Cherry Hill Mortgage Investment Co. (NYSE:CHMI – Free Report) – Wedbush issued their Q3 2023 earnings per share estimates for shares of Cherry Hill Mortgage Investment in a research report issued to clients and investors on Wednesday, August 9th. Wedbush analyst H. Coffey forecasts that the real estate investment trust will post earnings of $0.18 per share for the quarter. Wedbush currently has a “Outperform” rating on the stock. The consensus estimate for Cherry Hill Mortgage Investment’s current full-year earnings is $0.85 per share. Wedbush also issued estimates for Cherry Hill Mortgage Investment’s Q4 2023 earnings at $0.18 EPS, Q1 2024 earnings at $0.18 EPS, Q2 2024 earnings at $0.18 EPS, Q3 2024 earnings at $0.18 EPS, Q4 2024 earnings at $0.18 EPS and FY2025 earnings at $0.75 EPS.
CHMI has been the topic of a number of other research reports. StockNews.com upgraded Cherry Hill Mortgage Investment to a “sell” rating in a report on Friday, July 7th. TheStreet downgraded Cherry Hill Mortgage Investment from a “c-” rating to a “d+” rating in a research note on Friday, May 26th. Finally, B. Riley lowered their target price on Cherry Hill Mortgage Investment from $7.00 to $6.00 in a research note on Thursday, June 1st.
Cherry Hill Mortgage Investment Stock Down 1.7 %
Shares of Cherry Hill Mortgage Investment stock opened at $4.12 on Thursday. The stock’s fifty day moving average is $4.61 and its 200-day moving average is $5.42. The firm has a market capitalization of $106.30 million, a PE ratio of -6.98 and a beta of 1.23. Cherry Hill Mortgage Investment has a 12-month low of $4.08 and a 12-month high of $7.24.
Institutional Investors Weigh In On Cherry Hill Mortgage Investment
Several large investors have recently modified their holdings of the stock. BlackRock Inc. grew its stake in shares of Cherry Hill Mortgage Investment by 0.8% in the 1st quarter. BlackRock Inc. now owns 359,448 shares of the real estate investment trust’s stock valued at $1,984,000 after purchasing an additional 2,769 shares during the period. Geode Capital Management LLC boosted its position in Cherry Hill Mortgage Investment by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 175,232 shares of the real estate investment trust’s stock valued at $1,016,000 after buying an additional 2,953 shares during the last quarter. State Street Corp boosted its position in Cherry Hill Mortgage Investment by 6.5% in the 1st quarter. State Street Corp now owns 51,982 shares of the real estate investment trust’s stock valued at $414,000 after buying an additional 3,172 shares during the last quarter. Royal Bank of Canada boosted its position in Cherry Hill Mortgage Investment by 16.3% in the 3rd quarter. Royal Bank of Canada now owns 26,262 shares of the real estate investment trust’s stock valued at $129,000 after buying an additional 3,688 shares during the last quarter. Finally, Penserra Capital Management LLC lifted its stake in shares of Cherry Hill Mortgage Investment by 29.0% in the 1st quarter. Penserra Capital Management LLC now owns 32,846 shares of the real estate investment trust’s stock valued at $253,000 after purchasing an additional 7,380 shares during the period. 15.83% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In other Cherry Hill Mortgage Investment news, President Jeffrey B. Lown acquired 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 20th. The stock was acquired at an average price of $4.79 per share, with a total value of $28,740.00. Following the transaction, the president now owns 21,507 shares of the company’s stock, valued at $103,018.53. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.10% of the stock is owned by insiders.
Cherry Hill Mortgage Investment Cuts Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 31st. Investors of record on Friday, June 30th were given a dividend of $0.15 per share. The ex-dividend date was Thursday, June 29th. This represents a $0.60 annualized dividend and a dividend yield of 14.56%. Cherry Hill Mortgage Investment’s dividend payout ratio is presently -101.69%.
Cherry Hill Mortgage Investment Company Profile
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 (residential mortgage-backed securities), Investments in Servicing Related Assets, and All Other segments.
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