Zacks: Analysts Anticipate Cherry Hill Mortgage Investment Corp (CHMI) Will Announce Quarterly Sales of $4.92 Million

Wall Street brokerages predict that Cherry Hill Mortgage Investment Corp (NYSE:CHMI) will announce sales of $4.92 million for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Cherry Hill Mortgage Investment’s earnings. The lowest sales estimate is $4.77 million and the highest is $5.07 million. Cherry Hill Mortgage Investment reported sales of $3.65 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 34.8%. The firm is expected to issue its next quarterly earnings results on Tuesday, May 8th.

On average, analysts expect that Cherry Hill Mortgage Investment will report full year sales of $4.92 million for the current financial year, with estimates ranging from $14.67 million to $14.85 million. For the next financial year, analysts anticipate that the firm will report sales of $8.99 million per share. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Cherry Hill Mortgage Investment.

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Cherry Hill Mortgage Investment (NYSE:CHMI) last announced its earnings results on Friday, March 16th. The real estate investment trust reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.05. Cherry Hill Mortgage Investment had a net margin of 113.50% and a return on equity of 9.83%. The business had revenue of $6.98 million during the quarter, compared to analysts’ expectations of $5.84 million.

A number of brokerages have recently commented on CHMI. Zacks Investment Research raised shares of Cherry Hill Mortgage Investment from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 13th. B. Riley set a $20.00 price target on shares of Cherry Hill Mortgage Investment and gave the stock a “buy” rating in a research note on Monday, March 19th. Finally, ValuEngine upgraded shares of Cherry Hill Mortgage Investment from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, March 7th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Cherry Hill Mortgage Investment currently has an average rating of “Buy” and an average price target of $19.63.

Several institutional investors have recently modified their holdings of the company. Municipal Employees Retirement System of Michigan increased its stake in shares of Cherry Hill Mortgage Investment by 44.2% during the fourth quarter. Municipal Employees Retirement System of Michigan now owns 48,960 shares of the real estate investment trust’s stock worth $881,000 after acquiring an additional 15,000 shares during the period. Two Sigma Investments LP acquired a new position in shares of Cherry Hill Mortgage Investment during the fourth quarter worth about $945,000. Two Sigma Advisers LP increased its stake in shares of Cherry Hill Mortgage Investment by 23.5% during the fourth quarter. Two Sigma Advisers LP now owns 42,100 shares of the real estate investment trust’s stock worth $757,000 after acquiring an additional 8,000 shares during the period. Martingale Asset Management L P increased its stake in shares of Cherry Hill Mortgage Investment by 2.3% during the fourth quarter. Martingale Asset Management L P now owns 142,152 shares of the real estate investment trust’s stock worth $2,558,000 after acquiring an additional 3,207 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of Cherry Hill Mortgage Investment by 28.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 86,041 shares of the real estate investment trust’s stock worth $1,548,000 after acquiring an additional 19,005 shares during the period. Institutional investors and hedge funds own 51.94% of the company’s stock.

Shares of NYSE:CHMI opened at $17.55 on Friday. Cherry Hill Mortgage Investment has a one year low of $16.01 and a one year high of $19.43. The stock has a market capitalization of $223.39, a PE ratio of 7.91 and a beta of 0.22.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 24th. Stockholders of record on Thursday, March 29th will be paid a dividend of $0.49 per share. The ex-dividend date is Wednesday, March 28th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 11.17%. Cherry Hill Mortgage Investment’s dividend payout ratio (DPR) is 88.29%.

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About Cherry Hill Mortgage Investment

Cherry Hill Mortgage Investment Corporation is a residential real estate finance company. The Company is focused on acquiring, investing in and managing residential mortgage assets in the United States. Its principal objective is to generate attractive current yields and risk-adjusted total returns for its stockholders over the long term, primarily through dividend distributions and secondarily through capital appreciation.

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

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