B. Riley Has Pessimistic View of CHMI FY2024 Earnings

Cherry Hill Mortgage Investment Co. (NYSE:CHMI) – Investment analysts at B. Riley reduced their FY2024 earnings estimates for Cherry Hill Mortgage Investment in a research report issued to clients and investors on Monday, December 9th. B. Riley analyst M. Howlett now expects that the real estate investment trust will post earnings per share of $0.38 for the year, down from their prior estimate 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 downgraded Cherry Hill Mortgage Investment from a “hold” rating to a “sell” rating in a research report on Wednesday.

Cherry Hill Mortgage Investment Trading Down 1.5 %

Shares of NYSE:CHMI opened at $2.61 on Thursday. The company has a market cap of $82.54 million, a price-to-earnings ratio of -1.72 and a beta of 1.39. Cherry Hill Mortgage Investment has a 12 month low of $2.50 and a 12 month high of $4.39. The company has a 50-day moving average price of $3.06 and a 200 day moving average price of $3.45.

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

Institutional Trading of Cherry Hill Mortgage Investment

Large investors have recently added to or reduced their stakes in the company. Members Trust Co acquired a new position in Cherry Hill Mortgage Investment during the third quarter worth $47,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Cherry Hill Mortgage Investment in the 3rd quarter worth approximately $49,000. Barclays PLC purchased a new stake in shares of Cherry Hill Mortgage Investment in the third quarter valued at approximately $52,000. Hudson Valley Investment Advisors Inc. ADV lifted its position in Cherry Hill Mortgage Investment by 133.3% during the third quarter. Hudson Valley Investment Advisors Inc. ADV now owns 28,000 shares of the real estate investment trust’s stock worth $102,000 after buying an additional 16,000 shares in the last quarter. Finally, Wolverine Asset Management LLC acquired a new position in Cherry Hill Mortgage Investment during the third quarter worth $665,000. Hedge funds and other institutional investors 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.