Equities Analysts Issue Forecasts for CHMI FY2024 Earnings

Cherry Hill Mortgage Investment Co. (NYSE:CHMI - Free Report) - Equities research analysts at B. Riley dropped their FY2024 earnings per share (EPS) estimates for shares of Cherry Hill Mortgage Investment in a research report issued on Monday, December 9th. B. Riley analyst M. Howlett now forecasts that the real estate investment trust will post earnings per share of $0.38 for the year, down from their prior estimate of $0.63. The consensus estimate for Cherry Hill Mortgage Investment's current full-year earnings is $0.63 per share. B. Riley also issued estimates for Cherry Hill Mortgage Investment's Q4 2024 earnings at $0.09 EPS, FY2025 earnings at $0.62 EPS and FY2026 earnings at $0.69 EPS.

Cherry Hill Mortgage Investment (NYSE:CHMI - Get Free Report) last released its earnings results on Tuesday, November 12th. The real estate investment trust reported $0.08 earnings per share for the quarter, missing analysts' consensus estimates of $0.14 by ($0.06). Cherry Hill Mortgage Investment had a negative net margin of 60.97% and a positive return on equity of 15.18%. The business had revenue of $14.33 million during the quarter. During the same period in the prior year, the business posted $0.16 earnings per share.

Separately, StockNews.com downgraded Cherry Hill Mortgage Investment from a "hold" rating to a "sell" rating in a research note on Wednesday.

Cherry Hill Mortgage Investment Trading Down 1.5 %

Shares of NYSE CHMI traded down $0.04 during mid-day trading on Thursday, hitting $2.61. The company had a trading volume of 247,434 shares, compared to its average volume of 206,855. The firm has a 50-day simple moving average of $3.06 and a two-hundred day simple moving average of $3.45. Cherry Hill Mortgage Investment has a one year low of $2.50 and a one year high of $4.39. The company has a market capitalization of $82.54 million, a PE ratio of -1.72 and a beta of 1.39.

Institutional Investors Weigh In On Cherry Hill Mortgage Investment

Several hedge funds have recently bought and sold shares of the company. Forum Financial Management LP acquired a new stake in shares of Cherry Hill Mortgage Investment during the 2nd quarter worth about $1,038,000. Wolverine Asset Management LLC bought a new stake in shares of Cherry Hill Mortgage Investment during the third quarter worth approximately $665,000. Penserra Capital Management LLC boosted its holdings in shares of Cherry Hill Mortgage Investment by 22.9% during the third quarter. Penserra Capital Management LLC now owns 265,787 shares of the real estate investment trust's stock worth $964,000 after acquiring an additional 49,600 shares during the period. Renaissance Technologies LLC grew its position in shares of Cherry Hill Mortgage Investment by 7.9% in the second quarter. Renaissance Technologies LLC now owns 507,684 shares of the real estate investment trust's stock valued at $1,843,000 after purchasing an additional 37,300 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Cherry Hill Mortgage Investment by 2.7% during the first quarter. Vanguard Group Inc. now owns 1,368,084 shares of the real estate investment trust's stock worth $4,843,000 after purchasing an additional 36,039 shares during the period. 18.49% of the stock is currently owned by institutional investors and hedge funds.

Cherry Hill Mortgage Investment Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 22.99%. The ex-dividend date was Monday, September 30th. Cherry Hill Mortgage Investment's dividend payout ratio is currently -39.47%.

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.