Brokerages Expect Cherry Hill Mortgage Investment Corp (NYSE:CHMI) Will Post Quarterly Sales of $5.22 Million

Brokerages expect that Cherry Hill Mortgage Investment Corp (NYSE:CHMI) will report $5.22 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Cherry Hill Mortgage Investment’s earnings, with estimates ranging from $4.05 million to $6.39 million. Cherry Hill Mortgage Investment reported sales of $6.07 million in the same quarter last year, which indicates a negative year-over-year growth rate of 14%. The firm is expected to report its next quarterly earnings report on Wednesday, November 6th.

On average, analysts expect that Cherry Hill Mortgage Investment will report full-year sales of $22.61 million for the current fiscal year, with estimates ranging from $19.91 million to $25.30 million. For the next year, analysts anticipate that the business will post sales of $19.73 million, with estimates ranging from $18.07 million to $21.38 million. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Cherry Hill Mortgage Investment.

Cherry Hill Mortgage Investment (NYSE:CHMI) last posted its earnings results on Thursday, August 8th. The real estate investment trust reported $0.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.02. The business had revenue of $5.51 million for the quarter, compared to analyst estimates of $6.08 million. Cherry Hill Mortgage Investment had a negative net margin of 89.15% and a positive return on equity of 13.23%.

A number of equities research analysts have recently issued reports on CHMI shares. TheStreet cut shares of Cherry Hill Mortgage Investment from a “b-” rating to a “c” rating in a research note on Thursday, May 30th. ValuEngine cut shares of Cherry Hill Mortgage Investment from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 24th. Finally, Zacks Investment Research raised shares of Cherry Hill Mortgage Investment from a “strong sell” rating to a “hold” rating in a research note on Friday, August 9th.

Several institutional investors have recently modified their holdings of CHMI. BlackRock Inc. increased its stake in shares of Cherry Hill Mortgage Investment by 18.9% in the 2nd quarter. BlackRock Inc. now owns 1,668,628 shares of the real estate investment trust’s stock worth $26,699,000 after acquiring an additional 265,591 shares in the last quarter. Acadian Asset Management LLC grew its position in Cherry Hill Mortgage Investment by 104.0% during the 1st quarter. Acadian Asset Management LLC now owns 393,721 shares of the real estate investment trust’s stock valued at $6,779,000 after purchasing an additional 200,703 shares during the last quarter. Vanguard Group Inc. grew its position in Cherry Hill Mortgage Investment by 17.4% during the 2nd quarter. Vanguard Group Inc. now owns 984,661 shares of the real estate investment trust’s stock valued at $15,755,000 after purchasing an additional 145,809 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in Cherry Hill Mortgage Investment by 14.7% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 471,529 shares of the real estate investment trust’s stock valued at $8,120,000 after purchasing an additional 60,551 shares during the last quarter. Finally, Millennium Management LLC grew its position in Cherry Hill Mortgage Investment by 21.6% during the 4th quarter. Millennium Management LLC now owns 223,336 shares of the real estate investment trust’s stock valued at $3,917,000 after purchasing an additional 39,682 shares during the last quarter. Institutional investors own 59.00% of the company’s stock.

CHMI stock traded up $0.05 during midday trading on Friday, reaching $13.29. The company had a trading volume of 228,122 shares, compared to its average volume of 208,188. Cherry Hill Mortgage Investment has a 1 year low of $13.01 and a 1 year high of $19.35. The company has a market capitalization of $223.93 million, a P/E ratio of 5.91 and a beta of 0.35. The firm has a 50-day moving average price of $15.34 and a 200-day moving average price of $16.97.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 30th. Investors of record on Friday, June 28th were paid a $0.49 dividend. The ex-dividend date was Thursday, June 27th. This represents a $1.96 annualized dividend and a dividend yield of 14.75%. Cherry Hill Mortgage Investment’s payout ratio is 87.11%.

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. The company operates through Investments in RMBS and Investments in Servicing Related Assets segments. It manages a portfolio of servicing related assets, residential mortgage-backed securities (RMBS), and prime residential mortgage loans, as well as other residential mortgage assets.

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

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