CHMI
Cherry Hill Mortgage Investment Corporation2.5700
+0.0700+2.8%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Key Stats
Market Cap
95.95MP/E (TTM)
51.40Basic EPS (TTM)
0.05Dividend Yield
0.22%Recent Filings
10-K
FY2025 results
Cherry Hill Mortgage Investment internalized management in November 2024, slashing expenses while posting FY2025 net income of $6.9M versus $12.2M in 2024, with net loss to common at $3.0M after $9.8M preferred dividends. RMBS drove $11.3M net interest income on $1.2B portfolio yielding 5.08% funded at 1.62%, up from near-breakeven prior year; Servicing Related Assets added $34.0M net income on $215M UPB despite $18.8M unrealized loss from valuation shifts. Q4 net yield spread held steady at 3.46% versus 3.77% Q3, signaling stable quarterly momentum amid Fed cuts. Liquidity stays solid with $62M cash/restricted cash against $1.3B debt; no buybacks or dividends hiked. Yet third-party servicer failures could disrupt MSR flows.
8-K
Q4 net income $0.14/share
Cherry Hill Mortgage Investment reported Q4 2025 GAAP net income of $5.3 million ($0.14/share) and EAD of $3.9 million ($0.11/share), with book value at $3.44/share. MSR portfolio hit $15.9B UPB, RMBS $1.2B at 5.4x leverage, while declaring $0.10/share common dividend. Book value rose again. Dynamic markets tested hedges, yet core income held firm.
8-K
Q3 net income rebounds strongly
Cherry Hill Mortgage Investment Corporation posted GAAP net income of $2.0 million, or $0.05 per share, for Q3 2025, up from a $0.9 million loss last quarter, driven by $3.3 million net interest income and $8.5 million net servicing income. Book value rose to $3.36 per share, with unrestricted cash at $55.4 million and leverage at 5.3x. The board declared a $0.10 common dividend, yielding 17.0%. Portfolio grew tactically amid lower rates.
10-Q
Q3 FY2025 results
Cherry Hill Mortgage Investment swung to a Q3 profit of $4.5M, or $0.05 per diluted share, from a $12.4M loss last year, driven by $10.7M unrealized gains on RMBS amid falling rates while net interest income climbed 29% y/y to $3.3M on steady yields. Servicing income held firm at $8.5M despite a slight portfolio dip, but unrealized MSR losses widened to $5.9M from valuation shifts. Liquidity strengthened with $55.4M cash and $64.7M total including restricted, against $1.1B repo debt at 4.3% and $147M notes at ~7.1%; free cash flow not disclosed in the 10-Q. Internalization costs eased, yet competition for mortgage assets pressures spreads.
8-K
CFO Appointment Finalized
Cherry Hill Mortgage Investment Corporation elevated Apeksha Patel from interim to permanent Chief Financial Officer and Treasurer on August 22, 2025. This follows her interim appointment on June 22, 2025, with employment terms unchanged from prior disclosures. The move stabilizes leadership amid ongoing operations. No disruptions expected.
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