Gables Capital Management Inc. Increases Position in Cherry Hill Mortgage Investment Corp (NYSE:CHMI)

Gables Capital Management Inc. boosted its holdings in shares of Cherry Hill Mortgage Investment Corp (NYSE:CHMI) by 3.6% in the 2nd quarter, Holdings Channel reports. The fund owned 86,017 shares of the real estate investment trust’s stock after acquiring an additional 2,992 shares during the quarter. Gables Capital Management Inc.’s holdings in Cherry Hill Mortgage Investment were worth $776,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in CHMI. State Street Corp grew its stake in shares of Cherry Hill Mortgage Investment by 30.3% in the 1st quarter. State Street Corp now owns 676,938 shares of the real estate investment trust’s stock valued at $4,410,000 after buying an additional 157,269 shares during the period. Steward Partners Investment Advisory LLC purchased a new stake in shares of Cherry Hill Mortgage Investment in the 1st quarter valued at approximately $849,000. Wiley BROS. Aintree Capital LLC grew its stake in shares of Cherry Hill Mortgage Investment by 185.5% in the 2nd quarter. Wiley BROS. Aintree Capital LLC now owns 173,187 shares of the real estate investment trust’s stock valued at $1,562,000 after buying an additional 112,532 shares during the period. Emerald Mutual Fund Advisers Trust purchased a new stake in shares of Cherry Hill Mortgage Investment in the 2nd quarter valued at approximately $904,000. Finally, Wolverine Asset Management LLC grew its stake in shares of Cherry Hill Mortgage Investment by 18.4% in the 1st quarter. Wolverine Asset Management LLC now owns 510,494 shares of the real estate investment trust’s stock valued at $3,165,000 after buying an additional 79,438 shares during the period. 48.87% of the stock is owned by institutional investors.

Shares of CHMI traded down $0.12 during midday trading on Friday, reaching $9.23. The stock had a trading volume of 370,825 shares, compared to its average volume of 233,028. Cherry Hill Mortgage Investment Corp has a 1-year low of $2.76 and a 1-year high of $16.02. The company’s fifty day simple moving average is $9.08 and its two-hundred day simple moving average is $10.03. The company has a market cap of $152.55 million, a price-to-earnings ratio of 4.91 and a beta of 1.21.

Cherry Hill Mortgage Investment (NYSE:CHMI) last posted its earnings results on Monday, May 11th. The real estate investment trust reported $0.47 EPS for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.04. The firm had revenue of $7.96 million for the quarter, compared to the consensus estimate of $4.48 million. Cherry Hill Mortgage Investment had a negative net margin of 86.62% and a positive return on equity of 13.99%. Research analysts expect that Cherry Hill Mortgage Investment Corp will post 1.32 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 28th. Shareholders of record on Tuesday, June 30th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 11.70%. The ex-dividend date was Monday, June 29th. Cherry Hill Mortgage Investment’s payout ratio is currently 53.73%.

Several brokerages have recently commented on CHMI. B. Riley restated a “buy” rating and issued a $11.50 price objective on shares of Cherry Hill Mortgage Investment in a report on Friday, June 19th. Wedbush decreased their price objective on shares of Cherry Hill Mortgage Investment from $16.00 to $12.00 and set an “outperform” rating on the stock in a report on Wednesday, May 13th. JMP Securities upped their price objective on shares of Cherry Hill Mortgage Investment from $9.00 to $10.50 and gave the stock a “market outperform” rating in a report on Tuesday, July 7th. ValuEngine upgraded shares of Cherry Hill Mortgage Investment from a “sell” rating to a “hold” rating in a report on Thursday, July 2nd. Finally, Zacks Investment Research lowered shares of Cherry Hill Mortgage Investment from a “hold” rating to a “sell” rating in a report on Tuesday, July 21st. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. Cherry Hill Mortgage Investment currently has a consensus rating of “Buy” and an average price target of $12.63.

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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Institutional Ownership by Quarter for Cherry Hill Mortgage Investment (NYSE:CHMI)

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