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CHMI — Cherry Hill Mortgage Investment News Story

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Brief: Cherry Hill Mortgage Investment Corporation Q2 EPS USD -0.03

Overview

Cherry Hill reports Q2 GAAP net loss of $0.9 mln, or $0.03 per share

Earnings available for distribution at $3.2 mln, or $0.10 per share

Co enters strategic partnership with Real Genius, raises $8.9 mln equity

Result Drivers

STRATEGIC PARTNERSHIP - Entered into a partnership with Real Genius to enhance digital mortgage capabilities, per CEO Jay Lown

EQUITY RAISE - Generated $8.9 mln through at-the-market equity program

DERIVATIVES IMPACT - Results affected by realized gains and unrealized losses on derivatives

Key Details

MetricBeat/MissActualConsensus Estimate
Q2 EPS-$0.03
Q2 Net Income-$900,000
Analyst Coverage The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell" The average consensus recommendation for the specialized reits peer group is "buy" Wall Street's median 12-month price target for Cherry Hill Mortgage Investment Corp is $4.00, about 27.7% above its August 6 closing price of $2.89 The stock recently traded at 5 times the next 12-month earnings vs. a P/E of 6 three months ago Press Release: ID:nBwbjNP0na (This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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