Cherry Hill Mortgage Investment Corp (CHMI) Expected to Announce Quarterly Sales of $6.27 Million

Analysts expect Cherry Hill Mortgage Investment Corp (NYSE:CHMI) to report sales of $6.27 million for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Cherry Hill Mortgage Investment’s earnings, with the highest sales estimate coming in at $6.69 million and the lowest estimate coming in at $5.84 million. Cherry Hill Mortgage Investment posted sales of $4.70 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 33.4%. The company is expected to report its next earnings report on Wednesday, August 14th.

On average, analysts expect that Cherry Hill Mortgage Investment will report full year sales of $24.20 million for the current fiscal year, with estimates ranging from $23.09 million to $25.30 million. For the next year, analysts expect that the firm will report sales of $21.19 million, with estimates ranging from $20.99 million to $21.38 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Cherry Hill Mortgage Investment.

Cherry Hill Mortgage Investment (NYSE:CHMI) last announced its quarterly earnings data on Thursday, May 9th. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.06. The company had revenue of $6.23 million for the quarter, compared to analysts’ expectations of $5.23 million. Cherry Hill Mortgage Investment had a positive return on equity of 12.36% and a negative net margin of 29.80%.

A number of research firms have recently commented on CHMI. ValuEngine cut Cherry Hill Mortgage Investment from a “hold” rating to a “sell” rating in a research report on Wednesday, April 3rd. Zacks Investment Research raised shares of Cherry Hill Mortgage Investment from a “sell” rating to a “hold” rating in a research note on Tuesday, March 12th. Finally, TheStreet lowered shares of Cherry Hill Mortgage Investment from a “b-” rating to a “c” rating in a research note on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating and three have assigned a buy rating to the stock. Cherry Hill Mortgage Investment presently has a consensus rating of “Buy” and an average target price of $19.33.

CHMI stock traded down $0.21 during midday trading on Friday, reaching $16.32. The stock had a trading volume of 11,183 shares, compared to its average volume of 185,600. The firm has a market capitalization of $275.86 million, a price-to-earnings ratio of 7.26 and a beta of 0.38. Cherry Hill Mortgage Investment has a 52-week low of $16.14 and a 52-week high of $19.35.

Several hedge funds and other institutional investors have recently bought and sold shares of CHMI. Synovus Financial Corp bought a new stake in shares of Cherry Hill Mortgage Investment in the 4th quarter worth about $56,000. BNP Paribas Arbitrage SA boosted its holdings in shares of Cherry Hill Mortgage Investment by 534.5% in the 1st quarter. BNP Paribas Arbitrage SA now owns 3,344 shares of the real estate investment trust’s stock valued at $58,000 after buying an additional 2,817 shares during the last quarter. Advisor Group Inc. boosted its holdings in shares of Cherry Hill Mortgage Investment by 675.9% in the 4th quarter. Advisor Group Inc. now owns 4,182 shares of the real estate investment trust’s stock valued at $73,000 after buying an additional 3,643 shares during the last quarter. Citigroup Inc. boosted its holdings in shares of Cherry Hill Mortgage Investment by 78.9% in the 1st quarter. Citigroup Inc. now owns 4,770 shares of the real estate investment trust’s stock valued at $82,000 after buying an additional 2,104 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY boosted its holdings in shares of Cherry Hill Mortgage Investment by 356.7% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 5,741 shares of the real estate investment trust’s stock valued at $101,000 after buying an additional 4,484 shares during the last quarter. 59.50% of the stock is owned by institutional investors and hedge funds.

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 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.

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