FARMINGDALE, N.J. - Cherry Hill Mortgage (NYSE:CHMI) Investment Corporation (NYSE:CHMI) has declared quarterly dividends for its common and preferred stock for the third quarter of 2024. The real estate finance company announced a dividend of $0.15 per share for common stock, payable on October 31 to shareholders on record as of September 30.
Moreover, dividends for the company's preferred stock were also declared, with $0.5125 per share for the 8.20% Series A Cumulative Redeemable Preferred Stock and $0.6986 per share for the 8.250% Series B Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock. These dividends will be distributed on October 15 to holders of record as of September 30.
Cherry Hill Mortgage Investment Corporation specializes in acquiring, investing in, and managing residential mortgage assets across the United States. The company's strategy is aimed at generating sustainable and attractive risk-adjusted returns for its stockholders.
The information in this article is based on a press release statement, which also includes forward-looking statements about the company's potential for long-term growth and strategies to expand market opportunities. These forward-looking statements are not guaranteed and are subject to various factors that could impact the company's actual results or performance.
InvestingPro Insights
Cherry Hill Mortgage Investment Corporation (NYSE:CHMI) has caught the attention of investors with its recent dividend declarations, reflecting a commitment to shareholder returns. According to InvestingPro, analysts are expecting the company's net income to grow this year, which could be a positive sign for future dividends. Moreover, the company is anticipated to experience sales growth in the current year, which may contribute to its financial stability and ability to maintain attractive dividends.
InvestingPro Data shows Cherry Hill's market capitalization stands at $107.6 million, with a notable revenue growth of 60.17% over the last twelve months as of Q2 2024. This growth is a testament to the company's expanding operations and potential for increased shareholder value. Additionally, the dividend yield as of the latest data point is an impressive 17.14%, which is particularly appealing to income-focused investors. However, it's important to note the company's stock price movements have been quite volatile, which could be a consideration for those with a lower risk tolerance.
For investors seeking more detailed analysis and metrics, InvestingPro offers a comprehensive set of additional tips to help navigate the investment landscape surrounding Cherry Hill Mortgage Investment Corporation. With 9 InvestingPro Tips available, investors can gain deeper insights into the company's financial health and market position.
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