Cherry Hill Mortgage Investment Co. (CHMI) to Issue Quarterly Dividend of $0.15 on July 31st

Cherry Hill Mortgage Investment Co. (NYSE:CHMI) announced a quarterly dividend on Thursday, June 13th, Wall Street Journal reports. Shareholders of record on Friday, June 28th will be paid a dividend of 0.15 per share by the real estate investment trust on Wednesday, July 31st. This represents a $0.60 dividend on an annualized basis and a yield of 15.65%. The ex-dividend date is Friday, June 28th.

Cherry Hill Mortgage Investment has a payout ratio of 65.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Cherry Hill Mortgage Investment to earn $0.92 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 65.2%.

Cherry Hill Mortgage Investment Trading Up 1.7 %

Shares of NYSE:CHMI opened at $3.84 on Friday. The business’s fifty day moving average price is $3.55 and its two-hundred day moving average price is $3.69. Cherry Hill Mortgage Investment has a one year low of $2.77 and a one year high of $5.20.

Analyst Upgrades and Downgrades

CHMI has been the topic of a number of analyst reports. B. Riley reiterated a “buy” rating and set a $5.00 target price (down previously from $5.50) on shares of Cherry Hill Mortgage Investment in a report on Thursday, March 21st. StockNews.com upgraded Cherry Hill Mortgage Investment from a “sell” rating to a “hold” rating in a report on Friday, March 15th.

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.