Cherry Hill Mortgage Investment Co. (NYSE:CHMI – Get Free Report) declared a quarterly dividend on Thursday, March 13th, Wall Street Journal reports. Investors of record on Monday, March 31st will be paid a dividend of 0.15 per share by the real estate investment trust on Wednesday, April 30th. This represents a $0.60 annualized dividend and a yield of 16.72%. The ex-dividend date of this dividend is Monday, March 31st.
Cherry Hill Mortgage Investment has raised its dividend by an average of 24.8% annually over the last three years. 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 fall. 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 Trading Up 2.5 %
NYSE CHMI opened at $3.59 on Friday. The business has a fifty day simple moving average of $3.26 and a 200 day simple moving average of $3.19. Cherry Hill Mortgage Investment has a 12 month low of $2.50 and a 12 month high of $3.99. The firm has a market capitalization of $113.47 million, a P/E ratio of -2.36 and a beta of 1.42.
Analysts Set New Price Targets
Several research analysts have weighed in on CHMI shares. B. Riley raised Cherry Hill Mortgage Investment to a “strong-buy” rating in a research report on Tuesday, January 7th. JMP Securities reaffirmed a “market perform” rating on shares of Cherry Hill Mortgage Investment in a research report on Thursday, January 23rd. Janney Montgomery Scott began coverage on Cherry Hill Mortgage Investment in a research report on Thursday, January 2nd. They set a “buy” rating and a $4.00 price target on the stock. Finally, StockNews.com raised shares of Cherry Hill Mortgage Investment from a “sell” rating to a “hold” rating in a report on Friday, March 7th.
Read Our Latest Stock Report on CHMI
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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