Cherry Hill Mortgage Investment Co. (CHMI) To Go Ex-Dividend on March 31st

Cherry Hill Mortgage Investment Co. (NYSE:CHMI) declared a quarterly dividend on Thursday, March 13th, Wall Street Journal reports. Investors of record on Monday, March 31st will be given a dividend of 0.15 per share by the real estate investment trust on Wednesday, April 30th. This represents a $0.60 dividend on an annualized basis and a yield of 17.32%. The ex-dividend date is Monday, March 31st.

Cherry Hill Mortgage Investment has raised its dividend by an average of 24.8% per year over the last three years. Cherry Hill Mortgage Investment has a payout ratio of 96.8% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect Cherry Hill Mortgage Investment to earn $0.59 per share next year, which means the company may not be able to cover its $0.60 annual dividend with an expected future payout ratio of 101.7%.

Cherry Hill Mortgage Investment Stock Performance

Shares of NYSE:CHMI opened at $3.47 on Friday. The stock has a market capitalization of $109.58 million, a price-to-earnings ratio of -2.28 and a beta of 1.43. Cherry Hill Mortgage Investment has a 1-year low of $2.50 and a 1-year high of $3.99. The company has a 50 day moving average price of $3.44 and a 200 day moving average price of $3.19.

Cherry Hill Mortgage Investment (NYSE:CHMI) last released its quarterly earnings data on Thursday, March 6th. The real estate investment trust reported $0.10 earnings per share for the quarter, hitting the consensus estimate of $0.10. The business had revenue of $0.66 million during the quarter, compared to analyst estimates of $1.50 million. Cherry Hill Mortgage Investment had a positive return on equity of 15.18% and a negative net margin of 60.97%. On average, sell-side analysts expect that Cherry Hill Mortgage Investment will post 0.38 EPS for the current fiscal year.

Insider Activity

In other Cherry Hill Mortgage Investment news, Director Sharon L. Cook sold 13,000 shares of the stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $3.64, for a total value of $47,320.00. Following the completion of the sale, the director now owns 19,513 shares in the company, valued at $71,027.32. This represents a 39.98 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.40% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Janney Montgomery Scott initiated coverage on Cherry Hill Mortgage Investment in a report on Thursday, January 2nd. They set a “buy” rating and a $4.00 price objective on the stock. JMP Securities reissued a “market perform” rating on shares of Cherry Hill Mortgage Investment in a research report on Thursday, January 23rd. B. Riley upgraded shares of Cherry Hill Mortgage Investment to a “strong-buy” rating in a research report on Tuesday, January 7th. Finally, StockNews.com upgraded shares of Cherry Hill Mortgage Investment from a “sell” rating to a “hold” rating in a research report on Friday, March 7th.

Cherry Hill Mortgage Investment Company Profile

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.