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

Key Points

• Cherry Hill Mortgage Investment declared a quarterly dividend of $0.10 per share, payable October 30 to shareholders of record on September 30. The dividend implies a 13.8% annualized yield, with a 62.5% payout ratio.
• The company reported quarterly EPS of $0.15, beating analyst expectations of $0.13, although revenue of $7.88 million fell short of the $10.75 million consensus estimate. Analysts expect approximately $0.59–$0.60 in EPS for the year or next year, supporting continued dividend coverage.
• CHMI shares opened at $2.90, while hedge funds and other institutional investors own 18.49% of the company; several institutions recently increased or initiated positions.

Cherry Hill Mortgage Investment Corporation (NYSE:CHMI - Get Free Report) declared a quarterly dividend on Thursday, September 10th. Investors of record on Wednesday, September 30th will be given a dividend of 0.10 per share by the real estate investment trust on Friday, October 30th. This represents a c) annualized dividend and a dividend yield of 13.8%. The ex-dividend date is Wednesday, September 30th.

Cherry Hill Mortgage Investment has decreased its dividend payment by an average of 0.2%annually over the last three years and has increased its dividend annually for the last 1 consecutive years. Cherry Hill Mortgage Investment has a payout ratio of 62.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Cherry Hill Mortgage Investment to earn $0.60 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 66.7%.

Cherry Hill Mortgage Investment Trading Down 0.5%

Shares of Cherry Hill Mortgage Investment stock opened at $2.90 on Friday. The company has a fifty day moving average price of $2.60 and a 200 day moving average price of $2.56. Cherry Hill Mortgage Investment has a twelve month low of $2.17 and a twelve month high of $3.04. The stock has a market cap of $107.34 million, a price-to-earnings ratio of 16.14 and a beta of 0.97.

Cherry Hill Mortgage Investment (NYSE:CHMI - Get Free Report) last announced its quarterly earnings results on Monday, August 10th. The real estate investment trust reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.02. The firm had revenue of $7.88 million during the quarter, compared to the consensus estimate of $10.75 million. Cherry Hill Mortgage Investment had a return on equity of 21.74% and a net margin of 26.43%. Analysts forecast that Cherry Hill Mortgage Investment will post 0.59 earnings per share for the current year.

Institutional Trading of Cherry Hill Mortgage Investment

A number of hedge funds and other institutional investors have recently modified their holdings of CHMI. Jane Street Group LLC boosted its holdings in Cherry Hill Mortgage Investment by 262.5% in the first quarter. Jane Street Group LLC now owns 93,672 shares of the real estate investment trust's stock valued at $309,000 after purchasing an additional 67,832 shares during the last quarter. Envestnet Asset Management Inc. acquired a new position in shares of Cherry Hill Mortgage Investment in the 2nd quarter valued at approximately $45,000. Glenview Trust co purchased a new position in shares of Cherry Hill Mortgage Investment during the 2nd quarter valued at approximately $34,000. Hudson Bay Capital Management LP acquired a new stake in shares of Cherry Hill Mortgage Investment during the second quarter worth approximately $374,000. Finally, Vident Advisory LLC increased its stake in shares of Cherry Hill Mortgage Investment by 58.2% in the second quarter. Vident Advisory LLC now owns 59,061 shares of the real estate investment trust's stock worth $161,000 after buying an additional 21,731 shares during the last quarter. 18.49% of the stock is owned by hedge funds and other institutional investors.

Cherry Hill Mortgage Investment Company Profile

Cherry Hill Mortgage Investment Corporation is a real estate investment trust that focuses on acquiring, financing and managing residential mortgage loans and mortgage-related securities. The company's portfolio consists primarily of agency and non-agency residential mortgage loans secured by single-family residences, together with mortgage-backed securities issued or guaranteed by Fannie Mae, Freddie Mac and Ginnie Mae.

CHMI employs active portfolio management strategies intended to generate current income and total return for its shareholders.

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