Cherry Hill Mortgage Investment Corp (CHMI) Posts Quarterly Earnings Results, Beats Estimates By $0.14 EPS

Cherry Hill Mortgage Investment Corp (NYSE:CHMI) issued its quarterly earnings results on Tuesday. The real estate investment trust reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.14. Cherry Hill Mortgage Investment Corp had a net margin of 26.82% and a return on equity of 10.45%. The firm had revenue of $3.65 million for the quarter, compared to analyst estimates of $8.50 million. During the same period in the previous year, the business earned $0.55 EPS. The company’s revenue was up 3.4% compared to the same quarter last year.

Shares of Cherry Hill Mortgage Investment Corp (NYSE:CHMI) traded up 0.62% during mid-day trading on Friday, hitting $17.94. 346,346 shares of the company traded hands. The firm has a 50-day moving average of $17.41 and a 200-day moving average of $17.83. Cherry Hill Mortgage Investment Corp has a one year low of $14.94 and a one year high of $19.14. The stock has a market capitalization of $135.00 million, a price-to-earnings ratio of 5.44 and a beta of 0.34.

Earnings History for Cherry Hill Mortgage Investment Corp (NYSE:CHMI)

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 25th. Investors of record on Monday, March 20th were issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 10.99%. The ex-dividend date of this dividend was Thursday, March 16th. Cherry Hill Mortgage Investment Corp’s payout ratio is 179.82%.

In other Cherry Hill Mortgage Investment Corp news, CFO Martin Levine bought 2,000 shares of the business’s stock in a transaction on Friday, March 24th. The stock was purchased at an average price of $16.48 per share, for a total transaction of $32,960.00. Following the completion of the transaction, the chief financial officer now directly owns 16,600 shares of the company’s stock, valued at $273,568. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders have purchased 3,750 shares of company stock valued at $61,835 in the last 90 days. 14.90% of the stock is currently owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in the stock. Morgan Stanley raised its stake in shares of Cherry Hill Mortgage Investment Corp by 20.3% in the first quarter. Morgan Stanley now owns 94,430 shares of the real estate investment trust’s stock valued at $1,614,000 after buying an additional 15,941 shares during the last quarter. Geode Capital Management LLC increased its position in Cherry Hill Mortgage Investment Corp by 40.7% in the first quarter. Geode Capital Management LLC now owns 67,165 shares of the real estate investment trust’s stock valued at $1,147,000 after buying an additional 19,441 shares during the period. Vanguard Group Inc. increased its position in Cherry Hill Mortgage Investment Corp by 6.8% in the first quarter. Vanguard Group Inc. now owns 454,854 shares of the real estate investment trust’s stock valued at $7,773,000 after buying an additional 29,050 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Cherry Hill Mortgage Investment Corp by 68.1% in the first quarter. Bank of New York Mellon Corp now owns 21,471 shares of the real estate investment trust’s stock valued at $367,000 after buying an additional 8,701 shares during the period. Institutional investors own 47.60% of the company’s stock.

Several equities research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Cherry Hill Mortgage Investment Corp from a “strong sell” rating to a “buy” rating and set a $21.00 price target on the stock in a research note on Wednesday, March 22nd. Citigroup Inc reiterated a “buy” rating and issued a $19.00 price target (down from $20.00) on shares of Cherry Hill Mortgage Investment Corp in a research note on Sunday, May 14th. Finally, FBR & Co reiterated an “outperform” rating and issued a $18.50 price target (down from $21.50) on shares of Cherry Hill Mortgage Investment Corp in a research note on Tuesday, March 28th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $18.80.

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Cherry Hill Mortgage Investment Corp Company Profile

Cherry Hill Mortgage Investment Corporation is a residential real estate finance company. The Company is focused on acquiring, investing in and managing residential mortgage assets in the United States. Its principal objective is to generate attractive current yields and risk-adjusted total returns for its stockholders over the long term, primarily through dividend distributions and secondarily through capital appreciation.

5 Day Chart for NYSE:CHMI

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