Cherry Hill Mortgage Investment Corporation, a residential real estate finance company, acquires, invests in, and manages residential mortgage assets in the United States. The company operates through Investments in RMBS (residential mortgage-backed securities), Investments in Servicing Related Assets, and All Other segments. It manages a portfolio of servicing related assets and RMBS. Cherry Hill Mortgage Investment Corporation qualifies as a real estate investment trust for federal income tax purposes. The company generally would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its stockholders. Cherry Hill Mortgage Investment Corporation was incorporated in 2012 and is based in Farmingdale, New Jersey.
Wall Street Analyst Weigh In
Separately, B. Riley lowered their target price on shares of Cherry Hill Mortgage Investment from $10.50 to $8.00 and set a "buy" rating on the stock in a research note on Thursday, July 21st.
Cherry Hill Mortgage Investment Price Performance
Shares of CHMI Stock traded down $0.03 during trading hours on Friday, reaching $6.86. 241,421 shares of the company were exchanged, compared to its average volume of 168,940. Cherry Hill Mortgage Investment has a fifty-two week low of $6.06 and a fifty-two week high of $9.55. The stock's fifty day moving average is $6.74 and its two-hundred day moving average is $7.20. The company has a market cap of $134.80 million, a price-to-earnings ratio of 19.60 and a beta of 1.14.
Cherry Hill Mortgage Investment (NYSE:CHMI - Get Rating) last announced its earnings results on Monday, May 9th. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.33 by $0.01. Cherry Hill Mortgage Investment had a net margin of 71.33% and a return on equity of 21.56%. During the same quarter last year, the business earned $0.21 EPS. On average, research analysts anticipate that Cherry Hill Mortgage Investment will post 1.19 earnings per share for the current year.
Cherry Hill Mortgage Investment Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 26th. Investors of record on Thursday, June 30th were issued a $0.27 dividend. The ex-dividend date of this dividend was Wednesday, June 29th. This represents a $1.08 annualized dividend and a yield of 15.74%. Cherry Hill Mortgage Investment's dividend payout ratio is currently 308.58%.