Cherry Hill Mortgage Investment Corporation (CHMI) to Issue Quarterly Dividend of $0.10 on July 31st

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 dividend yield of 16.8%. The ex-dividend date is Tuesday, June 30th.

Cherry Hill Mortgage Investment has decreased its dividend payment by an average of 0.2%annually over the last three years and has raised its dividend every year for the last 1 years. Cherry Hill Mortgage Investment has a dividend payout ratio of 62.5% meaning its dividend is sufficiently covered by earnings. 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 Stock Up 0.6%

Shares of NYSE CHMI opened at $2.39 on Friday. Cherry Hill Mortgage Investment has a 52 week low of $2.17 and a 52 week high of $3.04. The firm’s fifty day moving average is $2.52 and its 200 day moving average is $2.58. The company has a market cap of $87.62 million, a price-to-earnings ratio of 21.68 and a beta of 0.93.

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 company had revenue of $4.64 million for the quarter, compared to the consensus estimate of $10.30 million. Cherry Hill Mortgage Investment had a net margin of 18.88% and a return on equity of 17.95%. Equities research analysts anticipate that Cherry Hill Mortgage Investment will post 0.57 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CHMI. Wall Street Zen raised shares of Cherry Hill Mortgage Investment from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 23rd. Weiss Ratings reissued a “sell (d)” rating on shares of Cherry Hill Mortgage Investment in a research report on Friday, March 27th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average 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.