Cherry Hill Mortgage Investment Corporation (NYSE:CHMI) Declares $0.10 Quarterly Dividend

Key Points

• Cherry Hill Mortgage Investment Corporation declared a quarterly dividend of $0.10 per share, payable on October 31, with a dividend yield of 13.2%.
• The company has a payout ratio of 93.8%, which may indicate potential challenges covering dividends if earnings decline; projected earnings suggest a future payout ratio of 101.7%.
• Cherry Hill's recent stock performance saw a share price of $3.03 with a market capitalization of $109.02 million, reflecting a negative PE ratio of -5.82.

Cherry Hill Mortgage Investment Corporation (NYSE:CHMI - Get Free Report) announced a quarterly dividend on Monday, September 15th, RTT News reports. Stockholders of record on Tuesday, September 30th will be given a dividend of 0.10 per share by the real estate investment trust on Friday, October 31st. This represents a c) annualized dividend and a dividend yield of 13.2%.

Cherry Hill Mortgage Investment has a payout ratio of 93.8% meaning its dividend is currently covered by earnings, but may not be in the future if the company's earnings decline. 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

CHMI traded up $0.06 during midday trading on Monday, hitting $3.03. The company had a trading volume of 317,273 shares, compared to its average volume of 226,909. The company has a market capitalization of $109.02 million, a PE ratio of -5.82 and a beta of 0.98. Cherry Hill Mortgage Investment has a twelve month low of $2.34 and a twelve month high of $3.81. The firm's 50-day simple moving average is $2.83 and its 200-day simple moving average is $2.96.

Cherry Hill Mortgage Investment (NYSE:CHMI - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The real estate investment trust reported $0.10 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.02). Cherry Hill Mortgage Investment had a positive return on equity of 15.55% and a negative net margin of 14.28%.The business had revenue of $6.04 million for the quarter, compared to analyst estimates of $2.19 million. As a group, sell-side analysts anticipate that Cherry Hill Mortgage Investment will post 0.38 EPS for the current fiscal year.

Hedge Funds Weigh In On Cherry Hill Mortgage Investment

Institutional investors and hedge funds have recently modified their holdings of the stock. Wealth Preservation Advisors LLC bought a new stake in Cherry Hill Mortgage Investment during the first quarter worth about $33,000. Glenview Trust co bought a new stake in Cherry Hill Mortgage Investment during the second quarter worth about $34,000. Banco BTG Pactual S.A. bought a new stake in Cherry Hill Mortgage Investment during the first quarter worth about $36,000. Envestnet Asset Management Inc. bought a new stake in Cherry Hill Mortgage Investment during the second quarter worth about $45,000. Finally, Ritholtz Wealth Management bought a new stake in Cherry Hill Mortgage Investment during the second quarter worth about $66,000. 18.49% of the stock is currently owned by institutional investors and hedge funds.

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.

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