Cherry Hill Mortgage Investment Corporation to Issue Quarterly Dividend of $0.10 (NYSE:CHMI)

Cherry Hill Mortgage Investment Corporation (NYSE:CHMI) announced a quarterly dividend on Thursday, March 12th. Shareholders of record on Tuesday, March 31st will be paid a dividend of 0.10 per share by the real estate investment trust on Thursday, April 30th. This represents a c) dividend on an annualized basis and a yield of 15.1%. The ex-dividend date of this dividend is Tuesday, March 31st.

Cherry Hill Mortgage Investment has decreased its dividend payment by an average of 0.2%per year over the last three years and has increased its dividend annually for the last 1 consecutive years. Cherry Hill Mortgage Investment has a payout ratio of 62.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Cherry Hill Mortgage Investment to earn $0.59 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 67.8%.

Cherry Hill Mortgage Investment Stock Down 1.3%

Shares of CHMI opened at $2.65 on Friday. Cherry Hill Mortgage Investment has a fifty-two week low of $2.17 and a fifty-two week high of $3.67. The company’s fifty day moving average is $2.63 and its two-hundred day moving average is $2.57. The firm has a market cap of $97.18 million, a PE ratio of -20.35 and a beta of 1.03.

Cherry Hill Mortgage Investment (NYSE:CHMI) last announced its earnings results on Wednesday, February 25th. The real estate investment trust reported $0.11 EPS for the quarter, hitting the consensus estimate of $0.11. Cherry Hill Mortgage Investment had a net margin of 7.28% and a return on equity of 16.21%. The business had revenue of $11.76 million during the quarter, compared to the consensus estimate of $2.45 million. As a group, equities research analysts anticipate that Cherry Hill Mortgage Investment will post 0.38 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently weighed in on CHMI shares. Citizens Jmp lifted their target price on Cherry Hill Mortgage Investment from $2.75 to $3.00 and gave the stock a “market outperform” rating in a research report on Thursday, January 22nd. Weiss Ratings reiterated a “sell (d)” rating on shares of Cherry Hill Mortgage Investment in a report on Monday, December 29th. Credit Suisse Group set a $3.00 price objective on Cherry Hill Mortgage Investment in a research report on Thursday, January 22nd. Finally, Citigroup reissued an “outperform” rating on shares of Cherry Hill Mortgage Investment in a research report on Thursday, January 22nd. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Cherry Hill Mortgage Investment currently has a consensus rating of “Hold” and a consensus price target of $3.00.

Cherry Hill Mortgage Investment Company Profile

Cherry Hill Mortgage Investment Corporation is a real estate investment trust that focuses on acquiring, financing and managing residential mortgage loans and mortgage-related securities. The company’s portfolio consists primarily of agency and non-agency residential mortgage loans secured by single-family residences, together with mortgage-backed securities issued or guaranteed by Fannie Mae, Freddie Mac and Ginnie Mae.

CHMI employs active portfolio management strategies intended to generate current income and total return for its shareholders.