Cherry Hill Mortgage Investment Corp (NYSE:CHMI) – Equities researchers at B. Riley cut their Q2 2018 earnings per share (EPS) estimates for shares of Cherry Hill Mortgage Investment in a report released on Thursday. B. Riley analyst J. Levi-Ribner now anticipates that the real estate investment trust will post earnings of $0.49 per share for the quarter, down from their previous forecast of $0.50. B. Riley currently has a “Buy” rating and a $19.50 price target on the stock. B. Riley also issued estimates for Cherry Hill Mortgage Investment’s Q3 2018 earnings at $0.50 EPS, Q4 2018 earnings at $0.52 EPS, FY2018 earnings at $2.00 EPS, Q1 2019 earnings at $0.51 EPS, Q2 2019 earnings at $0.52 EPS, Q3 2019 earnings at $0.53 EPS, Q4 2019 earnings at $0.54 EPS and FY2019 earnings at $2.10 EPS.
Cherry Hill Mortgage Investment (NYSE:CHMI) last posted its quarterly earnings results on Tuesday, November 7th. The real estate investment trust reported $0.52 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.52. The business had revenue of $5.84 million during the quarter, compared to analyst estimates of $5.55 million. Cherry Hill Mortgage Investment had a return on equity of 9.49% and a net margin of 136.70%. During the same period in the prior year, the business earned $0.54 earnings per share.
Shares of Cherry Hill Mortgage Investment (NYSE:CHMI) traded down $0.02 during trading on Friday, reaching $17.62. The company had a trading volume of 115,638 shares, compared to its average volume of 130,291. The stock has a market capitalization of $224.41, a price-to-earnings ratio of 2.61 and a beta of 0.37. Cherry Hill Mortgage Investment has a 52 week low of $16.40 and a 52 week high of $19.43.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 30th. Investors of record on Friday, December 29th will be given a $0.49 dividend. The ex-dividend date is Thursday, December 28th. This represents a $1.96 annualized dividend and a yield of 11.12%. Cherry Hill Mortgage Investment’s payout ratio is 29.04%.
A number of institutional investors have recently modified their holdings of CHMI. Schwab Charles Investment Management Inc. purchased a new position in Cherry Hill Mortgage Investment in the second quarter worth approximately $353,000. Rhumbline Advisers purchased a new position in Cherry Hill Mortgage Investment in the second quarter worth approximately $239,000. Bank of New York Mellon Corp grew its position in Cherry Hill Mortgage Investment by 224.2% in the second quarter. Bank of New York Mellon Corp now owns 69,603 shares of the real estate investment trust’s stock worth $1,286,000 after acquiring an additional 48,132 shares during the period. Prudential Financial Inc. purchased a new position in Cherry Hill Mortgage Investment in the second quarter worth approximately $650,000. Finally, JPMorgan Chase & Co. grew its position in Cherry Hill Mortgage Investment by 117.0% in the second quarter. JPMorgan Chase & Co. now owns 130,208 shares of the real estate investment trust’s stock worth $2,405,000 after acquiring an additional 70,216 shares during the period. Institutional investors own 58.00% of the company’s stock.
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Cherry Hill Mortgage Investment 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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