Cherry Hill Mortgage Investment Corp (NYSE:CHMI) President Jeffrey B. Lown Acquires 750 Shares

Cherry Hill Mortgage Investment Corp (NYSE:CHMI) President Jeffrey B. Lown purchased 750 shares of the firm’s stock in a transaction dated Friday, May 31st. The shares were bought at an average cost of $16.30 per share, with a total value of $12,225.00. Following the purchase, the president now directly owns 10,100 shares of the company’s stock, valued at approximately $164,630. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link.

Shares of CHMI stock traded up $0.11 on Friday, reaching $16.00. 303,900 shares of the company were exchanged, compared to its average volume of 192,980. The company has a market cap of $264.73 million, a P/E ratio of 7.10 and a beta of 0.38. The firm has a 50-day moving average of $16.74. Cherry Hill Mortgage Investment Corp has a 1 year low of $15.84 and a 1 year high of $19.35.

Cherry Hill Mortgage Investment (NYSE:CHMI) last released its earnings results on Thursday, May 9th. The real estate investment trust reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.06. Cherry Hill Mortgage Investment had a negative net margin of 29.80% and a positive return on equity of 12.36%. The business had revenue of $6.23 million during the quarter, compared to analysts’ expectations of $5.23 million. On average, equities research analysts anticipate that Cherry Hill Mortgage Investment Corp will post 2.14 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 30th. Stockholders of record on Friday, June 28th will be issued a $0.49 dividend. The ex-dividend date is Thursday, June 27th. This represents a $1.96 annualized dividend and a dividend yield of 12.25%. Cherry Hill Mortgage Investment’s dividend payout ratio is currently 87.11%.

A number of research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Cherry Hill Mortgage Investment from a “sell” rating to a “hold” rating in a research report on Tuesday, March 12th. ValuEngine downgraded shares of Cherry Hill Mortgage Investment from a “hold” rating to a “sell” rating in a research report on Wednesday, April 3rd. Finally, TheStreet downgraded shares of Cherry Hill Mortgage Investment from a “b-” rating to a “c” rating in a research report on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $19.33.

Several hedge funds have recently modified their holdings of CHMI. Synovus Financial Corp purchased a new position in shares of Cherry Hill Mortgage Investment in the 4th quarter valued at $56,000. BNP Paribas Arbitrage SA grew its position in shares of Cherry Hill Mortgage Investment by 534.5% in the 1st quarter. BNP Paribas Arbitrage SA now owns 3,344 shares of the real estate investment trust’s stock valued at $58,000 after buying an additional 2,817 shares during the last quarter. Advisor Group Inc. grew its position in shares of Cherry Hill Mortgage Investment by 675.9% in the 4th quarter. Advisor Group Inc. now owns 4,182 shares of the real estate investment trust’s stock valued at $73,000 after buying an additional 3,643 shares during the last quarter. Metropolitan Life Insurance Co. NY grew its position in shares of Cherry Hill Mortgage Investment by 356.7% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 5,741 shares of the real estate investment trust’s stock valued at $101,000 after buying an additional 4,484 shares during the last quarter. Finally, Bank of America Corp DE grew its position in shares of Cherry Hill Mortgage Investment by 57.4% in the 4th quarter. Bank of America Corp DE now owns 11,337 shares of the real estate investment trust’s stock valued at $199,000 after buying an additional 4,136 shares during the last quarter. Hedge funds and other institutional investors own 59.50% of the company’s stock.

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. The company operates through Investments in RMBS and Investments in Servicing Related Assets segments. It manages a portfolio of servicing related assets, residential mortgage-backed securities (RMBS), and prime residential mortgage loans, as well as other residential mortgage assets.

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