Cherry Hill Mortgage Investment (NYSE:CHMI) Announces Quarterly Earnings Results, Misses Expectations By $0.02 EPS

Cherry Hill Mortgage Investment (NYSE:CHMI) posted its earnings results on Thursday. The real estate investment trust reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.02), FiscalAI reports. The company had revenue of $8.57 million during the quarter, compared to analyst estimates 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 Price Performance

Shares of CHMI stock traded up $0.05 during trading on Friday, reaching $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 1-year low of $2.25 and a 1-year high of $3.68. The stock’s 50-day moving average price is $2.54 and its 200 day moving average price is $2.76. The company has a market capitalization of $85.07 million, a price-to-earnings ratio of 118.00 and a beta of 0.98.

Cherry Hill Mortgage Investment Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Tuesday, September 30th were issued a $0.10 dividend. The ex-dividend date 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 payout ratio is 2,000.00%.

Institutional Investors Weigh In On Cherry Hill Mortgage Investment

A number of hedge funds have recently bought and sold shares of the stock. Corient Private Wealth LLC purchased a new position in shares of Cherry Hill Mortgage Investment in the 2nd quarter valued at about $908,000. Hudson Bay Capital Management LP acquired a new stake in Cherry Hill Mortgage Investment in the second quarter valued at approximately $374,000. Jane Street Group LLC raised its holdings in Cherry Hill Mortgage Investment by 262.5% in 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 in the last quarter. Vident Advisory LLC lifted its stake in Cherry Hill Mortgage Investment by 58.2% in the second quarter. Vident Advisory LLC now owns 59,061 shares of the real estate investment trust’s stock worth $161,000 after acquiring an additional 21,731 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Cherry Hill Mortgage Investment by 27,027.0% during the 3rd 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 in the last quarter. Institutional investors and hedge funds own 18.49% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.