Cherry Hill Mortgage Investment (NYSE:CHMI) Releases Earnings Results, Misses Estimates By $0.02 EPS

Cherry Hill Mortgage Investment (NYSE:CHMI) posted its earnings results on Thursday. The real estate investment trust reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.02), FiscalAI reports. The company had revenue of $8.57 million for the quarter, compared to analysts’ expectations of $2.87 million. Cherry Hill Mortgage Investment had a net margin of 14.15% and a return on equity of 16.29%.

Cherry Hill Mortgage Investment Stock Performance

Shares of Cherry Hill Mortgage Investment stock traded up $0.05 during trading hours on Friday, hitting $2.36. The company’s stock had a trading volume of 444,815 shares, compared to its average volume of 304,822. Cherry Hill Mortgage Investment has a twelve month low of $2.25 and a twelve month high of $3.68. The stock has a market cap of $85.07 million, a price-to-earnings ratio of 118.00 and a beta of 0.98. The firm has a fifty day moving average of $2.54 and a 200-day moving average of $2.76.

Cherry Hill Mortgage Investment Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th were paid a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 16.9%. Cherry Hill Mortgage Investment’s dividend payout ratio (DPR) is 2,000.00%.

Analyst Ratings Changes

A number of brokerages recently issued reports on CHMI. Citizens Jmp raised Cherry Hill Mortgage Investment from a “market perform” rating to an “outperform” rating and set a $2.75 price target for the company in a research note on Thursday. Weiss Ratings reiterated a “sell (d+)” rating on shares of Cherry Hill Mortgage Investment in a research report on Wednesday, October 8th. Janney Montgomery Scott downgraded shares of Cherry Hill Mortgage Investment from a “buy” rating to a “neutral” rating in a report on Monday, October 13th. Finally, Wall Street Zen downgraded shares of Cherry Hill Mortgage Investment from a “buy” rating to a “hold” rating in a research report on Sunday, September 28th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Cherry Hill Mortgage Investment has an average rating of “Hold” and a consensus target price of $3.38.

Institutional Investors Weigh In On Cherry Hill Mortgage Investment

Several institutional investors have recently modified their holdings of CHMI. Glenview Trust co purchased a new position in Cherry Hill Mortgage Investment during the 2nd quarter worth $34,000. Envestnet Asset Management Inc. acquired a new stake in Cherry Hill Mortgage Investment in the second quarter valued at $45,000. JPMorgan Chase & Co. raised its position in Cherry Hill Mortgage Investment by 27,027.0% during the third quarter. JPMorgan Chase & Co. now owns 20,074 shares of the real estate investment trust’s stock worth $48,000 after acquiring an additional 20,000 shares during the last quarter. Vident Advisory LLC lifted its stake 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 valued at $161,000 after buying an additional 21,731 shares in the last quarter. Finally, Jane Street Group LLC boosted its stake in shares of Cherry Hill Mortgage Investment by 262.5% during the first quarter. Jane Street Group LLC now owns 93,672 shares of the real estate investment trust’s stock valued at $309,000 after acquiring an additional 67,832 shares during the last quarter. 18.49% of the stock is owned by hedge funds and other institutional investors.

Cherry Hill Mortgage Investment Company Profile

Cherry Hill Mortgage Investment Corporation, a residential real estate finance company, acquires, invests in, and manages residential mortgage assets in the United States. It operates through Investments in RMBS (residential mortgage-backed securities) and Investments in Servicing Related Assets segments.