CHERRY HILL MORTGAGE INVESTMENT CORPORATION - CHMI STOCK NEWS

Cherry Hill Mortgage Investment (NYSE: CHMI) has transitioned to become a fully integrated, internally managed mortgage REIT, terminating its management agreement with Cherry Hill Mortgage Management, effective November 14, 2024. The internalization involves new employment arrangements with the senior management team and supporting personnel. No termination fee is required, and management fees will cease. The company expects this change to reduce expenses and enhance earnings. Additionally, the Board's special committee has concluded its strategic alternatives review, deciding to continue pursuing the company's residential mortgage investment strategy as an internally managed entity.

Cherry Hill Mortgage Investment (NYSE: CHMI) reported Q3 2024 results with a GAAP net loss of $14.8 million ($0.49 per share). The company posted earnings available for distribution of $2.5 million ($0.08 per share). Key metrics include common book value per share of $4.02, unrestricted cash of $50.2 million, and aggregate portfolio leverage of 5.3x. The company declared a regular common dividend of $0.15 per share, representing an annualized yield of 18.6%. Net servicing income was $8.5 million, while net interest income was $0.1 million. The MSR portfolio's unpaid principal balance stood at $17.6 billion with a carrying value of $226.8 million.

Cherry Hill Mortgage Investment (NYSE: CHMI) has scheduled its third quarter 2024 earnings release for November 12, 2024, after market close. The company will host a conference call the same day at 5:00 pm Eastern Time to discuss the results. Investors can access the live webcast through the company's website at www.chmireit.com, with an online archive available for one year. Participants can join via telephone using domestic (1-800-715-9871) or international (1-646-307-1963) numbers with Conference ID: 9439976.

Cherry Hill Mortgage Investment (NYSE: CHMI) has announced its dividend distributions for the third quarter of 2024. The company's Board of Directors declared a common stock dividend of $0.15 per share, payable on October 31, 2024, to shareholders of record as of September 30, 2024. Additionally, preferred stock dividends were declared: $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. Both preferred stock dividends will be paid on October 15, 2024, to shareholders of record as of September 30, 2024.

Cherry Hill Mortgage Investment (NYSE: CHMI) reported results for Q2 2024:

• GAAP net loss of $1.9 million, or $0.06 per share
• Earnings available for distribution (EAD) of $2.3 million, or $0.08 per diluted share
• Common book value per share of $4.15 as of June 30, 2024
• Declared regular common dividend of $0.15 per share (16.4% annualized yield)
• Aggregate portfolio leverage at 4.9x
• Unrestricted cash of $52.4 million

Key highlights include selling $1.2 billion UPB of low-balance MSRs to enhance portfolio efficiency and plans to internalize management to reduce expenses. The company reported net servicing income of $8.9 million and net interest income of $0.2 million for the quarter.

Cherry Hill Mortgage Investment (NYSE: CHMI) has announced its schedule for the release of second quarter 2024 financial results. The company will disclose its earnings after the market closes on August 8, 2024, followed by a conference call at 5:00 pm Eastern Time on the same day to discuss the results.

Investors and interested parties can access a live webcast of the conference call through the investor relations section of CHMI's website at www.chmireit.com. The webcast will be archived on the site for one year after the call. For those wishing to participate via telephone, registration is required, after which dial-in information will be provided.

Cherry Hill Mortgage Investment (NYSE: CHMI) announced that its Board of Directors has approved the internalization of the Company's management. This comes after a recommendation from the Special Committee, composed of entirely independent and disinterested board members, to terminate the management agreement with Cherry Hill Mortgage Management, The internalization is part of a broader exploration of strategic alternatives by the Special Committee. The timeline for completing this exploration remains undefined, and there is no guarantee that it will result in any transaction beyond the internalization. The Company will only disclose further developments when deemed appropriate or legally required.

Cherry Hill Mortgage Investment (NYSE: CHMI) has announced its common and preferred dividends for the second quarter of 2024. A dividend of $0.15 per share will be paid on CHMI’s common stock on July 31, 2024, to shareholders of record as of June 28, 2024.

Additionally, the Board of Directors has declared a dividend of $0.5125 per share on the 8.20% Series A Cumulative Redeemable Preferred Stock and $0.6995 per share on the 8.250% Series B Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock. These dividends will be payable on July 15, 2024, to shareholders of record as of June 28, 2024.

Cherry Hill Mortgage Investment reported first quarter 2024 results with GAAP net income of $9.7 million, EAD of $4.0 million, common book value per share of $4.49, and a regular dividend of $0.15 per share. The company repurchased $9.3 million of preferred stock shares and had $47.5 million of unrestricted cash. Aggregate portfolio leverage was 4.5x, with a strategic investment portfolio positioning to offset market impacts. Operating results showed positive net income and earnings for the quarter. Portfolio highlights included net servicing fee income of $10.3 million, with a focus on optimizing portfolio performance and managing risks.