B. Riley Has Negative Outlook of CHMI FY2024 Earnings

Cherry Hill Mortgage Investment Co. (NYSE:CHMI) – Equities researchers at B. Riley lowered their FY2024 earnings per share 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 of $0.38 per share 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 $0.38 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) last announced its quarterly earnings data on Tuesday, November 12th. The real estate investment trust reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.06). Cherry Hill Mortgage Investment had a positive return on equity of 15.18% and a negative net margin of 60.97%. The firm had revenue of $14.33 million during the quarter. During the same period in the previous year, the business posted $0.16 earnings per share.

Separately, StockNews.com lowered shares of Cherry Hill Mortgage Investment from a “hold” rating to a “sell” rating in a research report on Wednesday.

Cherry Hill Mortgage Investment Trading Up 1.9 %

NYSE:CHMI opened at $2.66 on Thursday. Cherry Hill Mortgage Investment has a 12-month low of $2.50 and a 12-month high of $4.39. The stock has a 50-day moving average price of $3.04 and a 200 day moving average price of $3.45. The stock has a market capitalization of $84.11 million, a P/E ratio of -1.75 and a beta of 1.39.

Institutional Investors Weigh In On Cherry Hill Mortgage Investment

Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in 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 valued at $4,843,000 after acquiring an additional 36,039 shares during the last quarter. Forum Financial Management LP purchased a new position in shares of Cherry Hill Mortgage Investment during the 2nd quarter worth about $1,038,000. Renaissance Technologies LLC grew its holdings in Cherry Hill Mortgage Investment by 7.9% during the 2nd 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. Members Trust Co purchased a new stake in Cherry Hill Mortgage Investment in the 3rd quarter worth about $47,000. Finally, Hudson Valley Investment Advisors Inc. ADV lifted its stake in Cherry Hill Mortgage Investment by 133.3% in the third quarter. Hudson Valley Investment Advisors Inc. ADV now owns 28,000 shares of the real estate investment trust’s stock worth $102,000 after purchasing an additional 16,000 shares during the last quarter. 18.49% of the stock is owned by institutional investors.

Cherry Hill Mortgage Investment Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 22.56%. Cherry Hill Mortgage Investment’s 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.