B. Riley Issues Pessimistic Forecast for CHMI Earnings

Cherry Hill Mortgage Investment Co. (NYSE:CHMI) – Investment analysts at B. Riley dropped their FY2024 earnings estimates for Cherry Hill Mortgage Investment in a report released on Monday, December 9th. B. Riley analyst M. Howlett now forecasts that the real estate investment trust will post earnings of $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 $0.63 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 cut Cherry Hill Mortgage Investment from a “hold” rating to a “sell” rating in a research note on Wednesday.

Cherry Hill Mortgage Investment Stock Down 1.5 %

Shares of NYSE:CHMI opened at $2.61 on Thursday. Cherry Hill Mortgage Investment has a fifty-two week low of $2.50 and a fifty-two week high of $4.39. The company has a market cap of $82.54 million, a PE ratio of -1.72 and a beta of 1.39. The company’s 50-day moving average price is $3.06 and its 200 day moving average price is $3.45.

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Forum Financial Management LP increased its stake in Cherry Hill Mortgage Investment by 4.4% during the 3rd quarter. Forum Financial Management LP now owns 298,600 shares of the real estate investment trust’s stock worth $1,084,000 after purchasing an additional 12,600 shares in the last quarter. Members Trust Co bought a new position in shares of Cherry Hill Mortgage Investment during the third quarter worth about $47,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Cherry Hill Mortgage Investment in the 3rd quarter valued at approximately $49,000. Barclays PLC bought a new position in shares of Cherry Hill Mortgage Investment during the 3rd quarter worth approximately $52,000. Finally, Hudson Valley Investment Advisors Inc. ADV raised its holdings in shares of Cherry Hill Mortgage Investment by 133.3% in 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 purchasing an additional 16,000 shares during the last quarter. Institutional investors and hedge funds own 18.49% of the company’s stock.

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.