Cherry Hill Mortgage Investment Corp (NYSE:CHMI) declared a 0.49000 dividend on Thursday, September 5th, Wall Street Journal reports. Stockholders of record on Monday, September 30th will be paid a dividend of 0.40 per share by the real estate investment trust on Tuesday, October 29th. This represents a dividend yield of 15.4%. The ex-dividend date of this dividend is Friday, September 27th.
Cherry Hill Mortgage Investment has decreased its dividend by an average of 0.7% annually over the last three years. Cherry Hill Mortgage Investment has a payout ratio of 79.2% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities analysts expect Cherry Hill Mortgage Investment to earn $1.77 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 90.4%.
Shares of CHMI stock traded up $0.09 on Wednesday, hitting $13.63. 1,992 shares of the company’s stock traded hands, compared to its average volume of 237,028. Cherry Hill Mortgage Investment has a one year low of $11.81 and a one year high of $19.35. The company’s fifty day simple moving average is $13.17 and its 200 day simple moving average is $15.90. The stock has a market capitalization of $230.18 million, a price-to-earnings ratio of 6.04 and a beta of 0.43.
Several equities analysts recently commented on the stock. TheStreet lowered shares of Cherry Hill Mortgage Investment from a “b-” rating to a “c” rating in a report on Thursday, May 30th. Zacks Investment Research raised shares of Cherry Hill Mortgage Investment from a “strong sell” rating to a “hold” rating in a report on Friday, August 9th. JMP Securities reduced their target price on shares of Cherry Hill Mortgage Investment from $20.00 to $16.00 and set a “market outperform” rating on the stock in a report on Thursday, September 5th. Finally, ValuEngine cut shares of Cherry Hill Mortgage Investment from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $18.33.
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. The company operates through Investments in RMBS and Investments in Servicing Related Assets segments. It manages a portfolio of servicing related assets, residential mortgage-backed securities (RMBS), and prime residential mortgage loans, as well as other residential mortgage assets.
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