Cherry Hill Mortgage Investment Co. (NYSE:CHMI) Plans $0.15 Quarterly Dividend

Cherry Hill Mortgage Investment Co. (NYSE:CHMI) announced 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 annualized dividend and a yield of 16.72%. The ex-dividend date is Monday, March 31st.

Cherry Hill Mortgage Investment has raised its dividend payment by an average of 24.8% annually over the last three years. Cherry Hill Mortgage Investment has a payout ratio of 93.8% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities 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

NYSE CHMI opened at $3.59 on Friday. The stock has a 50-day moving average of $3.26 and a 200 day moving average of $3.19. The company has a market capitalization of $113.47 million, a price-to-earnings ratio of -2.36 and a beta of 1.42. Cherry Hill Mortgage Investment has a one year low of $2.50 and a one year high of $3.99.

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

Wall Street Analysts Forecast Growth

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