Cherry Hill Mortgage

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. The company was founded on October 31, 2012 and is headquartered in Farmingdale, NJ.

Earnings data Q1 2021

Earnings data Q2 2021

Earnings data Q3 2021

Earnings data Q4 2021

Earnings data Q1 2022

Earnings data Q2 2022

Earnings data Q3 2022

Earnings data Q4 2022

Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

Cherry Hill Mortgage reports stable book value amidst market challenges

Cherry Hill Mortgage navigated challenging economic conditions by focusing on protecting book value and maintaining liquidity. Despite a GAAP net loss, the company improved financial leverage and acquired significant UPB Fannie and Freddie MSRs. Analyst inquiries centered on dividend sustainability and strategic responses to interest rate changes.

Cherry Hill Mortgage reports resilient earnings amidst market challenges

Cherry Hill Mortgage (CHMI) navigated challenges from the banking crisis, reporting a GAAP net loss but strong earnings available for distribution.
Despite a decline in book value per share, the company's conservative approach to risk management and proactive portfolio strategies are strengths.
Opportunities lie in optimizing dividend realignment and leveraging stable MSR and improved RMBS portfolios for sustained growth.
Management's emphasis on navigating the macro environment underscores a forward-looking strategy for long-term success.

Cherry Hill Mortgage reports Q2 loss, eyes growth in Agency MBS

Cherry Hill Mortgage navigated market challenges with a focus on strategic portfolio management and maintaining financial strength.
Despite facing a net loss and decline in book value per share, the company's cash position and strategic initiatives provide avenues for growth.
Addressing challenges and capitalizing on opportunities will be crucial for Cherry Hill Mortgage to drive profitability and shareholder value.

Cherry Hill Mortgage (CHMI) reports resilient earnings amidst market challenges

Cherry Hill Mortgage (CHMI) navigated market challenges by proactively hedging their portfolio and maintaining a focus on risk management. Despite facing rising interest rates, the company reported solid earnings and stable MSR performance. Opportunities lie in the attractiveness of RMBS and a healthy cash position for future growth.

Cherry Hill Mortgage reports Q4 losses, eyes MSR sales

Cherry Hill Mortgage navigated Q4 2023 with a focus on risk management and transparency amidst challenging market conditions.
The company's performance reflects a strategic approach to addressing interest rate impacts on investments and optimizing portfolio positioning.
While facing GAAP net losses, Cherry Hill Mortgage aims to leverage opportunities in MSR sales and strategic financial adjustments for future growth.

Cherry Hill Mortgage reports strong Q1 earnings and explores strategic growth

CHMI's Q1 2024 performance reflects solid earnings and financial stability, supported by strategic initiatives to enhance shareholder value.
While facing challenges in portfolio optimization and financial leverage management, the company is well-positioned to leverage opportunities in the market.
By focusing on maximizing shareholder value and exploring strategic alternatives, CHMI aims to drive sustainable growth and profitability.

Cherry Hill Mortgage reports Q3 loss, eyes growth in Agency RMBS

CHMI faced challenges from the Fed's rate cut cycle, resulting in a GAAP net loss per diluted share of $0.49.
Despite this, the company maintained strong liquidity with $50 million in unrestricted cash.
Future opportunities include optimizing asset allocation and deploying capital into Agency RMBS.

Revenue

Cost of revenue

Gross profit

Operating expenses

SG&A

Other

Operating income

EBITDA

Net income

Earnings per share

Total assets

Current assets

Cash & equivalents

Receivables

Inventory

Non-current assets

Net PPE

Intangibles

Total liabilities

Current liabilities

Short term debt

Income tax payable

Non-current liabilities

Long-term debt

Total equity

Stockholders equity

Minority interest

Total liabilities & equity

Total debt

Net debt

Book value per share

Cash from operations

Funds from operations

Change in working capital

Cash from investing

Capital expenditure

Purchase/sale of investments

Purchase/sale of business

Other sources

Cash from financing

Change in stock

Change in debt

Cash dividends paid

Cash from other sources

Net change in cash

Free cash flow

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. It also invests in agency residential mortgage-backed securities, prime jumbo mortgage loans and other residential mortgage assets. The company was founded on October 31, 2012 and is headquartered in Tinton Falls, NJ.

ARMOUR Residential REIT

Chimera Investment

Dynex Capital

Ellington Financial

Franklin BSP Realty Trust Inc

Granite Point Mortgage Trust

Main Street Capital

MFA Financial

AG Mortgage Investment Trust

Annaly Capital

New York Mortgage Trust

Ready Capital Corp

Rithm Capital Corp

Two Harbors Investment

Most of these shares are either floating today or will float within a year. We're also including a common share where the high yield and discount to book value are big enough to be quite appealing. Of course, it also carries more risk. We're also going to highlight one lower-risk equity REIT that I find attractive following the recent decline.

10% Yields Or Higher

FARMINGDALE, N.J.--(BUSINESS WIRE)--Cherry Hill Mortgage Investment Corporation (NYSE: CHMI) today announced that its Board of Directors declared a dividend of $0.15 per share on the Company's common stock for the first quarter of 2024. The dividend will be payable in cash on April 30, 2024 to holders of the common stock of record as of the close of business on March 28, 2024. Additionally, Cherry Hill announced that its Board of Directors has declared a dividend of $0.5125 per share on the Com.

Cherry Hill Mortgage Investment Corporation Announces Common and Preferred Dividends for the First Quarter 2024

Better Home & Finance Holding Co

Cherry Hill Mortgage Investment Corporation is struggling with the high interest rate environment, resulting in a swing from net interest income profit to a loss. The company's balance sheet shows increased investment in residential mortgage-backed securities and a shift towards short-term financing. The preferred B series shares offer a higher dividend yield and better preservation of capital compared to the common shares.

Cherry Hill Mortgage Investment: One Preferred Is Better Than The Other

Cherry Hill Mortgage (CHMI) came out with quarterly earnings of $0.17 per share, missing the Zacks Consensus Estimate of $0.20 per share. This compares to earnings of $0.24 per share a year ago.

Cherry Hill Mortgage (CHMI) Misses Q4 Earnings and Revenue Estimates

Cherry Hill Mortgage Investment Corporation (NYSE:CHMI ) Q4 2023 Earnings Conference Call March 7, 2024 5:00 PM ET Company Participants Garrett Edson - Investor Relations Jay Lown - President and Chief Executive Officer Julian Evans - Chief Investment Officer Michael Hutchby - Chief Financial Officer Conference Call Participants Mikhail Goberman - JMP Securities Operator Good day, and thank you for standing by. Welcome to the Cherry Hill Mortgage Investment Corporation Fourth Quarter 2023 Earnings Call.

Cherry Hill Mortgage Investment Corporation (CHMI) Q4 2023 Earnings Call Transcript

FARMINGDALE, N.J.--(BUSINESS WIRE)--Cherry Hill Mortgage Investment Corporation (NYSE: CHMI) (“Cherry Hill” or the “Company”) today reported results for the fourth quarter and full year 2023. Fourth Quarter 2023 Highlights GAAP net loss applicable to common stockholders of $35.5 million, or $1.29 per share. Earnings available for distribution (“EAD”) attributable to common stockholders of $4.5 million, or $0.17 per diluted share. Common book value per share of $4.53 at December 31, 2023. Declar.

Cherry Hill Mortgage Investment Corporation Announces Fourth Quarter and Full Year 2023 Results

FARMINGDALE, N.J.--(BUSINESS WIRE)--Cherry Hill Mortgage Investment Corporation (NYSE: CHMI) today announced that the Company will release fourth quarter and full year 2023 financial results after the market closes on March 7, 2024. A conference call will be held the same day at 5:00 pm Eastern Time to review the Company's fourth quarter and full year 2023. Webcast: A live webcast of the conference call will be available in the investor relations section of the Company's website at www.chmireit.

Cherry Hill Mortgage Investment Corporation Sets Date for Fourth Quarter and Full Year 2023 Earnings Release and Conference Call

AGNC Investment

Blackstone Mortgage Trust

Ellington Residential Mortgage REIT

Invesco Mortgage Capital

Orchid Island Capital

PennyMac Mortgage Investment

High yield investors are focused on maintaining income. Many don't understand the scenario that would best support their income. We'll walk through the scenario for one popular kind of high yield investment.

Sweet Fantasy For High Dividend Yield Buyers

FARMINGDALE, N.J.--(BUSINESS WIRE)--Cherry Hill Mortgage Investment Corporation (the “Company” or “CHMI”) (NYSE: CHMI) today announced the estimated Federal income tax treatment of the Company's 2023 distributions on its common and preferred stock, as described below. Shareholders are encouraged to consult with their personal tax advisors as to their specific tax treatment of the Company's distributions. Common Stock     Total     Record Payable Distributions Total Ordinary Nondividend Date Dat.

Cherry Hill Mortgage Investment Corporation Announces Taxable Composition of 2023 Dividends

New York Mortgage Trust, Inc. Cum Conv Perp Red Pfd Registered Shs Series D

We take a look at the action in preferreds and baby bonds through the second week of December and highlight some of the key themes we are watching. Preferreds rallied for another week, closing in on a 10% total return for the year. We touch on the debate of whether it makes sense to hold preferreds funds or allocate to individual preferreds.

Preferreds Weekly Review: Funds Vs. Individual Preferreds Debate

Some agency mortgage REITs have high price-to-trailing-book ratios, while others do not. Q4 2023 has been a favorable quarter for the sector, with MBS outperforming Treasuries and swaps. One in particular has a high price-to-book ratio. The price-to-current-book isn't nearly as bad, but it is still materially higher than peers.

Rates Plunge, High Yields At Risk

FARMINGDALE, N.J.--(BUSINESS WIRE)--Cherry Hill Mortgage Investment Corporation (NYSE: CHMI) today announced that its Board of Directors has authorized the repurchase of up to $50 million of the Company's preferred stock, which includes its 8.20% Series A Cumulative Redeemable Preferred Stock and its 8.250% Series B Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock. The shares are expected to be repurchased from time to time through open market or privately negotiated transactions, i.

Cherry Hill Mortgage Investment Corporation Authorizes Preferred Stock Repurchase Program

FARMINGDALE, N.J.--(BUSINESS WIRE)--Cherry Hill Mortgage Investment Corporation (NYSE: CHMI) today announced that its Board of Directors declared a dividend of $0.15 per share on the Company's common stock for the fourth quarter of 2023. The dividend will be payable in cash on January 31, 2024 to holders of the common stock of record as of the close of business on December 29, 2023. Additionally, Cherry Hill announced that its Board of Directors has declared a dividend of $0.5125 per share on t.

Cherry Hill Mortgage Investment Corporation Announces Common and Preferred Dividends for the Fourth Quarter 2023

Arbor Realty Trust

Apartment Income REIT Corp

Apple Hospitality REIT

JPMorgan BetaBuilders MSCI US REIT ETF

Blackstone Group

Centerspace REIT

CTO Realty Growth

Digital Realty Trust

Direxion Daily Real Estate Bull 3x Shares

Direxion Daily Real Estate Bear 3x Shares

EastGroup Properties

Fidelity MSCI Real Estate ETF

First Trust S&P REIT Index Fund

Federal Realty Investment Trust

Gaming and Leisure Properties

iShares Cohen & Steers REIT ETF

iShares U.S. Real Estate ETF

Nuveen Real Estate Income Fund

Invesco KBW Premium Yield Equity REIT ETF

Kimco Realty

Mid-America Apartment Communities

Neuberger Berman Real Estate Securities Income Fund Inc

Realty Income Corp

U.S. equity markets continued their November rally into the Thanksgiving week, while benchmark interest rates held steady around two-month lows as investors weighed easing geopolitical tensions alongside mixed economic data. Gaining for a fourth straight week since dipping into "correction territory" at the end of October, the S&P 500 gained another 1.0% this week, while the tech-heavy Nasdaq 100 advanced 0.9%. Following a nearly 5% surge in the prior week, real estate equities also finished modestly higher this week. The Equity REIT Index advanced another 0.8%, but Mortgage REITs slipped 0.2%.

A November To Remember

Cherry Hill Mortgage Investment Corporation (NYSE:CHMI ) Q3 2023 Earnings Conference Call November 2, 2023 5:00 PM ET Company Participants Garrett Edson - Investor Relations Jay Lown - President and Chief Executive Officer Julian Evans - Chief Investment Officer Michael Hutchby - Chief Financial Officer Conference Call Participants Mikhail Goberman - JMP Securities Matthew Howlett - B. Riley FBR Operator Good day, and thank you for standing by.

Cherry Hill Mortgage Investment Corporation (CHMI) Q3 2023 Earnings Call Transcript

FARMINGDALE, N.J.--(BUSINESS WIRE)--Cherry Hill Mortgage Investment Corporation (NYSE: CHMI) (“Cherry Hill” or the “Company”) today reported results for the third quarter 2023. Third Quarter 2023 Highlights GAAP net income applicable to common stockholders of $13.1 million, or $0.49 per share. Earnings available for distribution (“EAD”) attributable to common stockholders of $4.4 million, or $0.16 per diluted share. Common book value per share of $4.99 at September 30, 2023. Declared regular co.

Cherry Hill Mortgage Investment Corporation Announces Third Quarter 2023 Results

FARMINGDALE, N.J.--(BUSINESS WIRE)--Cherry Hill Mortgage Investment Corporation (NYSE: CHMI) today announced that the Company will release third quarter 2023 financial results after the market closes on November 2, 2023. A conference call will be held the same day at 5:00 pm Eastern Time to review the Company's third quarter 2023. Webcast: A live webcast of the conference call will be available in the investor relations section of the Company's website at www.chmireit.com. To listen to the live.

Cherry Hill Mortgage Investment Corporation Sets Date for Third Quarter 2023 Earnings Release and Conference Call

AGNC Investment preannounces results. In line with our expectations, but it sent prices plunging. All agency mortgage REITs that reported so far have included big losses to book value. Expect that trend to continue. We can demonstrate the damage to book value.

Disaster Strikes: Mortgage REITs Under Siege

Capital Southwest

Sixth Street Specialty Lending

Mortgage REIT book values were slaughtered. BDC values were not. I'm including our Q3 2023 earnings and BV estimates for stocks chosen by readers. When interest rates rip higher, it is usually very bad for mortgage REITs.

The Devastation Of Book Value In Q3 2023

Volatility in Treasuries is causing issues for analysts as it affects share prices and fundamentals. The market forecast for inflation has not changed significantly in the last six months, indicating belief that inflation is under control. Mortgage REITs are experiencing declines in book values, particularly agency mortgage REITs, due to interest rate risk.

Mortgage REIT Chaos

Arlington Asset Investment

Ares Commercial Real Estate

FS KKR Capital Corp

Gladstone Investment

MidCap Financial Investment Corp

Blue Owl Capital Corp

PennantPark Floating Rate Capital

Prospect Capital

Solar Capital

TCP Capital

Rising interest rates pose challenges for many REITs by impacting debt rollovers and investor alternatives. Higher rates will add around $2 billion to the national debt over the next decade. Even more if they create a recession. Apartment construction is declining, affecting rental unit supply and potentially leading to increased rental rates. Pretty obvious when you think about it.

Big Dividend Yields Going Higher, Dumb Debt, And Snark

FARMINGDALE, N.J.--(BUSINESS WIRE)--Cherry Hill Mortgage Investment Corporation (NYSE: CHMI) today announced that its Board of Directors declared a dividend of $0.15 per share on the Company's common stock for the third quarter of 2023. The dividend will be payable in cash on October 31, 2023 to holders of the common stock of record as of the close of business on September 29, 2023. Additionally, Cherry Hill announced that its Board of Directors has declared a dividend of $0.5125 per share on t.

Cherry Hill Mortgage Investment Corporation Announces Common and Preferred Dividends for the Third Quarter 2023

Cherry Hill Mortgage Investment Corporation is a mortgage REIT company that manages MSRs and agency RMBS to generate income for investors. CHMI has a history of underperformance and poor returns, with a significant drop in share price and total return. The stock is super cheap from a fundamental standpoint, but it may be for a good reason.

Cherry Hill Mortgage Investment: Compellingly Cheap, Still Not A Great Investment

Cherry Hill Mortgage Investment Corporation (NYSE:CHMI ) Q2 2023 Earnings Conference Call August 3, 2023 5:00 PM ET Company Participants Garrett Edson - Investor Relations Jay Lown - President and Chief Executive Officer Julian Evans - Chief Investment Officer Michael Hutchby - Chief Financial Officer Conference Call Participants Mikhail Goberman - JMP Securities Matthew Howlett - B.Riley Operator Ladies and gentlemen, thank you for standing by. Welcome to the Cherry Hill Mortgage Investment Corporation Second Quarter 2023 Earnings Call.

Cherry Hill Mortgage Investment Corporation (CHMI) Q2 2023 Earnings Call Transcript

Cherry Hill Mortgage (CHMI) came out with quarterly earnings of $0.16 per share, missing the Zacks Consensus Estimate of $0.21 per share. This compares to earnings of $0.34 per share a year ago.

Cherry Hill Mortgage (CHMI) Q2 Earnings and Revenues Lag Estimates

News for Cherry Hill Mortgage Stock (CHMI)