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

Cherry Hill Mortgage Investment Corporation (NYSE:CHMI) declared a quarterly dividend on Thursday, June 11th. Investors of record on Tuesday, June 30th will be paid a dividend of 0.10 per share by the real estate investment trust on Friday, July 31st. This represents a c) annualized dividend and a yield of 16.9%. The ex-dividend date is Tuesday, June 30th.

Cherry Hill Mortgage Investment has decreased its dividend by an average of 0.2%per year over the last three years and has raised 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. Research analysts expect Cherry Hill Mortgage Investment to earn $0.60 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 66.7%.

Cherry Hill Mortgage Investment Price Performance

Shares of CHMI stock opened at $2.37 on Friday. The stock has a market cap of $86.89 million, a P/E ratio of 21.50 and a beta of 0.93. Cherry Hill Mortgage Investment has a one year low of $2.17 and a one year high of $3.04. The stock has a fifty day moving average price of $2.52 and a 200 day moving average price of $2.58.

Cherry Hill Mortgage Investment (NYSE:CHMI) last issued its earnings results on Thursday, May 7th. The real estate investment trust reported $0.14 EPS for the quarter, topping the consensus estimate of $0.12 by $0.02. The firm had revenue of $4.64 million during the quarter, compared to analysts’ expectations of $10.30 million. Cherry Hill Mortgage Investment had a return on equity of 17.95% and a net margin of 18.88%. Equities research analysts anticipate that Cherry Hill Mortgage Investment will post 0.57 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CHMI. Summit Financial LLC lifted its holdings in shares of Cherry Hill Mortgage Investment by 106.1% during the fourth quarter. Summit Financial LLC now owns 1,010,876 shares of the real estate investment trust’s stock valued at $2,679,000 after acquiring an additional 520,291 shares during the period. Corient Private Wealth LLC bought a new position in shares of Cherry Hill Mortgage Investment during the second quarter valued at $908,000. PVG Asset Management Corp lifted its holdings in shares of Cherry Hill Mortgage Investment by 264.7% during the fourth quarter. PVG Asset Management Corp now owns 201,260 shares of the real estate investment trust’s stock valued at $513,000 after acquiring an additional 146,080 shares during the period. Hudson Bay Capital Management LP bought a new position in shares of Cherry Hill Mortgage Investment during the second quarter valued at $374,000. Finally, Two Sigma Investments LP lifted its holdings in shares of Cherry Hill Mortgage Investment by 92.8% during the third quarter. Two Sigma Investments LP now owns 260,759 shares of the real estate investment trust’s stock valued at $623,000 after acquiring an additional 125,499 shares during the period. 18.49% of the stock is owned by institutional investors.

About Cherry Hill Mortgage Investment

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.