Cherry Hill Mortgage Investment Q4 net income reaches $5.3 mln

Reuters02-26
Cherry Hill Mortgage Investment Q4 net income reaches $5.3 mln

Overview

  • Real estate finance firm's Q4 GAAP net income was $5.3 mln

  • Earnings available for distribution in Q4 were $3.9 mln

  • Company declared a $0.10 per share dividend for Q4

Outlook

  • Company did not provide specific guidance for future periods

Result Drivers

  • NET SERVICING INCOME - Cherry Hill reported net servicing income of $8.1 mln, contributing significantly to Q4 results

  • PORTFOLIO PERFORMANCE - Diversified RMBS and MSR portfolio performed well, supporting book value growth, per CEO Jay Lown

  • RISK MANAGEMENT - Co used interest rate swaps and other instruments to mitigate duration and interest rate risks

Company press release: ID:nBw9Z4zTRa

Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q4 EPS

$0.14

Q4 Net Income

$5.30 mln

Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "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 $3.00, about 15.4% above its February 24 closing price of $2.60

  • The stock recently traded at 5 times the next 12-month earnings vs. a P/E of 4 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(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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