Cherry Hill Mortgage Investment (CHMI)
NYSE:CHMI
Earnings Data
Report Date
May 11, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.12Last Year’s EPS
0.17Same Quarter Last Year
Moderate Buy
Based on 1 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a generally constructive operating quarter driven by tighter mortgage spreads, a steeper yield curve, positive portfolio positioning and improvements in book value, liquidity and profitability metrics (GAAP net income, comprehensive income and EAD). Management emphasized prudent leverage and proactive hedging while highlighting a strategic growth investment (Real Genius). Offsetting factors included a near-term decline in RMBS net interest spread, rising RMBS prepayment speeds, derivative mark-to-market exposure (no hedge accounting), concentration in RMBS/MSR assets, and a softer market tone in early 2026 that adds volatility and risk to near-term results. On balance, the positives around earnings, book value growth, liquidity and portfolio performance were stronger than the listed challenges, though management remains appropriately cautious about market and prepayment risks.Company Guidance
GAAP Net Income and EPS
GAAP net income applicable to common stockholders of $5.3 million, or $0.14 per diluted share for Q4 2025; comprehensive income of $6.5 million, or $0.18 per diluted share.
Earnings Available for Distribution and Dividend Coverage
EAD attributable to common stockholders of $3.9 million, or $0.11 per share. Board declared and paid a common dividend of $0.10 per share for Q4 2025 (paid Jan 30, 2026), indicating EAD coverage of the cash dividend.
Book Value and NAV Growth
Book value per common share increased from $3.36 on Sept 30, 2025 to $3.44 on Dec 31, 2025 (approximately +2.38%). NAV (including preferred stock) rose by about $3.1 million, or ~1.3% versus Sept 30, 2025. Management also reported an approximate 1% increase in book value as of 3/31/2026 versus 12/31/2025.
Strong Liquidity and Prudent Leverage
Unrestricted cash of $55 million at quarter end and financial leverage remained stable and conservative at 5.4x.
Portfolio Size and Positive Portfolio Drivers
MSR UPB of $15.9 billion with MSR market value ~ $215 million; MSR and related net assets represented ~40% of equity capital and ~21% of investable assets (ex-cash). RMBS portfolio stood at ~$805 million (up from $782 million prior quarter, +~2.9%) and represented ~40% of equity capital and ~79% of investable assets (ex-cash). Portfolio performance was aided by tighter mortgage spreads, a steeper yield curve, and positive contributions from mortgages, swaps, futures and MSRs.
Portfolio Positioning and Hedging Activity
Management proactively positioned the portfolio for lower rates and steeper curve; diversified hedge instruments include swaps, TBAs, treasury futures and swap futures with combined notional of ~$422 million. Initiated a small position in ARRIS SOFR futures with plans to expand usage.
Operational Cost Normalization
Operating expenses were $3.3 million for the quarter and G&A normalized after nonrecurring personnel-related expenses in Q3, contributing to a reported ~30% quarter-over-quarter drop in G&A versus Q3 (management attributed Q3 increase to nonrecurring items).
Strategic Investment Growth Opportunity
Strategic partnership with Real Genius LLC (digital mortgage platform) continues to grow in line with expectations; management is optimistic that potential mortgage rate declines (e.g., toward 5.5%) could accelerate growth and increase the refinanceable universe (management cited an increase from ~19% to ~30% refinanceable at 5.5%).
CHMI Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
CHMI Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 25, 2026 | $2.49 | $2.53 | +1.57% |
Nov 06, 2025 | $2.14 | $2.19 | +2.57% |
Aug 07, 2025 | $2.48 | $2.53 | +2.18% |
May 06, 2025 | $2.48 | $2.49 | +0.36% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Cherry Hill Mortgage Investment (CHMI) report earnings?
Cherry Hill Mortgage Investment (CHMI) is schdueled to report earning on May 11, 2026, After Close (Confirmed).
What is Cherry Hill Mortgage Investment (CHMI) earnings time?
Cherry Hill Mortgage Investment (CHMI) earnings time is at May 11, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CHMI EPS forecast?
CHMI EPS forecast for the fiscal quarter 2026 (Q1) is 0.12.