Overview
Cherry Hill Q3 GAAP net income at $2.0 mln, or $0.05 per share
Earnings available for distribution at $3.3 mln, or $0.09 per diluted share
Company declared $0.10 per share dividend, 17% annualized yield
Result Drivers
BOOK VALUE INCREASE - Co attributes increase in book value and net asset value per share to strategic portfolio growth
INTEREST RATE ENVIRONMENT - Co prepared to respond tactically to lower interest rate environment
RMBS GAINS - Unrealized gains on RMBS contributed positively to income
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 EPS | $0.05 | ||
Q3 Net Income | $2 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 $3.38, about 30.4% above its November 5 closing price of $2.35
The stock recently traded at 4 times the next 12-month earnings vs. a P/E of 5 three months ago
Press Release: ID:nBw29hMzVa
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(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.)