B. Riley Has Bearish Forecast for CHMI FY2024 Earnings

Cherry Hill Mortgage Investment Co. (NYSE:CHMI) – Equities researchers at B. Riley dropped their FY2024 EPS estimates for shares of Cherry Hill Mortgage Investment in a note issued to investors on Monday, December 9th. B. Riley analyst M. Howlett now forecasts that the real estate investment trust will earn $0.38 per share for the year, down from their prior forecast of $0.63. The consensus estimate for Cherry Hill Mortgage Investment’s current full-year earnings is $0.38 per share. B. Riley also issued estimates for Cherry Hill Mortgage Investment’s Q4 2024 earnings at $0.09 EPS, FY2025 earnings at $0.62 EPS and FY2026 earnings at $0.69 EPS.

Separately, StockNews.com downgraded Cherry Hill Mortgage Investment from a “hold” rating to a “sell” rating in a report on Wednesday.

Cherry Hill Mortgage Investment Price Performance

CHMI stock opened at $2.66 on Thursday. The stock has a market capitalization of $84.11 million, a P/E ratio of -1.75 and a beta of 1.39. Cherry Hill Mortgage Investment has a 1-year low of $2.50 and a 1-year high of $4.39. The business has a fifty day moving average price of $3.04 and a 200-day moving average price of $3.45.

Cherry Hill Mortgage Investment (NYSE:CHMI) last posted its quarterly earnings results on Tuesday, November 12th. The real estate investment trust reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.06). Cherry Hill Mortgage Investment had a negative net margin of 60.97% and a positive return on equity of 15.18%. The firm had revenue of $14.33 million for the quarter. During the same quarter last year, the firm posted $0.16 EPS.

Institutional Trading of Cherry Hill Mortgage Investment

Large investors have recently modified their holdings of the company. Members Trust Co purchased a new position in Cherry Hill Mortgage Investment in the third quarter worth about $47,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Cherry Hill Mortgage Investment in the 3rd quarter worth approximately $49,000. Barclays PLC purchased a new position in shares of Cherry Hill Mortgage Investment in the third quarter worth approximately $52,000. Hudson Valley Investment Advisors Inc. ADV grew its position in Cherry Hill Mortgage Investment by 133.3% during the third quarter. Hudson Valley Investment Advisors Inc. ADV now owns 28,000 shares of the real estate investment trust’s stock valued at $102,000 after buying an additional 16,000 shares during the period. Finally, Wolverine Asset Management LLC purchased a new stake in Cherry Hill Mortgage Investment during the third quarter valued at approximately $665,000. Institutional investors own 18.49% of the company’s stock.

Cherry Hill Mortgage Investment Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 22.56%. The ex-dividend date is Tuesday, December 31st. Cherry Hill Mortgage Investment’s dividend payout ratio (DPR) is presently -39.47%.

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. It operates through Investments in RMBS (residential mortgage-backed securities) and Investments in Servicing Related Assets segments.