FY2023 EPS Estimates for Cherry Hill Mortgage Investment Co. Reduced by Analyst (NYSE:CHMI)

Cherry Hill Mortgage Investment Co. (NYSE:CHMI) – Equities researchers at B. Riley dropped their FY2023 earnings estimates for shares of Cherry Hill Mortgage Investment in a note issued to investors on Wednesday, November 8th. B. Riley analyst M. Howlett now anticipates that the real estate investment trust will post earnings of $0.73 per share for the year, down from their prior estimate of $0.74. B. Riley currently has a “Buy” rating and a $5.50 price target on the stock. The consensus estimate for Cherry Hill Mortgage Investment’s current full-year earnings is $0.74 per share.

A number of other brokerages also recently weighed in on CHMI. StockNews.com raised shares of Cherry Hill Mortgage Investment to a “sell” rating in a report on Monday, October 2nd. Wedbush reissued an “outperform” rating on shares of Cherry Hill Mortgage Investment in a report on Wednesday, August 9th.

Cherry Hill Mortgage Investment Stock Performance

Shares of NYSE:CHMI opened at $3.49 on Thursday. The company’s 50-day moving average is $3.54 and its 200 day moving average is $4.26. The company has a market capitalization of $94.16 million, a P/E ratio of -5.92 and a beta of 1.29. Cherry Hill Mortgage Investment has a fifty-two week low of $2.77 and a fifty-two week high of $7.24.

Institutional Investors Weigh In On Cherry Hill Mortgage Investment

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CHMI. CI Private Wealth LLC bought a new stake in Cherry Hill Mortgage Investment in the 4th quarter valued at about $1,566,000. Marshall Wace LLP increased its position in shares of Cherry Hill Mortgage Investment by 955.1% during the fourth quarter. Marshall Wace LLP now owns 188,086 shares of the real estate investment trust’s stock valued at $1,091,000 after buying an additional 170,260 shares during the period. Hudson Bay Capital Management LP bought a new stake in shares of Cherry Hill Mortgage Investment during the first quarter valued at about $888,000. Millennium Management LLC increased its position in shares of Cherry Hill Mortgage Investment by 586.7% during the fourth quarter. Millennium Management LLC now owns 164,276 shares of the real estate investment trust’s stock valued at $953,000 after buying an additional 140,352 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of Cherry Hill Mortgage Investment by 15.9% during the third quarter. Vanguard Group Inc. now owns 852,082 shares of the real estate investment trust’s stock valued at $4,184,000 after buying an additional 117,191 shares during the period. 13.71% of the stock is currently owned by institutional investors.

Cherry Hill Mortgage Investment Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 31st. Investors of record on Friday, September 29th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 17.19%. The ex-dividend date was Thursday, September 28th. Cherry Hill Mortgage Investment’s dividend payout ratio is currently -101.69%.

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. The company operates through Investments in RMBS (residential mortgage-backed securities), Investments in Servicing Related Assets, and All Other segments.