Cherry Hill Mortgage Investment Co. (CHMI) To Go Ex-Dividend on March 31st

Cherry Hill Mortgage Investment Co. (NYSE:CHMI) 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.

Cherry Hill Mortgage Investment (NYSE:CHMI) last announced its earnings results on Thursday, March 6th. The real estate investment trust reported $0.10 EPS for the quarter, meeting the consensus estimate of $0.10. Cherry Hill Mortgage Investment had a negative net margin of 60.97% and a positive return on equity of 15.18%. The company had revenue of $0.66 million during the quarter, compared to the consensus estimate of $1.50 million. As a group, sell-side analysts predict that Cherry Hill Mortgage Investment will post 0.38 EPS for the current fiscal year.

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.

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.