Cherry Hill Mortgage Investment (NYSE:CHMI) Announces Earnings Results, Hits Estimates

Cherry Hill Mortgage Investment (NYSE:CHMI) announced its quarterly earnings data on Wednesday. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.11, FiscalAI reports. The company had revenue of $11.76 million for the quarter, compared to analysts’ expectations of $2.45 million. Cherry Hill Mortgage Investment had a net margin of 14.15% and a return on equity of 16.17%.

Cherry Hill Mortgage Investment Trading Down 0.3%

NYSE CHMI traded down $0.01 during trading on Wednesday, reaching $2.59. 159,462 shares of the company’s stock were exchanged, compared to its average volume of 167,243. Cherry Hill Mortgage Investment has a fifty-two week low of $2.17 and a fifty-two week high of $3.67. The company’s fifty day simple moving average is $2.64 and its 200-day simple moving average is $2.59. The firm has a market capitalization of $95.23 million, a PE ratio of 129.60 and a beta of 1.04.

Cherry Hill Mortgage Investment Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Wednesday, December 31st were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 15.4%. The ex-dividend date of this dividend was Wednesday, December 31st. Cherry Hill Mortgage Investment’s dividend payout ratio is currently 2,000.00%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Weiss Ratings reiterated a “sell (d)” rating on shares of Cherry Hill Mortgage Investment in a research report on Monday, December 29th. Citizens Jmp upped their target price on Cherry Hill Mortgage Investment from $2.75 to $3.00 and gave the company a “market outperform” rating in a report on Thursday, January 22nd. Credit Suisse Group set a $3.00 price target on Cherry Hill Mortgage Investment in a research note on Thursday, January 22nd. Finally, Citigroup reaffirmed an “outperform” rating on shares of Cherry Hill Mortgage Investment in a research note on Thursday, January 22nd. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $3.00.

Institutional Trading of Cherry Hill Mortgage Investment

Institutional investors have recently made changes to their positions in the stock. State Street Corp boosted its stake in shares of Cherry Hill Mortgage Investment by 11.3% during the 4th quarter. State Street Corp now owns 150,191 shares of the real estate investment trust’s stock valued at $398,000 after buying an additional 15,300 shares during the period. Two Sigma Investments LP increased its position in Cherry Hill Mortgage Investment by 92.8% during the third quarter. Two Sigma Investments LP now owns 260,759 shares of the real estate investment trust’s stock worth $623,000 after buying an additional 125,499 shares during the last quarter. Hudson Bay Capital Management LP bought a new position in shares of Cherry Hill Mortgage Investment in the 2nd quarter valued at approximately $374,000. Corient Private Wealth LLC bought a new position in shares of Cherry Hill Mortgage Investment in the 2nd quarter valued at approximately $908,000. Finally, Vident Advisory LLC lifted its holdings in Cherry Hill Mortgage Investment by 58.2% in the 2nd quarter. Vident Advisory LLC now owns 59,061 shares of the real estate investment trust’s stock worth $161,000 after purchasing an additional 21,731 shares during the last quarter. 18.49% of the stock is currently owned by institutional investors and hedge funds.

Cherry Hill Mortgage Investment Company Profile

Cherry Hill Mortgage Investment Corporation is a real estate investment trust that focuses on acquiring, financing and managing residential mortgage loans and mortgage-related securities. The company’s portfolio consists primarily of agency and non-agency residential mortgage loans secured by single-family residences, together with mortgage-backed securities issued or guaranteed by Fannie Mae, Freddie Mac and Ginnie Mae.

CHMI employs active portfolio management strategies intended to generate current income and total return for its shareholders.