Cherry Hill Mortgage Investment (NYSE:CHMI) Issues Quarterly Earnings Results

Cherry Hill Mortgage Investment (NYSE:CHMI) announced its earnings results on Thursday. The real estate investment trust reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.01), Zacks reports. Cherry Hill Mortgage Investment had a net margin of 26.43% and a return on equity of 21.74%.

Cherry Hill Mortgage Investment Stock Performance

Shares of NYSE CHMI traded up $0.04 during mid-day trading on Thursday, reaching $2.63. The company’s stock had a trading volume of 123,666 shares, compared to its average volume of 154,329. The stock has a market capitalization of $97.36 million, a P/E ratio of 14.64 and a beta of 1.01. Cherry Hill Mortgage Investment has a 1-year low of $2.17 and a 1-year high of $2.98. The stock has a 50-day moving average of $2.74 and a two-hundred day moving average of $2.59.

Cherry Hill Mortgage Investment Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 15.2%. The ex-dividend date is Wednesday, September 30th. Cherry Hill Mortgage Investment’s dividend payout ratio is 222.22%.

Analysts Set New Price Targets

CHMI has been the topic of a number of research reports. Wall Street Zen lowered shares of Cherry Hill Mortgage Investment from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 1st. Weiss Ratings lowered Cherry Hill Mortgage Investment from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, October 2nd. B. Riley Financial lowered Cherry Hill Mortgage Investment from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 10th. Finally, Citizens Jmp cut Cherry Hill Mortgage Investment from a “market outperform” rating to a “hold” rating in a report on Tuesday, August 11th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $3.00.

About Cherry Hill Mortgage Investment

Cherry Hill Mortgage Investment Corporation (NYSE: CHMI) is a real estate investment trust focused on residential mortgage assets. The company seeks to generate income primarily by investing in and managing mortgage-related investments rather than originating conventional consumer loans.

Its investment portfolio has included agency residential mortgage-backed securities, non-agency residential mortgage-backed securities, mortgage servicing rights and other assets associated with the U.S.