Cherry Hill Mortgage Investment Corp (NYSE:CHMIpA.PFD)
$ 20.3 -0.11 (-0.54%) Market Cap: - Enterprise Value: - PE Ratio: 0 PB Ratio: 0.72 GF Score: 36/100
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Q1 2025 Cherry Hill Mortgage Investment Corp Earnings Call Transcript

May 6, 2025 / 09:00 PM GMT
Release Date Price: $21.48 (-1.01%)

Key Points

Positve
  • Cherry Hill Mortgage Investment Corp (CHMI) maintained a solid liquidity profile with $47 million of unrestricted cash on the balance sheet.
  • Operating expenses declined quarter over quarter due to the elimination of the management fee, reflecting cost efficiency.
  • The RMBS portfolio's net interest spread improved to 3.55%, driven by better dollar roll income and repo expenses.
  • The company completed its first full quarter as an integrated internally managed mortgagee, indicating a successful transition.
  • Cherry Hill Mortgage Investment Corp (CHMI) plans to deploy capital into agency RBS and select MSRs, which present strong risk-adjusted return profiles.
Negative
  • Cherry Hill Mortgage Investment Corp (CHMI) reported a GAAP net loss applicable to common stockholders of $0.29 per diluted share for the first quarter.
  • Book value per common share decreased to $3.58 from $3.82 at the end of December.
  • The company's NAV was down approximately 3.2% relative to December 31st.
  • Earnings available for distribution (EAD) are expected to be lower moving forward due to the maturity of a large hedge.
  • The macroeconomic environment and tariff uncertainties continue to pose challenges, leading to elevated rates and market volatility.


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

CHMI.N - Cherry Hill Mortgage Investment Corp
Q1 2025 Cherry Hill Mortgage Investment Corp Earnings Call
May 06, 2025 / 09:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good day and welcome to the Cherry Hill Mortgage Investment Corporation. First quarter of 2025 earnings call. At this time, all participants are listen-only mode. After the speaker's presentation, there'll be a question and answer session. Instructions will be given at that time. As a reminder, this call may be recorded. I would like to turn the call over to Gerrit Edson with ICR. Please go ahead.

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Unidentified_2 [2]
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