Cherry Hill Mortgage Investment Co. (NYSE:CHMI) to Issue Quarterly Dividend of $0.15

Cherry Hill Mortgage Investment Co. (NYSE:CHMI) declared a quarterly dividend on Friday, March 14th, Wall Street Journal reports. Investors of record on Monday, March 31st will be paid 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 by an average of 24.8% per year 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 Trading Up 2.5 %

CHMI stock traded up $0.09 during midday trading on Friday, hitting $3.59. 306,036 shares of the company’s stock were exchanged, compared to its average volume of 236,452. The stock 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 12-month low of $2.50 and a 12-month high of $3.99. The firm has a 50 day moving average price of $3.26 and a 200-day moving average price of $3.19.

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CHMI. StockNews.com raised shares of Cherry Hill Mortgage Investment from a “sell” rating to a “hold” rating in a report on Friday, March 7th. B. Riley raised Cherry Hill Mortgage Investment to a “strong-buy” rating in a research note on Tuesday, January 7th. JMP Securities reaffirmed a “market perform” rating on shares of Cherry Hill Mortgage Investment in a research report on Thursday, January 23rd. Finally, Janney Montgomery Scott assumed coverage on shares of Cherry Hill Mortgage Investment in a research note on Thursday, January 2nd. They issued a “buy” rating and a $4.00 target price for the company.

About Cherry Hill Mortgage Investment

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.