Cherry Hill Mortgage Investment
Acquires and manages mortgage servicing rights and RMBS tied to U.S. residential mortgages.
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Profile
Builds and manages a portfolio of mortgage servicing rights and residential mortgage-backed securities in the United States. Income comes from investments in servicing-related assets and RMBS, with hedging and leverage integral to the model.
Acquires and manages mortgage servicing rights, Agency RMBS, and other U.S. residential mortgage assets. Its two reportable segments are Investments in RMBS and Investments in Servicing Related Assets. Agency holdings are linked to Fannie Mae and Freddie Mac, while non-Agency RMBS may include securities backed by jumbo and non-qualified mortgages.
Mortgage servicing rights are acquired from mortgage servicers through flow or bulk purchases, and Agency RMBS are managed on a leveraged basis. Interest-rate swaps, TBAs, Treasury securities, futures, forwards, and other derivatives support hedging. The business depends on U.S. mortgage-prepayment behavior, interest rates, agency securities, and borrowing costs. It is internally managed after ending its external-management agreement.
Company facts
Categories
Key statistics
Year to date +15.9% · Average volume (30d) 482.2K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Target |
|---|---|---|---|---|---|
| Aug 11, 2026 | Citigroup | Downgrade | Perform | Market Perform | |
| Aug 11, 2026 | Citizens | Downgrade | Market Outperform | Market Perform | |
| Aug 10, 2026 | B. Riley | Downgrade | Neutral | ||
| Aug 10, 2026 | B.Riley Financial | Target | $3.10 | ||
| Jan 22, 2026 | Credit Suisse | Target | $3 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 10, 2026Q2 FY26 | $0.13 | $0.15 | +15.4% | $10.8M | $7.9M | −26.7% | +15.77% |
| May 7, 2026Q1 FY26 | $0.12 | $0.14 | +16.7% | $10.3M | $4.6M | −55.0% | 0.00% |
| Feb 25, 2026Q4 FY25 | $0.11 | $0.11 | 0.0% | $10.4M | $11.8M | +13.6% | +1.54% |
| Nov 6, 2025Q3 FY25 | $0.11 | $0.09 | −18.2% | $2.5M | $8.6M | +249.9% | +2.60% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | −$3.1M | $8.0M | $20.9M | $24.5M | $26.0M | $35.5M | |
| Gross profit | −$3.1M | $6.0M | $8.6M | $22.0M | $23.7M | $33.2M | |
| Operating income | $0 | $2.7M | $4.8M | $21.1M | $12.8M | $16.9M | |
| Net income | −$6.9M | $1.5M | $4.4M | $7.7M | $423.0K | $3.7M | |
| Diluted EPS | −$0.29 | −$0.03 | $0.05 | $0.14 | −$0.05 | $0.04 | |
| Gross margin | — | 75.6% | 41.0% | 89.9% | 91.2% | 93.5% | |
| Operating margin | — | 33.6% | 22.9% | 86.0% | 49.1% | 47.5% |
Fiscal years (4-quarter sums)FY21 $28.7M · FY22 $40.2M · FY23 $27.6M · FY24 $34.6M · FY25 $50.4M
Balance sheet, Jun 30, 2026Cash & short-term investments $1.34B · Total debt $1.15B · Total assets $1.40B · Shareholders' equity $226.4M
Dividends
Last cut to $0.10 from $0.15 in Sep 2025. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 30, 2026 | Jun 30 | Jul 31 | $0.10 | |
| Mar 31, 2026 | Mar 31 | Apr 30 | $0.10 | |
| Dec 31, 2025 | Dec 31 | Jan 30 | $0.10 | |
| Sep 30, 2025 | Sep 30 | Oct 31 | $0.10 | cut from $0.15 |
| Jun 30, 2025 | Jun 30 | Jul 31 | $0.15 | |
| Mar 31, 2025 | Mar 31 | Apr 30 | $0.15 | |
| Dec 31, 2024 | Dec 31 | Jan 31 | $0.15 | |
| Sep 30, 2024 | Sep 30 | Oct 31 | $0.15 |
Ownership
Shares outstanding 36.74M · Float 36.20M · 98.5% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Vanguard Capital Management LLC | 1.51M | 4.10% | 13F | Aug 13, 2026 |
| Summit Financial, LLC | 1.02M | 2.78% | 13F | Aug 12, 2026 |
| TPG GP A, LLC | 734.8K | 2.00% | 13F | Aug 14, 2026 |
| Renaissance Technologies LLC | 563.0K | 1.53% | 13F | Aug 13, 2026 |
| BlackRock, Inc. | 475.7K | 1.29% | 13F | Aug 7, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Dec 10, 2025 | Sharon L. Cook | director | −7,427 | $2.49 |
Peers
- TWO
Agency RMBS and mortgage servicing rights in the same mortgage markets
- Annaly Capital Management
Agency MBS, residential credit, and mortgage servicing rights
- Rithm Capital
Scaled mortgage servicing and residential mortgage-investment platform
- AGNC
Leveraged Agency RMBS investments across major U.S. mortgage guarantors
- ARMOUR Residential REIT
Leveraged Agency MBS portfolio spanning conventional and Ginnie Mae pools
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Cherry Hill Mortgage Investment | $2.92 | 0.00% | $107.3M | 16.5 | 5.3 | 1.0 | −79.6% |
| TWO | $12.18 | +1.08% | $1.28B | — | 10.9 | 1.5 | — |
| Annaly Capital Management | $23.11 | +0.26% | $17.37B | 5.8 | 7.4 | 2.4 | −50.1% |
| Rithm Capital | $10.09 | +0.05% | $5.63B | 16.8 | 4.5 | 1.0 | +205.4% |
| AGNC | $10.95 | +0.41% | $12.51B | 5.6 | 7.2 | 4.1 | — |
| ARMOUR Residential REIT | $16.33 | +0.11% | $1.90B | 4.4 | 5.6 | 1.9 | −41.6% |
| Median | 5.7 | 7.2 | 1.9 | −41.6% |