a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 672,700 shares, an increase of 98.4% from the March 15th total of 339,100 shares. Approximately 2.2% of the company’s shares are sold short. Based on an average daily trading volume, of 342,000 shares, the days-to-cover ratio is currently 2.0 days.

Cherry Hill Mortgage Investment Price Performance

NYSE CHMI traded up $0.04 during midday trading on Friday, hitting $2.72. 123,414 shares of the company traded hands, compared to its average volume of 257,733. The company has a market cap of $85.86 million, a PE ratio of -1.79 and a beta of 1.05. Cherry Hill Mortgage Investment has a 52 week low of $2.34 and a 52 week high of $3.99. The company’s 50-day simple moving average is $3.30 and its 200-day simple moving average is $3.10.

Cherry Hill Mortgage Investment (NYSE:CHMI) last posted its earnings results on Thursday, March 6th. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.10. The company had revenue of $0.66 million for the quarter, compared to analyst estimates of $1.50 million. Cherry Hill Mortgage Investment had a positive return on equity of 15.18% and a negative net margin of 60.97%. On average, research analysts predict that Cherry Hill Mortgage Investment will post 0.38 earnings per share for the current year.

Cherry Hill Mortgage Investment Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a dividend of $0.15 per share. The ex-dividend date is Monday, March 31st. This represents a $0.60 annualized dividend and a yield of 22.10%. Cherry Hill Mortgage Investment’s dividend payout ratio (DPR) is 1,000.00%.

Wall Street Analysts Forecast Growth

CHMI has been the subject of several research reports. Janney Montgomery Scott assumed coverage on shares of Cherry Hill Mortgage Investment in a research report on Thursday, January 2nd. They issued a “buy” rating and a $4.00 price objective for the company. JMP Securities reissued a “market perform” rating on shares of Cherry Hill Mortgage Investment in a research note on Thursday, January 23rd. B. Riley raised Cherry Hill Mortgage Investment to a “strong-buy” rating in a research report on Tuesday, January 7th. Finally, StockNews.com upgraded Cherry Hill Mortgage Investment from a “sell” rating to a “hold” rating in a research note on Friday, March 7th.

Insider Buying and Selling

In other news, Director Sharon L. Cook sold 13,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $3.64, for a total transaction of $47,320.00. Following the transaction, the director now owns 19,513 shares of the company’s stock, valued at approximately $71,027.32. This represents a 39.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cherry Hill Mortgage Investment

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CHMI. Wolverine Asset Management LLC increased its holdings in shares of Cherry Hill Mortgage Investment by 83.0% during the fourth quarter. Wolverine Asset Management LLC now owns 335,153 shares of the real estate investment trust’s stock valued at $885,000 after acquiring an additional 151,989 shares in the last quarter. Corient Private Wealth LLC grew its position in Cherry Hill Mortgage Investment by 24.4% during the 4th quarter. Corient Private Wealth LLC now owns 619,121 shares of the real estate investment trust’s stock worth $1,634,000 after purchasing an additional 121,447 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of Cherry Hill Mortgage Investment in the fourth quarter worth $130,000. Northern Trust Corp lifted its stake in shares of Cherry Hill Mortgage Investment by 30.9% during the fourth quarter. Northern Trust Corp now owns 128,350 shares of the real estate investment trust’s stock worth $339,000 after buying an additional 30,330 shares during the period. Finally, Jane Street Group LLC purchased a new stake in shares of Cherry Hill Mortgage Investment during the fourth quarter valued at $68,000. 18.49% of the stock is currently 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.