Q3 2024 Cherry Hill Mortgage Investment Corp Earnings Call Transcript

Nov 12, 2024 / 10:00 PM GMT

Release Date Price: $24.12 (-0.51%)

Transcript 8-K10-Q

Key Points

Positve

Cherry Hill Mortgage Investment Corp (CHMI) reported a relatively consistent portfolio performance in the third quarter, with improvements in the mortgage market as spreads compressed.
The company's MSR portfolio, consisting primarily of low note rate loans, performed well with prepayment speeds hovering in the mid-single digits.
Cherry Hill Mortgage Investment Corp (CHMI) maintained a solid liquidity profile, ending the quarter with $50 million of unrestricted cash on the balance sheet.
The company continues to hedge a portion of its basis risk with TBA, expecting to outperform into wider spreads.
Cherry Hill Mortgage Investment Corp (CHMI) is strategically positioning its portfolio for further rate cuts, deploying capital into agency RMBS for strong risk-adjusted returns.

Negative

Cherry Hill Mortgage Investment Corp (CHMI) reported a GAAP net loss applicable to common stockholders of 49¢ per diluted share for the third quarter.
Earnings available for distribution (EAD) were impacted by approximately 4.5¢ per share of expenses related to the Special Committee's efforts.
Book value per common share decreased to $4.02 from $4.15 as of June 30th, with a portion of the decline attributable to special committee expenses.
Financial leverage increased to 5.3 times, which may pose risks if market conditions worsen.
The company is facing uncertainties related to geopolitical unrest and potential impacts from the US Presidential election, which could affect economic and inflationary conditions.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

CHMI.N - Cherry Hill Mortgage Investment Corp
Q3 2024 Cherry Hill Mortgage Investment Corp Earnings Call
Nov 12, 2024 / 10:00PM GMT

=====================
Presentation
--------------------------------------------------------------------------------
Unidentified_1 [1]
--------------------------------------------------------------------------------
Ladies and gentlemen, thank you for standing by. My name is Desiree. I will be your conference operator today. At this time, I would like to welcome everyone to the Cherry Hill Mortgage Investment Corporation's third quarter, 2024 conference call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star followed by the number one on your telephone keypad. If you would like to withdraw your question again, press the star one. I would now like to turn the conference over to Garrett Edson of IC R. You may begin.

---------------------------------

Already have an account? Log in

Get the full story

Subscribe Now

	Access to All Earning Calls and Stock Analysis
	30-Year Financial on one screen
	All-in-one Stock Screener with unlimited filters
	Customizable Stock Dashboard
	Real Time Insider Trading Transactions
	8,000+ Institutional investors’ 13F holdings
	Powerful Excel Add-in and Google sheets Add-on
	All data downloadable
	Quick customer support
	And much more...

7-Day Free Trial · Cancel Anytime

Subscription fee may be tax deductible.

Excellent

4.6 out of 5

Trustpilot

Research Tools

All-In-One Screener Stock Ideas Stock List Guru List Guru Real-Time Picks Insider List Insider Trades Economic Indicators Sector & Industry Performance DCF Calculator Calculators Discussion Board

Product

Pricing Plans Excel Add-In Google Sheets Add-on Data API Stock Comparison Table Manual of Stocks Instant Alerts Mobile App Newsletters Signup 中文

Education

Financial Glossary Tutorials FAQ Buffett Indicator Shiller P/E Yield Curve Today U.S. Inflation Rate Global Market Valuation Fed Net Liquidity Buffett Assets Allocation

Company

About GuruFocus Career Contact Us Advertise Term of Use Privacy Policy Referral Program Partner Program

Survey

We'd love to learn more about your experiences on GuruFocus.com and how we can improve!

Take Survey

Disclaimers

GuruFocus.com is not operated by a broker or a dealer. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The individuals or entities selected as "gurus" may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. Gurus may be added or dropped from the GuruFocus site at any time. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes are provided by QuoteMedia, Inc. (CSI). Company fundamental data is provided by Morningstar. Analyst estimates data is sourced from both Refinitiv and Morningstar, with priority given to Refinitiv data. Data is updated daily.