Cherry Hill Mortgage Investment (NYSE:CHMI) Posts Earnings Results

Cherry Hill Mortgage Investment (NYSE:CHMI) released its earnings results on Thursday. The real estate investment trust reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.02), FiscalAI reports. The firm had revenue of $8.57 million during the quarter, compared to analysts’ expectations 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 Stock Up 2.2%

Shares of CHMI traded up $0.05 during midday trading on Friday, reaching $2.36. The company 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 firm has a 50 day simple moving average of $2.54 and a 200-day simple moving average of $2.76. The stock has a market cap of $85.07 million, a PE ratio of 118.00 and a beta of 0.98.

Cherry Hill Mortgage Investment Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th were paid a $0.10 dividend. The ex-dividend date of this dividend 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 dividend payout ratio (DPR) is 2,000.00%.

Institutional Investors Weigh In On Cherry Hill Mortgage Investment

Several hedge funds and other institutional investors have recently bought and sold shares of CHMI. JPMorgan Chase & Co. raised its stake in Cherry Hill Mortgage Investment by 27,027.0% during the third quarter. JPMorgan Chase & Co. now owns 20,074 shares of the real estate investment trust’s stock worth $48,000 after purchasing an additional 20,000 shares during the period. Hudson Bay Capital Management LP acquired a new stake in shares of Cherry Hill Mortgage Investment during the 2nd quarter worth approximately $374,000. Corient Private Wealth LLC acquired a new stake in shares of Cherry Hill Mortgage Investment during the 2nd quarter worth approximately $908,000. Vident Advisory LLC raised its position in shares of Cherry Hill Mortgage Investment by 58.2% during the 2nd quarter. Vident Advisory LLC now owns 59,061 shares of the real estate investment trust’s stock valued at $161,000 after buying an additional 21,731 shares during the period. Finally, Glenview Trust co purchased a new position in Cherry Hill Mortgage Investment in the second quarter worth approximately $34,000. 18.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

About Cherry Hill Mortgage Investment

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.