Operator
Greetings and welcome to Cherry Hill Mortgage Investment Corporation First Quarter 2021 Earnings Call. [Operator Instructions]
I will now turn the conference over to Rory Rumore of ICR. Thank you. You may begin.
Rory Rumore
Vice President, ICR
We d like to thank you for joining us today for Cherry Hill Mortgage Investment Corporation s first quarter 2021 conference call. In addition to this call, we have filed a press release that was distributed earlier this afternoon, and posted to the Investor Relations section of our website, at www.chmireit.com.
On today s call, management s prepared remarks and answers to your questions may contain forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ from those discussed today. Examples of forward-looking statements include those related to interest income, financial guidance, IRRs; future expected cash flows, as well as prepayment and recapture rates, delinquencies a
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.
Company s 52-week low was at $6.07
Price action over last quarter: down 2.85%
Company Description
Cherry Hill Mortgage Investment Corp operates as a real estate investment trust in the United States. It invests in residential mortgage assets to generate current yields and risk-adjusted total returns for its stockholders over the long term, primarily through dividend distributions and secondarily through capital appreciation. The company reportable segments include investments in Residential mortgage-backed securities (RMBS), Investments in Servicing Related Assets, and All Others. It generates maximum revenue from the RMBS segment in the form of Interest income earned for servicing mortgage loans.
Operator
Greetings and welcome to the Cherry Hill Mortgage Investment Corporation Fourth Quarter and Full Year 2020 Earnings Conference Call. [Operator Instructions
It is now my pleasure to introduce your host, Rory Rumore. Thank you, Rory. You may begin.
Rory Rumore
Vice President, Investor Relations
We d like to thank you for joining us today for Cherry Hill Mortgage Investment Corporation s fourth quarter and full year 2020 conference call. In addition to this call, we have filed a press release that was distributed earlier this afternoon and posted to the Investor Relations section of our website, at www.chmireit.com.
On today s call, management s prepared remarks and answers to your questions may contain forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ from those discussed today. Examples of forward-looking statements, include those related to interest income, financial guidance, IRRs; future expected cash
Cherry Hill Mortgage Investment Corp (CHMI) Q4 2020 Earnings Call Transcript msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.