Cherry Hill: Q1 Earnings Snapshot
May 10, 2021
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FARMINGDALE, N.J. (AP) Cherry Hill Mortgage Investment Corp. (CHMI) on Monday reported first-quarter net income of $21.2 million, after reporting a loss in the same period a year earlier.
The Farmingdale, New Jersey-based company said it had profit of $1.07 per share. Earnings, adjusted for non-recurring gains, came to 21 cents per share.
The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 29 cents per share.
The residential real estate finance company posted revenue of $6 million in the period. Its adjusted revenue was $5.9 million, which also did not meet Street forecasts. Three analysts surveyed by Zacks expected $7.5 million.