Analysts Anticipate Cherry Hill Mortgage Investment Corp (CHMI) Will Announce Earnings of $0.50 Per Share

Wall Street analysts forecast that Cherry Hill Mortgage Investment Corp (NYSE:CHMI) will announce earnings per share of $0.50 for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Cherry Hill Mortgage Investment Corp’s earnings, with the highest EPS estimate coming in at $0.51 and the lowest estimate coming in at $0.50. Cherry Hill Mortgage Investment Corp posted earnings per share of $0.53 during the same quarter last year, which indicates a negative year over year growth rate of 5.7%. The business is expected to announce its next quarterly earnings results on Tuesday, August 8th.

On average, analysts expect that Cherry Hill Mortgage Investment Corp will report full year earnings of $2.03 per share for the current financial year, with EPS estimates ranging from $2.00 to $2.05. For the next fiscal year, analysts expect that the company will report earnings of $2.03 per share, with EPS estimates ranging from $2.00 to $2.05. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that follow Cherry Hill Mortgage Investment Corp.

Cherry Hill Mortgage Investment Corp (NYSE:CHMI) last posted its earnings results on Tuesday, May 9th. The real estate investment trust reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.14. Cherry Hill Mortgage Investment Corp had a net margin of 26.82% and a return on equity of 10.45%. The business had revenue of $3.65 million during the quarter, compared to the consensus estimate of $8.50 million. During the same quarter in the previous year, the firm posted $0.55 EPS. The firm’s revenue was up 3.4% on a year-over-year basis.

CHMI has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of Cherry Hill Mortgage Investment Corp from a “strong sell” rating to a “buy” rating and set a $21.00 price target on the stock in a research note on Wednesday, March 22nd. Citigroup Inc restated a “buy” rating and set a $19.00 price target (down previously from $20.00) on shares of Cherry Hill Mortgage Investment Corp in a research note on Sunday. Finally, FBR & Co restated an “outperform” rating and set a $18.50 price target (down previously from $21.50) on shares of Cherry Hill Mortgage Investment Corp in a research note on Tuesday, March 28th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $18.80.

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Cherry Hill Mortgage Investment Corp (NYSE:CHMI) remained flat at $17.79 during midday trading on Friday. The company had a trading volume of 114,624 shares. The stock has a market cap of $133.87 million, a PE ratio of 2.49 and a beta of 0.34. Cherry Hill Mortgage Investment Corp has a 52 week low of $14.81 and a 52 week high of $19.14. The company’s 50-day moving average is $17.36 and its 200-day moving average is $17.83.

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 25th. Shareholders of record on Monday, March 20th were paid a dividend of $0.49 per share. The ex-dividend date was Thursday, March 16th. This represents a $1.96 dividend on an annualized basis and a yield of 11.02%. Cherry Hill Mortgage Investment Corp’s payout ratio is 179.82%.

In related news, CFO Martin Levine purchased 2,000 shares of the business’s stock in a transaction on Friday, March 24th. The shares were acquired at an average price of $16.48 per share, for a total transaction of $32,960.00. Following the purchase, the chief financial officer now owns 16,600 shares of the company’s stock, valued at approximately $273,568. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have acquired a total of 3,750 shares of company stock worth $61,835 in the last 90 days. 14.90% of the stock is currently owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the company. Tudor Investment Corp ET AL acquired a new stake in Cherry Hill Mortgage Investment Corp during the first quarter worth $699,000. Renaissance Technologies LLC raised its stake in Cherry Hill Mortgage Investment Corp by 23.2% in the first quarter. Renaissance Technologies LLC now owns 724,400 shares of the real estate investment trust’s stock worth $12,380,000 after buying an additional 136,400 shares during the last quarter. Morgan Stanley raised its stake in Cherry Hill Mortgage Investment Corp by 20.3% in the first quarter. Morgan Stanley now owns 94,430 shares of the real estate investment trust’s stock worth $1,614,000 after buying an additional 15,941 shares during the last quarter. Cannell Capital LLC acquired a new stake in Cherry Hill Mortgage Investment Corp during the first quarter worth $325,000. Finally, Geode Capital Management LLC raised its stake in Cherry Hill Mortgage Investment Corp by 40.7% in the first quarter. Geode Capital Management LLC now owns 67,165 shares of the real estate investment trust’s stock worth $1,147,000 after buying an additional 19,441 shares during the last quarter. Hedge funds and other institutional investors own 47.60% of the company’s stock.

Cherry Hill Mortgage Investment Corp Company Profile

Cherry Hill Mortgage Investment Corporation is a residential real estate finance company. The Company is focused on acquiring, investing in and managing residential mortgage assets in the United States. Its principal objective is to generate attractive current yields and risk-adjusted total returns for its stockholders over the long term, primarily through dividend distributions and secondarily through capital appreciation.

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