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

Cherry Hill Mortgage Investment Co. (NYSE:CHMI - Get Free Report) declared a quarterly dividend on Monday, June 16th, Wall Street Journal reports. Shareholders of record on Monday, June 30th will be given a dividend of 0.15 per share by the real estate investment trust on Thursday, July 31st. This represents a $0.60 dividend on an annualized basis and a yield of 20.37%. The ex-dividend date is Monday, June 30th.

Cherry Hill Mortgage Investment has a dividend 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 tumble. Equities 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 Down 0.2%

Cherry Hill Mortgage Investment stock traded down $0.01 during trading hours on Monday, hitting $2.95. 197,813 shares of the company traded hands, compared to its average volume of 292,575. Cherry Hill Mortgage Investment has a 1-year low of $2.34 and a 1-year high of $3.99. The firm's 50-day simple moving average is $2.89 and its two-hundred day simple moving average is $3.04. The firm has a market cap of $96.18 million, a P/E ratio of -1.94 and a beta of 0.98.

Cherry Hill Mortgage Investment (NYSE:CHMI - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.11 by $0.06. Cherry Hill Mortgage Investment had a negative net margin of 60.97% and a positive return on equity of 15.18%. The business had revenue of ($3.05) million for the quarter, compared to analyst estimates of $2.39 million. On average, equities research analysts predict that Cherry Hill Mortgage Investment will post 0.38 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of Cherry Hill Mortgage Investment from a "sell" rating to a "hold" rating in a report on Friday, March 7th.

Insider Buying and Selling at Cherry Hill Mortgage Investment

In other news, Director Sharon L. Cook sold 13,000 shares of the stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $3.64, for a total transaction of $47,320.00. Following the sale, the director now owns 19,513 shares in the company, valued at approximately $71,027.32. This represents a 39.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.50% of the company's stock.

Institutional Investors Weigh In On Cherry Hill Mortgage Investment

A hedge fund recently raised its stake in Cherry Hill Mortgage Investment stock. Jane Street Group LLC increased its stake in Cherry Hill Mortgage Investment Co. (NYSE:CHMI - Free Report) by 262.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 93,672 shares of the real estate investment trust's stock after buying an additional 67,832 shares during the quarter. Jane Street Group LLC owned approximately 0.29% of Cherry Hill Mortgage Investment worth $309,000 as of its most recent SEC filing. 18.49% of the stock is owned by institutional investors and hedge funds.

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.

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