Analysts Expect Cherry Hill Mortgage Investment Corp (NYSE:CHMI) to Post $0.51 Earnings Per Share

Equities analysts expect that Cherry Hill Mortgage Investment Corp (NYSE:CHMI) will report earnings of $0.51 per share for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Cherry Hill Mortgage Investment’s earnings, with the lowest EPS estimate coming in at $0.50 and the highest estimate coming in at $0.51. Cherry Hill Mortgage Investment reported earnings per share of $0.50 during the same quarter last year, which would indicate a positive year-over-year growth rate of 2%. The company is expected to announce its next earnings report after the market closes on Thursday, August 8th.

On average, analysts expect that Cherry Hill Mortgage Investment will report full year earnings of $2.12 per share for the current financial year. For the next fiscal year, analysts anticipate that the company will report earnings of $2.09 per share, with EPS estimates ranging from $2.02 to $2.15. Zacks Investment Research’s earnings per share calculations are an average based on a survey of analysts that cover Cherry Hill Mortgage Investment.

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

Several equities research analysts have recently issued reports on CHMI shares. ValuEngine downgraded shares of Cherry Hill Mortgage Investment from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 24th. TheStreet downgraded shares of Cherry Hill Mortgage Investment from a “b-” rating to a “c” rating in a research report on Thursday, May 30th. Finally, Zacks Investment Research cut shares of Cherry Hill Mortgage Investment from a “hold” rating to a “sell” rating in a report on Wednesday, July 24th. Two research analysts have rated the stock with a sell rating and two have assigned a buy rating to the company’s stock. Cherry Hill Mortgage Investment currently has an average rating of “Hold” and a consensus price target of $19.33.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC lifted its stake in Cherry Hill Mortgage Investment by 24.3% in the first quarter. SG Americas Securities LLC now owns 32,171 shares of the real estate investment trust’s stock valued at $554,000 after acquiring an additional 6,280 shares during the last quarter. Metropolitan Life Insurance Co. NY lifted its stake in shares of Cherry Hill Mortgage Investment by 356.7% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 5,741 shares of the real estate investment trust’s stock worth $101,000 after buying an additional 4,484 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Cherry Hill Mortgage Investment by 21.6% during the 4th quarter. Millennium Management LLC now owns 223,336 shares of the real estate investment trust’s stock worth $3,917,000 after buying an additional 39,682 shares during the last quarter. Nordea Investment Management AB lifted its stake in shares of Cherry Hill Mortgage Investment by 0.9% during the 4th quarter. Nordea Investment Management AB now owns 139,000 shares of the real estate investment trust’s stock worth $2,438,000 after buying an additional 1,200 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Cherry Hill Mortgage Investment by 9.0% during the 4th quarter. Bank of New York Mellon Corp now owns 111,172 shares of the real estate investment trust’s stock worth $1,950,000 after buying an additional 9,139 shares during the last quarter. Institutional investors and hedge funds own 59.46% of the company’s stock.

Shares of CHMI stock traded down $0.20 during trading hours on Wednesday, hitting $14.66. 251,420 shares of the company were exchanged, compared to its average volume of 211,961. The company has a 50 day moving average of $15.80. Cherry Hill Mortgage Investment has a 52 week low of $14.75 and a 52 week high of $19.35. The stock has a market cap of $244.94 million, a P/E ratio of 6.52 and a beta of 0.35.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 30th. Investors of record on Friday, June 28th were issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 13.37%. The ex-dividend date of this dividend was Thursday, June 27th. Cherry Hill Mortgage Investment’s payout ratio is 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.

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

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