Cherry Hill Mortgage Investment Co. (NYSE:CHMI) to Issue Quarterly Dividend of $0.27

Cherry Hill Mortgage Investment Co. (NYSE:CHMI – Get Rating) declared a quarterly dividend on Thursday, March 16th, Zacks reports. Stockholders of record on Friday, March 31st will be given a dividend of 0.27 per share by the real estate investment trust on Tuesday, April 25th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 19.71%. The ex-dividend date is Thursday, March 30th.

Cherry Hill Mortgage Investment has decreased its dividend payment by an average of 15.3% per year over the last three years. Cherry Hill Mortgage Investment has a payout ratio of 100.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Cherry Hill Mortgage Investment to earn $1.07 per share next year, which means the company may not be able to cover its $1.08 annual dividend with an expected future payout ratio of 100.9%.

Cherry Hill Mortgage Investment Trading Up 2.2 %

CHMI stock traded up $0.12 during trading on Friday, hitting $5.48. 539,936 shares of the company’s stock were exchanged, compared to its average volume of 423,817. The stock has a market capitalization of $136.44 million, a price-to-earnings ratio of 6.94 and a beta of 1.26. Cherry Hill Mortgage Investment has a 52-week low of $4.58 and a 52-week high of $8.33. The business has a 50-day moving average price of $6.53 and a two-hundred day moving average price of $6.04.

Institutional Trading of Cherry Hill Mortgage Investment

Several institutional investors and hedge funds have recently made changes to their positions in CHMI. First Republic Investment Management Inc. acquired a new position in Cherry Hill Mortgage Investment during the second quarter worth approximately $69,000. Verition Fund Management LLC acquired a new position in shares of Cherry Hill Mortgage Investment in the 4th quarter valued at $79,000. Marshall Wace LLP purchased a new stake in Cherry Hill Mortgage Investment in the 3rd quarter valued at $87,000. Goldman Sachs Group Inc. acquired a new stake in Cherry Hill Mortgage Investment during the 2nd quarter worth $99,000. Finally, Jane Street Group LLC purchased a new position in Cherry Hill Mortgage Investment during the 4th quarter worth $105,000. 16.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Cherry Hill Mortgage Investment from a “hold” rating to a “sell” rating in a research report on Friday, March 10th.

Cherry Hill Mortgage Investment Company Profile

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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.