Cherry Hill Mortgage Investment Co. (NYSE:CHMI – Get Free Report) was the target of a significant drop in short interest in December. As of December 15th, there was short interest totalling 726,600 shares, a drop of 14.6% from the November 30th total of 851,200 shares. Based on an average daily volume of 317,500 shares, the days-to-cover ratio is currently 2.3 days.
Insider Activity at Cherry Hill Mortgage Investment
In related news, President Jeffrey B. Lown bought 8,621 shares of the stock in a transaction that occurred on Friday, November 10th. The shares were acquired at an average cost of $3.47 per share, with a total value of $29,914.87. Following the completion of the purchase, the president now directly owns 30,128 shares of the company’s stock, valued at approximately $104,544.16. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.10% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Cherry Hill Mortgage Investment
Several large investors have recently modified their holdings of CHMI. BlackRock Inc. raised its position in Cherry Hill Mortgage Investment by 0.8% in the 1st quarter. BlackRock Inc. now owns 359,448 shares of the real estate investment trust’s stock worth $1,984,000 after buying an additional 2,769 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Cherry Hill Mortgage Investment by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 175,232 shares of the real estate investment trust’s stock valued at $1,016,000 after purchasing an additional 2,953 shares during the period. State Street Corp grew its stake in shares of Cherry Hill Mortgage Investment by 6.5% during the 1st quarter. State Street Corp now owns 51,982 shares of the real estate investment trust’s stock valued at $414,000 after purchasing an additional 3,172 shares during the period. Royal Bank of Canada grew its stake in shares of Cherry Hill Mortgage Investment by 16.3% during the 3rd quarter. Royal Bank of Canada now owns 26,262 shares of the real estate investment trust’s stock valued at $129,000 after purchasing an additional 3,688 shares during the period. Finally, Penserra Capital Management LLC grew its stake in shares of Cherry Hill Mortgage Investment by 29.0% during the 1st quarter. Penserra Capital Management LLC now owns 32,846 shares of the real estate investment trust’s stock valued at $253,000 after purchasing an additional 7,380 shares during the period. Hedge funds and other institutional investors own 13.71% of the company’s stock.
Analysts Set New Price Targets
Separately, StockNews.com upgraded shares of Cherry Hill Mortgage Investment to a “sell” rating in a report on Monday, October 2nd.
Read Our Latest Stock Analysis on CHMI
Cherry Hill Mortgage Investment Stock Performance
Shares of CHMI stock traded down $0.11 during mid-day trading on Monday, reaching $4.04. 450,600 shares of the company’s stock traded hands, compared to its average volume of 360,679. Cherry Hill Mortgage Investment has a 12 month low of $2.77 and a 12 month high of $7.24. The company’s 50-day moving average price is $3.73 and its 200-day moving average price is $3.96.
Cherry Hill Mortgage Investment Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Friday, December 29th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 14.85%. The ex-dividend date is Thursday, December 28th. Cherry Hill Mortgage Investment’s dividend payout ratio is presently -30.00%.
Cherry Hill Mortgage Investment Company Profile
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), Investments in Servicing Related Assets, and All Other segments.
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