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Cherry Hill Mortgage Investment Corporation (symbol: CHMI) is a financial services company headquartered at 301 Harper Dr, Moorestown, NJ, United States. Operating as a Real Estate Investment Trust (REIT), Cherry Hill Mortgage Investment Corporation focuses on investing in residential mortgage assets. The company aims to generate current yields and risk-adjusted total returns for its stockholders over the long term, primarily through dividend distributions and secondarily through capital appreciation.
The company's reportable segments include:
- Residential Mortgage-Backed Securities (RMBS): This segment is the primary source of revenue, generating income through interest earned from servicing mortgage loans.
- Investments in Servicing Related Assets: This segment focuses on assets related to the servicing of mortgage loans.
- All Others: Encompasses other investment segments within the company's portfolio.
Cherry Hill Mortgage Investment Corporation is dedicated to providing high returns to its investors. Their strategic investments in RMBS and other related assets enable the company to maintain a strong financial condition and secure steady income. The company is continuously working on current projects and partnerships to optimize its asset management and investment strategies. Stay updated with the latest developments, financial reports, and news on Cherry Hill Mortgage Investment Corporation to make informed investment decisions.
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.
Cherry Hill Mortgage Investment (NYSE: CHMI) has scheduled the release of its first quarter 2024 financial results on May 6, 2024, with a conference call to follow at 5:00 pm Eastern Time. The webcast will be available on the investor relations section of the company's website. Participants can register for the conference call online.
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