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

Cherry Hill Mortgage Investment (NYSE:CHMI) released its earnings results on Thursday. The real estate investment trust reported $0.14 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.14, Zacks reports. The firm had revenue of $6.56 million during the quarter, compared to analyst estimates of $11.20 million. Cherry Hill Mortgage Investment had a net margin of 26.43% and a return on equity of 21.74%.

Cherry Hill Mortgage Investment Stock Down 0.9%

Shares of CHMI stock traded down $0.03 on Friday, hitting $2.62. The company had a trading volume of 102,015 shares, compared to its average volume of 234,003. The company has a 50-day moving average price of $2.74 and a 200-day moving average price of $2.59. The firm has a market cap of $96.62 million, a P/E ratio of 14.53 and a beta of 1.01. Cherry Hill Mortgage Investment has a twelve month low of $2.17 and a twelve month high of $2.98.

Cherry Hill Mortgage Investment Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, September 30th will be given a dividend of $0.10 per share. The ex-dividend date is Wednesday, September 30th. This represents a $0.40 dividend on an annualized basis and a yield of 15.3%. Cherry Hill Mortgage Investment’s payout ratio is currently 222.22%.

Analysts Set New Price Targets

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

About Cherry Hill Mortgage Investment

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.