Cherry Hill Mortgage Investment Corporation Announces Fourth Quarter and Full Year 2024 Results

About this update from Cherry Hill Mortgage Investment Corporation

[{"type":"text","content":"TINTON FALLS, N.J., March 06, 2025--(BUSINESS WIRE)--Cherry Hill Mortgage Investment Corporation (NYSE: CHMI) ("Cherry Hill" or the "Company") today reported results for the fourth quarter and full year 2024.","length":228,"tagName":"p"},{"type":"text","content":"Fourth Quarter 2024 Highlights","length":30,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"GAAP net income applicable to common stockholders of $9.1 million, or $0.29 per share.","length":86,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Earnings available for distribution ("EAD") attributable to common stockholders of $3.3 million, or $0.10 per diluted share.","length":134,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Common book value per share of $3.82 at December 31, 2024.","length":58,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"GAAP net income applicable to common stockholders, EAD attributable to common stockholders and common book value per share were each impacted by $0.02 per share of special committee-related expenses.","length":199,"tagName":"p","attribs":{}},{"type":"list","items":[{"val":[{"type":"text","content":"The special committee concluded its work in November 2024 after the internalization of management.","length":98,"tagName":"p","attribs":{}}]}],"tagName":"ul","bulletedList":true,"length":98,"olType":false}]},{"val":[{"type":"text","content":"Declared regular common dividend of $0.15 per share; annualized common dividend yield was 17.5% based on the closing sale price of the Company’s common stock as reported by the NYSE on March 5, 2025.","length":199,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Aggregate portfolio leverage stood at 5.3x at December 31, 2024.","length":64,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"As of December 31, 2024, the Company had unrestricted cash of $46.3 million.","length":76,"tagName":"p","attribs":{}}]}],"tagName":"ul","bulletedList":true,"length":914,"olType":false},{"type":"text","content":""Reflecting on 2024, we are pleased to have successfully completed the internalization of our management structure, which strengthens shareholder alignment and will reduce our operating expenses," said Jay Lown, President and CEO of Cherry Hill Mortgage Investment Corporat...

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