Cherry Hill Mortgage Investment Corporation (NYSE:CHMI) Stock Has Consensus Target Price of $3.00

Key Points

• Analysts maintain a cautious outlook: Four of five analysts rate Cherry Hill Mortgage Investment “Hold,” while one recommends “Buy.” The consensus 12-month price target is $3.00, compared with the stock’s reported price of $2.73.
• Quarterly earnings exceeded expectations: CHMI reported adjusted earnings of $0.15 per share, ahead of the $0.13 consensus estimate, although revenue of $7.88 million fell short of the $10.75 million forecast.
• The dividend offers a high yield but exceeds earnings: The company declared a quarterly dividend of $0.10 per share, or $0.40 annualized, representing a 14.6% yield and a payout ratio of 222.22%.

Shares of Cherry Hill Mortgage Investment Corporation (NYSE:CHMI - Get Free Report) have been given a consensus recommendation of "Hold" by the five analysts that are currently covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12 month target price among brokers that have covered the stock in the last year is $3.00.

Several research analysts recently commented on CHMI shares. Weiss Ratings upgraded Cherry Hill Mortgage Investment from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, September 2nd. Wall Street Zen downgraded Cherry Hill Mortgage Investment from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 1st. B. Riley Financial lowered Cherry Hill Mortgage Investment from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 10th. Finally, Citizens Jmp cut Cherry Hill Mortgage Investment from a "market outperform" rating to a "hold" rating in a report on Tuesday, August 11th.

Institutional Investors Weigh In On Cherry Hill Mortgage Investment

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. bought a new stake in shares of Cherry Hill Mortgage Investment in the 2nd quarter worth about $1,104,000. Corient Private Wealth LP bought a new position in Cherry Hill Mortgage Investment during the 2nd quarter valued at about $397,000. Glenview Trust Co purchased a new stake in Cherry Hill Mortgage Investment in the 2nd quarter worth about $29,000. Gables Capital Management Inc. purchased a new stake in Cherry Hill Mortgage Investment in the 2nd quarter worth about $46,000. Finally, Money Concepts Capital Corp bought a new stake in Cherry Hill Mortgage Investment in the first quarter worth about $68,000. Hedge funds and other institutional investors own 18.49% of the company's stock.

Cherry Hill Mortgage Investment Stock Down 0.2%

Cherry Hill Mortgage Investment stock opened at $2.73 on Tuesday. Cherry Hill Mortgage Investment has a 52-week low of $2.17 and a 52-week high of $2.98. The firm's fifty day moving average is $2.73 and its 200 day moving average is $2.58. The company has a market cap of $101.06 million, a price-to-earnings ratio of 15.20 and a beta of 0.97.

Cherry Hill Mortgage Investment (NYSE:CHMI - Get Free Report) last issued its quarterly earnings data on Monday, August 10th. The real estate investment trust reported $0.15 EPS for the quarter, topping analysts' consensus estimates of $0.13 by $0.02. Cherry Hill Mortgage Investment had a net margin of 26.43% and a return on equity of 21.74%. The business had revenue of $7.88 million during the quarter, compared to analysts' expectations of $10.75 million. On average, equities research analysts anticipate that Cherry Hill Mortgage Investment will post 0.59 earnings per share for the current fiscal year.

Cherry Hill Mortgage Investment Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Wednesday, September 30th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 14.6%. The ex-dividend date of this dividend is Wednesday, September 30th. Cherry Hill Mortgage Investment's payout ratio is presently 222.22%.

Cherry Hill Mortgage Investment Company Profile

Cherry Hill Mortgage Investment Corporation NYSE: CHMI is a mortgage real estate investment trust that focuses on investing in residential mortgage assets. The company seeks to generate income primarily through a portfolio of mortgage-related investments and related financing activities.

Its investments have included agency mortgage-backed securities, which are backed by mortgages guaranteed or issued by government-sponsored enterprises, as well as mortgage servicing rights and other residential mortgage assets.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.