Cherry Hill Mortgage Investment (NYSE:CHMI) Releases Earnings Results, Meets Expectations

Cherry Hill Mortgage Investment (NYSE:CHMI) posted its quarterly earnings data on Wednesday. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.11, FiscalAI reports. Cherry Hill Mortgage Investment had a net margin of 14.15% and a return on equity of 16.17%. The business had revenue of $11.76 million during the quarter, compared to the consensus estimate of $2.45 million.

Cherry Hill Mortgage Investment Trading Down 0.3%

Shares of Cherry Hill Mortgage Investment stock traded down $0.01 during mid-day trading on Wednesday, reaching $2.59. 159,462 shares of the stock were exchanged, compared to its average volume of 167,243. The company has a market cap of $95.23 million, a price-to-earnings ratio of 129.60 and a beta of 1.04. The firm has a 50-day simple moving average of $2.64 and a 200 day simple moving average of $2.59. Cherry Hill Mortgage Investment has a fifty-two week low of $2.17 and a fifty-two week high of $3.67.

Cherry Hill Mortgage Investment Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 15.4%. Cherry Hill Mortgage Investment’s dividend payout ratio (DPR) is presently 2,000.00%.

Institutional Investors Weigh In On Cherry Hill Mortgage Investment

A number of large investors have recently bought and sold shares of the business. XTX Topco Ltd bought a new position in Cherry Hill Mortgage Investment in the 4th quarter valued at $27,000. Cetera Investment Advisers raised its holdings in shares of Cherry Hill Mortgage Investment by 50.9% in the fourth quarter. Cetera Investment Advisers now owns 37,054 shares of the real estate investment trust’s stock valued at $94,000 after buying an additional 12,504 shares during the last quarter. State Street Corp raised its stake in shares of Cherry Hill Mortgage Investment by 11.3% in the fourth quarter. State Street Corp now owns 150,191 shares of the real estate investment trust’s stock worth $398,000 after acquiring an additional 15,300 shares during the last quarter. Summit Financial LLC lifted its position in shares of Cherry Hill Mortgage Investment by 106.1% during the fourth quarter. Summit Financial LLC now owns 1,010,876 shares of the real estate investment trust’s stock worth $2,679,000 after purchasing an additional 520,291 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC lifted its position in shares of Cherry Hill Mortgage Investment by 34.3% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 25,546 shares of the real estate investment trust’s stock worth $65,000 after purchasing an additional 6,525 shares in the last quarter. 18.49% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on CHMI shares. Credit Suisse Group set a $3.00 target price on shares of Cherry Hill Mortgage Investment in a research report on Thursday, January 22nd. Weiss Ratings reissued a “sell (d)” rating on shares of Cherry Hill Mortgage Investment in a research report on Monday, December 29th. Citigroup reaffirmed an “outperform” rating on shares of Cherry Hill Mortgage Investment in a report on Thursday, January 22nd. Finally, Citizens Jmp upped their price target on Cherry Hill Mortgage Investment from $2.75 to $3.00 and gave the stock a “market outperform” rating in a report on Thursday, January 22nd. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $3.00.

Cherry Hill Mortgage Investment Company Profile

Cherry Hill Mortgage Investment Corporation is a real estate investment trust that focuses on acquiring, financing and managing residential mortgage loans and mortgage-related securities. The company’s portfolio consists primarily of agency and non-agency residential mortgage loans secured by single-family residences, together with mortgage-backed securities issued or guaranteed by Fannie Mae, Freddie Mac and Ginnie Mae.

CHMI employs active portfolio management strategies intended to generate current income and total return for its shareholders.