Cherry Hill posts Q3 net income at $2 mln

Reuters
Nov 07
Cherry Hill posts Q3 net income at $2 mln

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.)

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