Wolverine Asset Management LLC Increases Stock Holdings in Cherry Hill Mortgage Investment Co. (NYSE:CHMI)

Wolverine Asset Management LLC lifted its position in Cherry Hill Mortgage Investment Co. (NYSE:CHMI) by 83.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 335,153 shares of the real estate investment trust’s stock after purchasing an additional 151,989 shares during the quarter. Wolverine Asset Management LLC’s holdings in Cherry Hill Mortgage Investment were worth $885,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of CHMI. Penserra Capital Management LLC grew its holdings in shares of Cherry Hill Mortgage Investment by 22.9% in the third quarter. Penserra Capital Management LLC now owns 265,787 shares of the real estate investment trust’s stock valued at $964,000 after purchasing an additional 49,600 shares during the period. Geode Capital Management LLC boosted its stake in Cherry Hill Mortgage Investment by 7.6% during the third quarter. Geode Capital Management LLC now owns 337,392 shares of the real estate investment trust’s stock worth $1,225,000 after buying an additional 23,947 shares during the period. Hudson Valley Investment Advisors Inc. ADV boosted its stake in Cherry Hill Mortgage Investment by 133.3% during the third quarter. Hudson Valley Investment Advisors Inc. ADV now owns 28,000 shares of the real estate investment trust’s stock worth $102,000 after buying an additional 16,000 shares during the period. Barclays PLC purchased a new position in Cherry Hill Mortgage Investment during the third quarter worth about $52,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Cherry Hill Mortgage Investment during the third quarter worth about $49,000. Hedge funds and other institutional investors own 18.49% of the company’s stock.

Analysts Set New Price Targets

CHMI has been the subject of several research analyst reports. Janney Montgomery Scott initiated coverage on shares of Cherry Hill Mortgage Investment in a research note on Thursday, January 2nd. They set a “buy” rating and a $4.00 target price for the company. B. Riley raised shares of Cherry Hill Mortgage Investment to a “strong-buy” rating in a research note on Tuesday, January 7th. JMP Securities reaffirmed a “market perform” rating on shares of Cherry Hill Mortgage Investment in a research note on Thursday, January 23rd. Finally, StockNews.com raised shares of Cherry Hill Mortgage Investment from a “sell” rating to a “hold” rating in a research report on Monday, February 17th.

Cherry Hill Mortgage Investment Stock Performance

Shares of CHMI opened at $3.68 on Friday. The stock has a market capitalization of $116.22 million, a PE ratio of -2.42 and a beta of 1.40. Cherry Hill Mortgage Investment Co. has a 1 year low of $2.50 and a 1 year high of $3.99. The company’s 50-day simple moving average is $3.02 and its 200-day simple moving average is $3.19.

Cherry Hill Mortgage Investment Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, December 31st were issued a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.60 annualized dividend and a yield of 16.33%. Cherry Hill Mortgage Investment’s dividend payout ratio (DPR) is -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.