Cherry Hill Mortgage Investment Co. (NYSE:CHMI) declared a quarterly dividend on Friday, September 17th, Zacks reports. Stockholders of record on Thursday, September 30th will be given a dividend of 0.27 per share by the real estate investment trust on Tuesday, October 26th. This represents a $1.08 annualized dividend and a dividend yield of 11.38%. The ex-dividend date of this dividend is Wednesday, September 29th.
Cherry Hill Mortgage Investment has decreased its dividend payment by 38.3% over the last three years and has raised its dividend annually for the last 1 consecutive years. Cherry Hill Mortgage Investment has a payout ratio of 97.3% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research analysts expect Cherry Hill Mortgage Investment to earn $1.38 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 78.3%.
Shares of Cherry Hill Mortgage Investment stock traded up $0.07 on Monday, hitting $9.49. 1,001 shares of the company traded hands, compared to its average volume of 223,304. The company has a 50-day moving average price of $9.13 and a 200 day moving average price of $9.62. Cherry Hill Mortgage Investment has a 12-month low of $8.31 and a 12-month high of $10.68. The company has a market cap of $162.40 million, a PE ratio of 20.93 and a beta of 1.25.
Several equities analysts have recently commented on the stock. JMP Securities cut shares of Cherry Hill Mortgage Investment from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 11th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Cherry Hill Mortgage Investment from a “sell” rating to a “hold” rating in a report on Tuesday, July 27th.
A hedge fund recently raised its stake in Cherry Hill Mortgage Investment stock. Morgan Stanley increased its holdings in Cherry Hill Mortgage Investment Co. (NYSE:CHMI) by 398.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,321 shares of the real estate investment trust’s stock after purchasing an additional 27,432 shares during the period. Morgan Stanley owned approximately 0.20% of Cherry Hill Mortgage Investment worth $338,000 at the end of the most recent reporting period. 31.08% of the stock is currently owned by institutional investors and hedge funds.
About Cherry Hill Mortgage Investment
Cherry Hill Mortgage Investment Corp. is a real estate finance company, which acquires, invests in and manages a portfolio of excess mortgage servicing rights. The company operates through the following segments: Investments in RMBS, Investments in Servicing Related Assets and All Other segment. It also invests in agency residential mortgage backed securities, prime jumbo mortgage loans and other residential mortgage assets.
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