B. Riley Weighs in on Cherry Hill Mortgage Investment Corp’s Q2 2019 Earnings (CHMI)

Cherry Hill Mortgage Investment Corp (NYSE:CHMI) – Equities researchers at B. Riley increased their Q2 2019 earnings estimates for Cherry Hill Mortgage Investment in a research note issued to investors on Friday, May 17th. B. Riley analyst T. Hayes now expects that the real estate investment trust will earn $0.53 per share for the quarter, up from their previous estimate of $0.49. B. Riley also issued estimates for Cherry Hill Mortgage Investment’s Q3 2019 earnings at $0.51 EPS, Q4 2019 earnings at $0.52 EPS, FY2019 earnings at $2.16 EPS, Q1 2020 earnings at $0.49 EPS, Q2 2020 earnings at $0.51 EPS, Q3 2020 earnings at $0.50 EPS and Q4 2020 earnings at $0.51 EPS.

Cherry Hill Mortgage Investment (NYSE:CHMI) last announced its quarterly earnings results on Thursday, May 9th. The real estate investment trust reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.06. Cherry Hill Mortgage Investment had a positive return on equity of 12.36% and a negative net margin of 29.80%. The company had revenue of $6.23 million during the quarter, compared to analyst estimates of $5.23 million.

Several other equities analysts have also commented on CHMI. Zacks Investment Research raised Cherry Hill Mortgage Investment from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a research report on Tuesday. Wedbush set a $20.00 price objective on Cherry Hill Mortgage Investment and gave the company a “buy” rating in a research report on Tuesday, January 22nd. Finally, ValuEngine lowered Cherry Hill Mortgage Investment from a “hold” rating to a “sell” rating in a research report on Wednesday, April 3rd. One equities research analyst has rated the stock with a sell rating and three have issued a buy rating to the stock. Cherry Hill Mortgage Investment currently has a consensus rating of “Buy” and a consensus target price of $19.33.

Shares of Cherry Hill Mortgage Investment stock opened at $17.30 on Monday. The firm has a market cap of $286.05 million, a price-to-earnings ratio of 7.69 and a beta of 0.34. Cherry Hill Mortgage Investment has a 12 month low of $16.30 and a 12 month high of $19.35.

A number of institutional investors have recently made changes to their positions in CHMI. Bank of New York Mellon Corp lifted its position in Cherry Hill Mortgage Investment by 14.7% during the third quarter. Bank of New York Mellon Corp now owns 102,033 shares of the real estate investment trust’s stock valued at $1,847,000 after buying an additional 13,090 shares during the period. BlackRock Inc. lifted its position in Cherry Hill Mortgage Investment by 24.3% during the third quarter. BlackRock Inc. now owns 1,360,708 shares of the real estate investment trust’s stock valued at $24,629,000 after buying an additional 265,645 shares during the period. JPMorgan Chase & Co. lifted its position in Cherry Hill Mortgage Investment by 82.6% during the third quarter. JPMorgan Chase & Co. now owns 605,443 shares of the real estate investment trust’s stock valued at $10,958,000 after buying an additional 273,835 shares during the period. MetLife Investment Advisors LLC bought a new position in shares of Cherry Hill Mortgage Investment during the third quarter valued at $225,000. Finally, Teachers Advisors LLC increased its holdings in shares of Cherry Hill Mortgage Investment by 44.1% during the third quarter. Teachers Advisors LLC now owns 30,328 shares of the real estate investment trust’s stock valued at $549,000 after acquiring an additional 9,287 shares in the last quarter. 59.12% of the stock is owned by institutional investors and hedge funds.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Monday, March 18th were given a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 11.33%. The ex-dividend date of this dividend was Friday, March 15th. Cherry Hill Mortgage Investment’s dividend payout ratio is currently 87.11%.

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. The company operates through Investments in RMBS and Investments in Servicing Related Assets segments. It manages a portfolio of servicing related assets, residential mortgage-backed securities (RMBS), and prime residential mortgage loans, as well as other residential mortgage assets.

Featured Story: Why do commodities matter?

Earnings History and Estimates for Cherry Hill Mortgage Investment (NYSE:CHMI)

Receive News & Ratings for Cherry Hill Mortgage Investment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cherry Hill Mortgage Investment and related companies with MarketBeat.com's FREE daily email newsletter.