Cherry Hill Mortgage Investment Corp reports Q2 net loss of $0.9 mln

Overview

• Cherry Hill reports Q2 GAAP net loss of $0.9 mln, or $0.03 per share

• Earnings available for distribution at $3.2 mln, or $0.10 per share

• Co enters strategic partnership with Real Genius, raises $8.9 mln equity

Result Drivers

• STRATEGIC PARTNERSHIP - Entered into a partnership with Real Genius to enhance digital mortgage capabilities, per CEO Jay Lown

• EQUITY RAISE - Generated $8.9 mln through at-the-market equity program

• DERIVATIVES IMPACT - Results affected by realized gains and unrealized losses on derivatives

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 1 "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 $4.00, about 27.7% above its August 6 closing price of $2.89

• The stock recently traded at 5 times the next 12-month earnings vs. a P/E of 6 three months ago

Press Release: ID:nBwbjNP0na