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

Cherry Hill Mortgage Investment Co. (NYSE:CHMI – Get Rating) announced 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 annualized dividend and a dividend yield of 19.71%. The ex-dividend date of this dividend is Thursday, March 30th.

Cherry Hill Mortgage Investment has decreased its dividend by an average of 15.3% per year over the last three years. Cherry Hill Mortgage Investment has a dividend 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. 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 Stock Up 2.2 %

NYSE CHMI opened at $5.48 on Friday. The stock has a market capitalization of $136.44 million, a P/E 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 firm has a 50-day moving average price of $6.53 and a 200 day moving average price of $6.04.

Institutional Investors Weigh In On Cherry Hill Mortgage Investment

A number of hedge funds and other institutional investors have recently bought and sold shares of CHMI. CI Private Wealth LLC acquired a new position in shares of Cherry Hill Mortgage Investment during the 4th quarter worth $1,566,000. Jane Street Group LLC acquired a new position in Cherry Hill Mortgage Investment during the fourth quarter worth about $105,000. Schonfeld Strategic Advisors LLC acquired a new position in Cherry Hill Mortgage Investment during the fourth quarter worth about $147,000. Millennium Management LLC increased its holdings in Cherry Hill Mortgage Investment by 586.7% in the fourth quarter. Millennium Management LLC now owns 164,276 shares of the real estate investment trust’s stock valued at $953,000 after buying an additional 140,352 shares in the last quarter. Finally, Morgan Stanley lifted its position in shares of Cherry Hill Mortgage Investment by 11.8% during the 4th quarter. Morgan Stanley now owns 126,326 shares of the real estate investment trust’s stock valued at $733,000 after acquiring an additional 13,291 shares during the period. Institutional investors and hedge funds own 16.87% of the company’s stock.

Wall Street Analyst Weigh In

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

About Cherry Hill Mortgage Investment

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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.