Cherry Hill Mortgage Investment (NYSE:CHMI) Issues Quarterly Earnings Results

Key Points

• Cherry Hill Mortgage Investment reported quarterly EPS of $0.14, missing analysts’ consensus estimate of $0.15 by $0.01. The REIT posted a 26.43% net margin and 21.74% return on equity.
• Shares rose 1.7% to $2.63 during Thursday trading, while the company announced a quarterly dividend of $0.10 per share, representing a 15.2% annualized yield.
• Analyst sentiment is mixed but leans cautious: CHMI has an average rating of “Hold” and a consensus price target of $3.00, following several recent rating downgrades.

Cherry Hill Mortgage Investment (NYSE:CHMI - Get Free Report) released its earnings results on Thursday. The real estate investment trust reported $0.14 earnings per share for the quarter, missing analysts' consensus estimates of $0.15 by ($0.01), Zacks reports. Cherry Hill Mortgage Investment had a net margin of 26.43% and a return on equity of 21.74%.

Cherry Hill Mortgage Investment Stock Up 1.7%

Shares of CHMI traded up $0.04 during midday trading on Thursday, hitting $2.63. The company's stock had a trading volume of 123,666 shares, compared to its average volume of 234,681. Cherry Hill Mortgage Investment has a one year low of $2.17 and a one year high of $2.98. The stock has a market capitalization of $97.36 million, a price-to-earnings ratio of 14.64 and a beta of 1.01. The company's fifty day simple moving average is $2.75 and its two-hundred day simple moving average is $2.59.

Cherry Hill Mortgage Investment Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th will be paid a $0.10 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $0.40 annualized dividend and a dividend yield of 15.2%. Cherry Hill Mortgage Investment's dividend payout ratio (DPR) is presently 222.22%.

Wall Street Analyst Weigh In

A number of research firms recently commented on CHMI. Weiss Ratings downgraded Cherry Hill Mortgage Investment from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, October 2nd. Citizens Jmp cut shares of Cherry Hill Mortgage Investment from a "market outperform" rating to a "hold" rating in a research report on Tuesday, August 11th. Wall Street Zen downgraded shares of Cherry Hill Mortgage Investment from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 1st. Finally, B. Riley Financial lowered shares of Cherry Hill Mortgage Investment from a "strong-buy" rating to a "hold" rating in a report on Monday, August 10th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $3.00.

Cherry Hill Mortgage Investment Company Profile

Cherry Hill Mortgage Investment Corporation NYSE: CHMI is a real estate investment trust focused on residential mortgage assets. The company seeks to generate income primarily by investing in and managing mortgage-related investments rather than originating conventional consumer loans.

Its investment portfolio has included agency residential mortgage-backed securities, non-agency residential mortgage-backed securities, mortgage servicing rights and other assets associated with the U.S.

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