Brokerages Anticipate Cherry Hill Mortgage Investment Corp (NYSE:CHMI) Will Post Quarterly Sales of $4.73 Million

Equities research analysts expect Cherry Hill Mortgage Investment Corp (NYSE:CHMI) to announce $4.73 million in sales for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Cherry Hill Mortgage Investment’s earnings, with the highest sales estimate coming in at $5.41 million and the lowest estimate coming in at $4.05 million. Cherry Hill Mortgage Investment reported sales of $6.07 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 22.1%. The company is scheduled to announce its next earnings report on Wednesday, November 6th.

On average, analysts expect that Cherry Hill Mortgage Investment will report full-year sales of $21.35 million for the current fiscal year, with estimates ranging from $19.91 million to $22.79 million. For the next financial year, analysts expect that the company will post sales of $20.32 million, with estimates ranging from $18.07 million to $22.56 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 issued its quarterly earnings data on Thursday, August 8th. The real estate investment trust reported $0.52 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.02. The company had revenue of $5.51 million for the quarter, compared to the consensus estimate 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%.

CHMI has been the topic of a number of research analyst reports. Zacks Investment Research upgraded shares of Cherry Hill Mortgage Investment from a “strong sell” rating to a “hold” rating in a research report on Friday, August 9th. JMP Securities lowered their price objective on shares of Cherry Hill Mortgage Investment from $20.00 to $16.00 and set a “market outperform” rating on the stock in a research report on Thursday, September 5th. Finally, ValuEngine upgraded shares of Cherry Hill Mortgage Investment from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $18.33.

Cherry Hill Mortgage Investment stock traded up $0.10 during midday trading on Thursday, reaching $13.04. 71,507 shares of the company traded hands, compared to its average volume of 156,633. The firm has a market capitalization of $218.64 million, a price-to-earnings ratio of 5.80 and a beta of 0.43. The business has a 50 day moving average of $13.00 and a two-hundred day moving average of $15.31. Cherry Hill Mortgage Investment has a 12 month low of $11.81 and a 12 month high of $19.35.

The business also recently disclosed a 0.49000 dividend, which will be paid on Tuesday, October 29th. Investors of record on Monday, September 30th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, September 27th. This represents a yield of 15.4%. Cherry Hill Mortgage Investment’s dividend payout ratio (DPR) is 71.11%.

Hedge funds have recently made changes to their positions in the business. Wedbush Securities Inc. purchased a new stake in Cherry Hill Mortgage Investment in the 3rd quarter worth $411,000. Nisa Investment Advisors LLC increased its holdings in Cherry Hill Mortgage Investment by 973.5% in the 3rd quarter. Nisa Investment Advisors LLC now owns 21,190 shares of the real estate investment trust’s stock worth $278,000 after acquiring an additional 19,216 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. increased its holdings in Cherry Hill Mortgage Investment by 35.1% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 20,400 shares of the real estate investment trust’s stock worth $327,000 after acquiring an additional 5,300 shares in the last quarter. Summit Global Investments increased its holdings in Cherry Hill Mortgage Investment by 13.9% in the 2nd quarter. Summit Global Investments now owns 44,200 shares of the real estate investment trust’s stock worth $707,000 after acquiring an additional 5,400 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in Cherry Hill Mortgage Investment by 12.7% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 44,383 shares of the real estate investment trust’s stock worth $710,000 after acquiring an additional 5,007 shares in the last quarter. 54.88% of the stock is owned by institutional investors and hedge funds.

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 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.

See Also: Why are analyst ratings important in trading stocks?

Get a free copy of the Zacks research report on Cherry Hill Mortgage Investment (CHMI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Cherry Hill Mortgage Investment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cherry Hill Mortgage Investment and related companies with MarketBeat.com's FREE daily email newsletter.