Cherry Hill Mortgage Investment Corporation (CHMI) To Go Ex-Dividend on June 30th

Cherry Hill Mortgage Investment Corporation (NYSE:CHMI) announced a quarterly dividend on Monday, June 16th, Wall Street Journal reports. Investors of record on Monday, June 30th will be given a dividend of 0.15 per share by the real estate investment trust on Thursday, July 31st. This represents a $0.60 dividend on an annualized basis and a yield of 20.73%. The ex-dividend date is Monday, June 30th.

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 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 Stock Down 1.5%

NYSE:CHMI opened at $2.90 on Wednesday. The company has a market cap of $94.55 million, a P/E ratio of -5.26 and a beta of 0.98. The firm’s 50 day moving average is $2.90 and its two-hundred day moving average is $3.04. Cherry Hill Mortgage Investment has a fifty-two week low of $2.34 and a fifty-two week high of $3.99.

Cherry Hill Mortgage Investment (NYSE:CHMI) last released its quarterly earnings data on Tuesday, May 6th. The real estate investment trust reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.06. Cherry Hill Mortgage Investment had a positive return on equity of 14.65% and a negative net margin of 11.62%. The business had revenue of ($3.05) million during the quarter, compared to the consensus estimate of $2.39 million. Research analysts forecast that Cherry Hill Mortgage Investment will post 0.38 earnings per share for the current fiscal year.

Insider Buying and Selling at Cherry Hill Mortgage Investment

In other news, Director Sharon L. Cook sold 13,000 shares of Cherry Hill Mortgage Investment stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $3.64, for a total transaction of $47,320.00. Following the sale, the director now owns 19,513 shares in the company, valued at $71,027.32. This trade represents a 39.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Cherry Hill Mortgage Investment

An institutional investor recently raised its position in Cherry Hill Mortgage Investment stock. Jane Street Group LLC raised its position in shares of Cherry Hill Mortgage Investment Corporation (NYSE:CHMI) by 262.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 93,672 shares of the real estate investment trust’s stock after buying an additional 67,832 shares during the quarter. Jane Street Group LLC owned about 0.29% of Cherry Hill Mortgage Investment worth $309,000 at the end of the most recent quarter. 18.49% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of Cherry Hill Mortgage Investment from a “sell” rating to a “hold” rating in a research note on Friday, March 7th.

About Cherry Hill Mortgage Investment

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.