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Cherry Hill Mortgage's Dividend Sustainability Analysis (Includes Q2-Q4 2019 Dividend Projection And Recommendation)

Published Wed, 05 Jun 2019 23:13:03 -0400 on Seeking Alpha

Focus of Article:
The focus of this article is to provide a detailed analysis with supporting documentation on the “most probable/suitable” quarterly dividend per share rate Cherry Hill Mortgage Investment Corp. (CHMI) will/should declare for the remainder of 2019 (Q2-Q4 2019). I decided to cover this topic due to the number of readers who have specifically requested such an analysis be specifically performed on CHMI in light of recent sector earnings. For readers who just want the summarized conclusions/results, I would suggest to scroll down to the “Conclusions Drawn” section near the bottom of the article.
Understanding the tax and dividend payout characteristics of CHMI will provide investors with an overall better understanding of the mortgage real estate investment trust (mREIT) sector as a whole. Due to the fact CHMI has produced an annualized dividend yield of at least 10% since the company’s initial public offering (“IPO”) in 2015, many investors have chosen this stock (and other sector peers) for an income-producing equity investment. From reading this article, investors will better understand how a qualified real estate investment trust (“REIT”) per the Internal Revenue Code (“IRC”) comes up with an entity’s current dividend per share rate and specific signs when an increase or decrease should be implemented.
I will be performing two dividend sustainability tests within this article. These tests will be termed “TEST 1” and “TEST... Read more

Stock name Last trade   P/E Earnings/Share Dividend/Share Dividend yield
ORCHID ISLAND CAPITAL 6.40   0.0 -0.33 0.96 15.02
TWO HARBORS INVESTMENT 12.64   0.0 -1.73 1.88 14.92
ANNALY CAPITAL MANAGEMENT 9.21   0.0 -1.59 1.20 13.16
NEW RESIDENTIAL INVESTMENT 15.84   11.2 1.42 2.00 12.84
NEW YORK MORTGAGE TRUST 6.39   10.1 0.63 0.80 12.72
ARMOUR RESIDENTIAL REIT 18.31   0.0 -5.94 2.28 12.60
AMERICAN CAPITAL AGENCY 16.92   1.0 0.01 1.92 11.44
INVESCO MORTGAGE CAPITAL 16.49   0.0 -0.35 1.80 11.15
AG MORTGAGE INVESTMENT TRUST 17.47   6.1 2.87 1.90 10.89


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