$3.46 Million in Sales Expected for Cherry Hill Mortgage Investment Co. (NYSE:CHMI) This Quarter

Brokerages forecast that Cherry Hill Mortgage Investment Co. (NYSE:CHMI) will report sales of $3.46 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Cherry Hill Mortgage Investment’s earnings. The lowest sales estimate is $3.19 million and the highest is $3.73 million. Cherry Hill Mortgage Investment posted sales of $6.71 million during the same quarter last year, which would indicate a negative year over year growth rate of 48.4%. The firm is scheduled to announce its next quarterly earnings results on Monday, August 9th.

On average, analysts expect that Cherry Hill Mortgage Investment will report full year sales of $17.00 million for the current fiscal year, with estimates ranging from $16.45 million to $17.54 million. For the next fiscal year, analysts forecast that the business will post sales of $18.67 million, with estimates ranging from $18.47 million to $18.86 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Cherry Hill Mortgage Investment.

Cherry Hill Mortgage Investment (NYSE:CHMI) last posted its quarterly earnings results on Sunday, May 9th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.11). Cherry Hill Mortgage Investment had a net margin of 55.90% and a return on equity of 17.47%.

CHMI has been the subject of a number of analyst reports. B. Riley restated a “buy” rating on shares of Cherry Hill Mortgage Investment in a research report on Monday, April 19th. Zacks Investment Research lowered Cherry Hill Mortgage Investment from a “hold” rating to a “sell” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $11.00.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Aigen Investment Management LP boosted its position in shares of Cherry Hill Mortgage Investment by 6.7% during the first quarter. Aigen Investment Management LP now owns 24,190 shares of the real estate investment trust’s stock worth $226,000 after buying an additional 1,516 shares during the period. Nuveen Asset Management LLC boosted its position in shares of Cherry Hill Mortgage Investment by 3.0% during the fourth quarter. Nuveen Asset Management LLC now owns 74,739 shares of the real estate investment trust’s stock worth $683,000 after buying an additional 2,165 shares during the period. Citigroup Inc. boosted its position in shares of Cherry Hill Mortgage Investment by 81.7% during the fourth quarter. Citigroup Inc. now owns 5,043 shares of the real estate investment trust’s stock worth $46,000 after buying an additional 2,267 shares during the period. State of Wisconsin Investment Board boosted its position in shares of Cherry Hill Mortgage Investment by 7.2% during the fourth quarter. State of Wisconsin Investment Board now owns 34,291 shares of the real estate investment trust’s stock worth $313,000 after buying an additional 2,300 shares during the period. Finally, Rhumbline Advisers boosted its position in shares of Cherry Hill Mortgage Investment by 13.0% during the fourth quarter. Rhumbline Advisers now owns 29,525 shares of the real estate investment trust’s stock worth $270,000 after buying an additional 3,399 shares during the period. Institutional investors and hedge funds own 39.67% of the company’s stock.

Shares of CHMI stock traded up $0.22 during trading hours on Monday, reaching $10.35. The company had a trading volume of 267,444 shares, compared to its average volume of 217,877. The stock has a fifty day simple moving average of $9.90. The firm has a market cap of $176.91 million, a P/E ratio of 19.49 and a beta of 1.24. Cherry Hill Mortgage Investment has a 12-month low of $8.22 and a 12-month high of $10.68.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 27th. Stockholders of record on Wednesday, June 30th will be given a dividend of $0.27 per share. The ex-dividend date is Tuesday, June 29th. This represents a $1.08 annualized dividend and a dividend yield of 10.43%. Cherry Hill Mortgage Investment’s dividend payout ratio is currently 60.67%.

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, Investments in Servicing Related Assets, and All Other segments. It manages a portfolio of servicing related assets and residential mortgage-backed securities (RMBS).

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