Cherry Hill Mortgage Investment Co. to Post Q2 2024 Earnings of $0.15 Per Share, B. Riley Forecasts (NYSE:CHMI)

Cherry Hill Mortgage Investment Co. (NYSE:CHMI - Free Report) - Stock analysts at B. Riley decreased their Q2 2024 earnings per share estimates for shares of Cherry Hill Mortgage Investment in a research note issued on Wednesday, July 10th. B. Riley analyst M. Howlett now forecasts that the real estate investment trust will earn $0.15 per share for the quarter, down from their prior estimate of $0.18. B. Riley has a "Buy" rating and a $5.00 price target on the stock. The consensus estimate for Cherry Hill Mortgage Investment's current full-year earnings is $0.75 per share. B. Riley also issued estimates for Cherry Hill Mortgage Investment's Q3 2024 earnings at $0.14 EPS, FY2024 earnings at $0.63 EPS, FY2025 earnings at $0.90 EPS, Q1 2026 earnings at $0.23 EPS, Q2 2026 earnings at $0.24 EPS and FY2026 earnings at $0.95 EPS.

A number of other brokerages have also commented on CHMI. JMP Securities reaffirmed a "market perform" rating on shares of Cherry Hill Mortgage Investment in a report on Wednesday. StockNews.com upgraded shares of Cherry Hill Mortgage Investment from a "sell" rating to a "hold" rating in a research note on Friday, March 15th.

Cherry Hill Mortgage Investment Stock Up 1.4 %

Shares of CHMI traded up $0.05 during trading hours on Thursday, hitting $3.70. The company had a trading volume of 144,422 shares, compared to its average volume of 200,945. The business has a fifty day moving average of $3.69 and a 200-day moving average of $3.65. The firm has a market cap of $111.07 million, a price-to-earnings ratio of -7.25 and a beta of 1.50. Cherry Hill Mortgage Investment has a 12 month low of $2.77 and a 12 month high of $4.55.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in CHMI. Global Retirement Partners LLC bought a new position in shares of Cherry Hill Mortgage Investment in the fourth quarter worth about $41,000. Oxford Asset Management LLP bought a new position in Cherry Hill Mortgage Investment in the 4th quarter valued at approximately $89,000. Quadrature Capital Ltd acquired a new stake in Cherry Hill Mortgage Investment in the fourth quarter valued at approximately $98,000. Jump Financial LLC bought a new stake in shares of Cherry Hill Mortgage Investment during the fourth quarter worth $171,000. Finally, Penserra Capital Management LLC increased its holdings in shares of Cherry Hill Mortgage Investment by 14.5% during the third quarter. Penserra Capital Management LLC now owns 95,693 shares of the real estate investment trust's stock worth $355,000 after buying an additional 12,084 shares in the last quarter. 18.49% of the stock is owned by institutional investors.

Cherry Hill Mortgage Investment Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 16.22%. The ex-dividend date is Thursday, June 27th. Cherry Hill Mortgage Investment's payout ratio is currently -117.65%.

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.