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

Cherry Hill Mortgage Investment Corporation (NYSE:CHMI - Get Free Report) announced a quarterly dividend on Monday, June 16th, Wall Street Journal reports. Stockholders of record on Monday, June 30th will be paid a dividend of 0.15 per share by the real estate investment trust on Thursday, July 31st. This represents a $0.60 annualized dividend and a dividend yield of 20.58%. The ex-dividend date is Monday, June 30th.

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 decline. 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 Up 0.5%

NYSE CHMI traded up $0.02 during mid-day trading on Thursday, hitting $2.92. The stock had a trading volume of 232,643 shares, compared to its average volume of 264,823. The company has a 50 day simple moving average of $2.91 and a 200 day simple moving average of $3.04. The company has a market cap of $95.20 million, a price-to-earnings ratio of -5.30 and a beta of 0.98. Cherry Hill Mortgage Investment has a 52-week low of $2.34 and a 52-week high of $3.99.

Cherry Hill Mortgage Investment (NYSE:CHMI - Get Free Report) last posted its earnings results on Tuesday, May 6th. The real estate investment trust reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.06. Cherry Hill Mortgage Investment had a positive return on equity of 14.65% and a negative net margin of 11.62%. The company had revenue of ($3.05) million for the quarter, compared to analyst estimates of $2.39 million. As a group, equities analysts anticipate that Cherry Hill Mortgage Investment will post 0.38 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Insider Transactions at Cherry Hill Mortgage Investment

In related 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 of the company's stock, valued at $71,027.32. This trade represents a 39.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate 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 lifted its position in shares of Cherry Hill Mortgage Investment Corporation (NYSE:CHMI - Free Report) by 262.5% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 93,672 shares of the real estate investment trust's stock after buying an additional 67,832 shares during the period. Jane Street Group LLC owned 0.29% of Cherry Hill Mortgage Investment worth $309,000 as of its most recent SEC filing. Institutional investors own 18.49% of the company's stock.

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.