Cherry Hill Mortgage Investment Corporation (NYSE:CHMI) released its quarterly earnings data on Tuesday, August 8th. The real estate investment trust reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.02, Bloomberg Earnings reports. The business had revenue of $5.71 million for the quarter, compared to analyst estimates of $4.79 million. Cherry Hill Mortgage Investment Corporation had a return on equity of 9.49% and a net margin of 138.90%. The company’s revenue was up 8.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.53 EPS.
Cherry Hill Mortgage Investment Corporation (CHMI) opened at 18.61 on Friday. Cherry Hill Mortgage Investment Corporation has a 12 month low of $15.96 and a 12 month high of $19.43. The firm has a market cap of $236.50 million, a price-to-earnings ratio of 3.15 and a beta of 0.38. The firm’s 50-day moving average price is $18.87 and its 200-day moving average price is $18.17.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 25th. Shareholders of record on Friday, June 30th were given a dividend of $0.49 per share. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $1.96 dividend on an annualized basis and a yield of 10.53%. Cherry Hill Mortgage Investment Corporation’s dividend payout ratio (DPR) is presently 28.08%.
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A hedge fund recently raised its stake in Cherry Hill Mortgage Investment Corporation stock. The Manufacturers Life Insurance Company boosted its position in Cherry Hill Mortgage Investment Corporation (NYSE:CHMI) by 3,023.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,056 shares of the real estate investment trust’s stock after buying an additional 9,734 shares during the period. The Manufacturers Life Insurance Company owned about 0.08% of Cherry Hill Mortgage Investment Corporation worth $186,000 as of its most recent SEC filing. 52.00% of the stock is owned by hedge funds and other institutional investors.
Several brokerages recently commented on CHMI. Zacks Investment Research upgraded Cherry Hill Mortgage Investment Corporation from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a report on Tuesday, July 11th. Citigroup Inc. restated a “buy” rating and set a $19.00 price objective (down from $20.00) on shares of Cherry Hill Mortgage Investment Corporation in a report on Sunday, May 14th. Finally, ValuEngine downgraded Cherry Hill Mortgage Investment Corporation from a “strong-buy” rating to a “buy” rating in a report on Friday, June 2nd. Four investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Cherry Hill Mortgage Investment Corporation has a consensus rating of “Buy” and a consensus target price of $19.00.
About Cherry Hill Mortgage Investment Corporation
Cherry Hill Mortgage Investment Corporation is a residential real estate finance company. The Company is focused on acquiring, investing in and managing residential mortgage assets in the United States. Its principal objective is to generate attractive current yields and risk-adjusted total returns for its stockholders over the long term, primarily through dividend distributions and secondarily through capital appreciation.
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