Geode Capital Management LLC Raises Stake in Cherry Hill Mortgage Investment Co. (NYSE:CHMI)

Geode Capital Management LLC boosted its stake in shares of Cherry Hill Mortgage Investment Co. (NYSE:CHMI) by 7.6% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 337,392 shares of the real estate investment trust’s stock after purchasing an additional 23,947 shares during the period. Geode Capital Management LLC’s holdings in Cherry Hill Mortgage Investment were worth $1,225,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in CHMI. Wolverine Asset Management LLC bought a new stake in shares of Cherry Hill Mortgage Investment in the 3rd quarter worth approximately $665,000. Members Trust Co purchased a new stake in Cherry Hill Mortgage Investment in the third quarter worth $47,000. Renaissance Technologies LLC raised its stake in shares of Cherry Hill Mortgage Investment by 7.9% in the second quarter. Renaissance Technologies LLC now owns 507,684 shares of the real estate investment trust’s stock valued at $1,843,000 after buying an additional 37,300 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Cherry Hill Mortgage Investment during the 3rd quarter valued at $49,000. Finally, Penserra Capital Management LLC grew its stake in shares of Cherry Hill Mortgage Investment by 22.9% during the 3rd quarter. Penserra Capital Management LLC now owns 265,787 shares of the real estate investment trust’s stock worth $964,000 after acquiring an additional 49,600 shares during the period. Hedge funds and other institutional investors own 18.49% of the company’s stock.

Cherry Hill Mortgage Investment Stock Down 1.4 %

Shares of CHMI opened at $2.81 on Friday. The stock has a market capitalization of $88.87 million, a P/E ratio of -1.85 and a beta of 1.38. Cherry Hill Mortgage Investment Co. has a twelve month low of $2.50 and a twelve month high of $4.10. The firm has a fifty day simple moving average of $2.77 and a two-hundred day simple moving average of $3.31.

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

Cherry Hill Mortgage Investment Dividend Announcement

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

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CHMI. Janney Montgomery Scott started 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 target price for the company. StockNews.com raised shares of Cherry Hill Mortgage Investment from a “sell” rating to a “hold” rating in a report on Friday, January 3rd.

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. It operates through Investments in RMBS (residential mortgage-backed securities) and Investments in Servicing Related Assets segments.