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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 Corporation (NYSE: CHMI) announced a dividend of $0.27 per share for the first quarter of 2023, payable on April 25, 2023, to shareholders on record by March 31, 2023. The Company also declared dividends on preferred stock: $0.5125 for 8.20% Series A and $0.515625 for 8.250% Series B, both payable on April 17, 2023. These financial moves signal Cherry Hill's commitment to rewarding its investors amid ongoing strategies to enhance long-term growth and market opportunities.
Cherry Hill Mortgage Investment Corporation (NYSE: CHMI) has appointed Sharon Lee Cook to its Board of Directors effective March 8, 2023, to fill the vacancy left by Regina Lowrie, who passed away on January 1, 2023. Ms. Cook, an independent director, will also serve on the Audit, Compensation, and Nominating and Corporate Governance Committees. She brings a wealth of experience from her roles at Incapital LLC, D.A. Davidson & Co., and the U.S. Department of Treasury’s Office of Thrift Supervision, where she contributed to key financial programs. The company anticipates her insights will be valuable in navigating the current market environment.
Cherry Hill Mortgage Investment Corporation (CHMI) reported a net loss of $34.5 million, or $1.59 per share, for Q4 2022. Despite challenges, earnings available for distribution (EAD) were $5.3 million, equating to $0.24 per share. The company declared a common dividend of $0.27 per share, offering a 16.2% annualized yield as of March 6, 2023. The book value per share stood at $6.06 at year-end. Cherry Hill managed a portfolio with a leverage ratio of 3.8x and held $57.3 million in unrestricted cash. The CEO noted effective strategies in protecting book value amid a challenging macro environment.
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