Core Insights - Cherry Hill Mortgage Investment Corp. (CHMI) is positioned to benefit from anticipated Federal Reserve rate cuts through 2026, making it a noteworthy investment opportunity [1][5] Company Overview - Cherry Hill operates as a dual-sleeve strategy REIT, with a portfolio that includes 77% agency residential mortgage-backed securities (RMBS) and 23% mortgage servicing rights (MSRs) as of Q2 2025 [2] - The business model is sensitive to market interest rate changes, which can impact asset valuation positively in favorable conditions [3] Risk Management - Cherry Hill actively manages interest rate risks by utilizing a natural hedging relationship between MSRs and RMBS to mitigate volatility [3] Financial Performance - The company has fully internalized its operating structure, aiming for better alignment between management incentives and shareholder interests, which is expected to lead to annualized cost savings [4] - Cherry Hill anticipates core earnings growth from $12.1 million in 2024 to $20.2 million in 2026, supported by a strong dividend yield of 16.2% [4] Market Opportunities - With the Fed's first rate cut initiated for 2025, further cuts are expected, which will lower borrowing costs, improve refinancing costs, and enhance asset valuations for Cherry Hill [5] - Currently, Cherry Hill trades at a discount across several key valuation metrics, presenting an opportunity for investors before broader market recognition [5]

Core Viewpoint - Four real estate stocks have shown significant declines in momentum despite the Federal Reserve entering a rate-cutting cycle, indicating persistent challenges in the sector's risk appetite and investor sentiment [2][9]. Group 1: Stock Performance - Cherry Hill Mortgage Investment Corp. (CHMI) saw its momentum score decrease from 10.68 to 10.50, a drop of 0.18 percentile points, with a year-to-date decline of 3.82% and a 30.58% drop over the past year [8]. - National Storage Affiliates Trust (NSA) experienced a momentum percentile slip from 10.68 to 9.35, a decrease of 1.33 points, with an 18.98% decline year-to-date and a 37.14% drop over the year [8]. - Sachem Capital Corp. (SACH) also saw its momentum score fall from 10.68 to 9.35, mirroring NSA's decline, with an 11.11% year-to-date drop and a 55.56% decline over the year [8]. - Smith Douglas Homes Corp. (SDHC) had its ranking decrease from 10.11 to 9.01, a reduction of 1.10 percentile points week-on-week, reflecting uncertainty around housing starts and affordability [7]. Group 2: Market Context - The underperformance of these four realty stocks is notable as rate reductions by the Fed typically stimulate the real estate sector by lowering capital costs and boosting demand [9]. - The decline in momentum rankings suggests that company-specific risks, such as credit quality and supply imbalances, are currently outweighing macro-level benefits [9].

Core Viewpoint - Cherry Hill Mortgage Investment Corporation has declared a dividend of $0.10 per share for the third quarter of 2025, payable on October 31, 2025, to shareholders of record as of September 30, 2025 [1] Company Summary - The Board of Directors of Cherry Hill Mortgage Investment Corporation has announced a cash dividend of $0.10 per share on its common stock for Q3 2025 [1] - In addition to the aforementioned dividend, the company has also declared a dividend of $0.5125 per share [1]

Group 1 - The article discusses the author's journey into investing, starting in high school in 2011, focusing on REITs, preferred stocks, and high-yield bonds, which sparked a long-lasting interest in markets and the economy [1] - Recently, the author has been combining long stock positions with covered calls and cash secured puts, indicating a strategic approach to investment [1] - The investment philosophy is fundamentally long-term, with a primary focus on REITs and financials, along with occasional insights on ETFs and other stocks influenced by macroeconomic trends [1]

Core Viewpoint - Cherry Hill Mortgage (CHMI) reported quarterly earnings of $0.1 per share, missing the Zacks Consensus Estimate of $0.12 per share, but showing an increase from $0.08 per share a year ago, indicating a -16.67% earnings surprise [1] Financial Performance - The company posted revenues of $2.64 million for the quarter ended June 2025, surpassing the Zacks Consensus Estimate by 4.39%, compared to revenues of $0.17 million in the same quarter last year [2] - Over the last four quarters, Cherry Hill has surpassed consensus EPS estimates just once and topped consensus revenue estimates only once [2] Stock Performance - Cherry Hill shares have increased approximately 9.5% since the beginning of the year, outperforming the S&P 500's gain of 7.9% [3] Future Outlook - The company's earnings outlook will be crucial for determining the stock's immediate price movement, with current consensus EPS estimates at $0.13 for the coming quarter and $0.55 for the current fiscal year [4][7] - The estimate revisions trend for Cherry Hill was mixed ahead of the earnings release, resulting in a Zacks Rank 3 (Hold) for the stock, indicating expected performance in line with the market [6] Industry Context - The REIT and Equity Trust industry, to which Cherry Hill belongs, is currently in the bottom 33% of over 250 Zacks industries, suggesting that the industry's outlook can significantly impact the stock's performance [8]

Financial Data and Key Metrics Changes - For Q2 2025, the company reported a GAAP net loss applicable to common stockholders of $900,000 or $0.03 per diluted share, with a comprehensive loss of $600,000 or $0.02 per diluted share [17][19] - The book value per common share decreased to $3.34 from $3.58 as of March 31, 2025, reflecting a decline in NAV of approximately $6.2 million or 2.7% [7][19] - Earnings available for distribution (EAD) attributable to common stockholders were $3.2 million or $0.10 per share, impacted by the maturity of a significant hedge [17][19] Business Line Data and Key Metrics Changes - The mortgage servicing rights (MSR) portfolio had an unpaid principal balance (UPB) of $16.6 billion and a market value of approximately $225 million, representing about 43% of equity capital [12] - The residential mortgage-backed securities (RMBS) portfolio accounted for approximately 36% of equity capital, with a prepayment speed of 6.1 CPR [12][14] - The RMBS net interest spread was reported at 2.61%, lower than the previous quarter due to the impact of a maturing swap position [14] Market Data and Key Metrics Changes - The ten-year treasury yield ended the quarter at 4.23%, slightly higher than the previous quarter, with the Agency MBS sector experiencing negative performance due to mortgage basis underperforming [6] - The economic environment showed resilience with low inflation, and the company is closely monitoring the Fed's potential shift towards a rate cut cycle [6][9] Company Strategy and Development Direction - The company entered a strategic partnership with RealGenius LLC, a digital mortgage technology firm, to enhance its investment strategy and explore unique growth opportunities [7][9] - The management indicated a potential shift towards a more risk-on investment strategy as the economic environment stabilizes, while maintaining strong liquidity and prudent leverage [9][10] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the economic recovery and the potential for rate cuts by the Fed, which could positively impact refinancing incentives and portfolio performance [9][13] - The company plans to proactively manage its portfolio and adjust its capital structure to enhance shareholder value through improved performance and earnings [15] Other Important Information - The company raised approximately $9 million of capital through its common ATM program and ended the quarter with $58 million of unrestricted cash [7] - Operating expenses for the quarter were reported at $3.4 million, and dividends were declared for both common and preferred stockholders [20] Q&A Session Summary Question: What caused the lower servicing costs this quarter? - Management noted that lower servicing costs were due to deboarding fees from a prior quarter related to the Mr. Cooper acquisition, and a decrease in loan count [24] Question: What is the expectation for leverage moving forward? - Management expects leverage to gradually increase as the year progresses, influenced by economic conditions and potential Fed actions [26][28] Question: Can you provide details on the partnership with RealGenius and its projections? - The partnership is expected to be profitable within the first six to seven months, with dividends anticipated within the first year [33] Question: Are there any updates on the current book value? - The book value per share as of July 31 is expected to remain flat compared to June 30, prior to any third-quarter dividend accrual [39]

Financial Performance - The company's book value per common share was $3.34, representing a 6.7% decrease net of the quarterly dividend[7] - A dividend of $0.15 per share was declared and paid[7] - The company experienced a 2.5% total quarterly economic loss[7] - GAAP net loss of $0.03 per share was reported[7] - Earnings Available for Distribution (EAD) was $0.10 per share[7] Portfolio Metrics - The aggregate portfolio leverage ratio was 5.3x[7] - The weighted average CPR for RMBS was 6.1%[7] - The net interest spread for RMBS was 2.6%[7] - The net CPR for MSRs was 6.0%[7] MSR Portfolio - Investments in MSRs totaled $224.6 million related to approximately $16.6 billion in UPB of underlying Fannie Mae and Freddie Mac loans as of June 30, 2025[22]

[Second Quarter 2025 Results Announcement](index=1&type=section&id=Second%20Quarter%202025%20Results%20Announcement) Cherry Hill Mortgage Investment Corporation announced Q2 2025 results, featuring a strategic partnership, equity raise, and key financial metrics [Second Quarter 2025 Highlights](index=1&type=section&id=Second%20Quarter%202025%20Highlights) The company reported Q2 2025 highlights including a strategic partnership, successful equity raise, and key financial performance metrics - CHMI Solutions, Inc., a subsidiary of CHMI, entered into a strategic partnership and financing with Real Genius LLC, a Florida-based digital mortgage technology company[4](index=4&type=chunk)[6](index=6&type=chunk) - Accessed at-the-market equity program, generating additional proceeds of approximately **$8.9 million**[6](index=6&type=chunk) Key Financial Metrics (Q2 2025) | Metric | Value | | :----------------------------------- | :---------- | | GAAP Net Loss Applicable to Common Stockholders | $(0.9) million | | GAAP Net Loss Per Share | $(0.03) | | Earnings Available for Distribution (EAD) | $3.2 million | | EAD Per Diluted Share | $0.10 | | Common Book Value per Share (June 30, 2025) | $3.34 | | Regular Common Dividend Declared | $0.15 per share | | Annualized Common Dividend Yield | 20.8% | | Aggregate Portfolio Leverage (June 30, 2025) | 5.3x | | Unrestricted Cash (June 30, 2025) | $58.0 million | [Financial Performance](index=2&type=section&id=Financial%20Performance) This section details the company's consolidated income, comprehensive income, and earnings available for distribution for the quarter [Consolidated Statements of Income (Loss)](index=2&type=section&id=Consolidated%20Statements%20of%20Income%20%28Loss%29) Q2 2025 saw a GAAP net loss of $0.9 million, a significant improvement from Q1, driven by higher net interest and servicing income and derivative gains Key Income Statement Figures (Three Months Ended, in thousands) | Metric | June 30, 2025 | March 31, 2025 | QoQ Change | | :----------------------------------- | :-------------- | :------------- | :----------- | | Net interest income | $2,641 | $2,166 | +$475 | | Net servicing income | $8,981 | $8,428 | +$553 | | Realized loss on RMBS, net | $(2,053) | $(3,992) | +$1,939 | | Realized gain on derivatives, net | $14,838 | $4,634 | +$10,204 | | Unrealized gain on RMBS, net | $3,508 | $14,780 | -$11,272 | | Unrealized loss on derivatives, net | $(19,147) | $(22,741) | +$3,594 | | Total Income (Loss) | $6,037 | $(3,050) | +$9,087 | | Total Expenses | $3,355 | $3,769 | -$414 | | Net Income (Loss) | $1,561 | $(6,992) | +$8,553 | | Net Loss Applicable to Common Stockholders | $(935) | $(9,313) | +$8,378 | | Net Loss Per Share (Diluted) | $(0.03) | $(0.29) | +$0.26 | [Comprehensive Income (Loss)](index=3&type=section&id=Comprehensive%20Income%20%28Loss%29) The company reported comprehensive income of $1.9 million for Q2 2025, a significant improvement from Q1, driven by net income and RMBS unrealized gains - Net unrealized gain on the Company's RMBS portfolio classified as available-for-sale, reported in accumulated other comprehensive income, was approximately **$0.3 million**[8](index=8&type=chunk) Comprehensive Income (Loss) (Three Months Ended, in thousands) | Metric | June 30, 2025 | March 31, 2025 | QoQ Change | | :----------------------------------- | :-------------- | :------------- | :----------- | | Net Income (Loss) | $1,561 | $(6,992) | +$8,553 | | Unrealized gain on RMBS, available-for-sale, net | $320 | $6,850 | -$6,530 | | Comprehensive income (loss) | $1,881 | $(142) | +$2,023 | | Comprehensive loss attributable to common stockholders | $(616) | $(2,593) | +$1,977 | [Earnings Available for Distribution (EAD)](index=4&type=section&id=Earnings%20Available%20for%20Distribution%20%28EAD%29) EAD, a non-GAAP measure, provides insight into operational performance, with Q2 2025 EAD attributable to common stockholders at $3.2 million [EAD Definition and Limitations](index=4&type=section&id=EAD%20Definition%20and%20Limitations) EAD is a non-GAAP measure adjusting GAAP net income for specific items, but it has significant limitations and should not substitute GAAP net income - EAD is a non-GAAP financial measure defined as GAAP net income (loss), excluding realized/unrealized gain (loss) on RMBS, derivatives, MSRs (net of estimated amortization), and related tax expense[15](index=15&type=chunk) - EAD includes interest rate swap periodic interest income and drop income on TBA dollar roll transactions[15](index=15&type=chunk) - EAD is adjusted to exclude outstanding LTIP-OP Units and dividends paid on preferred stock[15](index=15&type=chunk) - EAD has significant limitations, including the exclusion of realized and unrealized gains (losses), and may not be comparable to similarly titled measures of other issuers due to differing methodologies[16](index=16&type=chunk) [EAD Reconciliation](index=5&type=section&id=EAD%20Reconciliation) EAD attributable to common stockholders for Q2 2025 was $3.2 million, a decrease from Q1 2025, primarily due to derivative and MSR adjustments EAD Reconciliation (Three Months Ended, in thousands) | Metric | June 30, 2025 | March 31, 2025 | QoQ Change | | :----------------------------------- | :-------------- | :------------- | :----------- | | Net Income (Loss) | $1,561 | $(6,992) | +$8,553 | | Realized loss on RMBS, net | $2,053 | $3,992 | -$1,939 | | Realized loss (gain) on derivatives, net | $(9,576) | $2,782 | -$12,358 | | Unrealized gain on RMBS, net | $(3,508) | $(14,780) | +$11,272 | | Unrealized loss on derivatives, net | $19,147 | $22,741 | -$3,594 | | Unrealized gain on investments in MSRs, net of estimated MSR amortization | $(5,473) | $(719) | -$4,754 | | Tax expense on realized and unrealized gain on MSRs | $1,607 | $957 | +$650 | | Total EAD | $5,811 | $7,981 | -$2,170 | | EAD Attributable to Common Stockholders | $3,247 | $5,376 | -$2,129 | | EAD Attributable to Common Stockholders, per Diluted Share | $0.10 | $0.17 | -$0.07 | [Portfolio Overview](index=3&type=section&id=Portfolio%20Overview) This section provides an overview of the company's Mortgage Servicing Rights (MSR) and Residential Mortgage-Backed Securities (RMBS) portfolios, along with hedging activities [Mortgage Servicing Rights (MSR) Portfolio](index=3&type=section&id=Mortgage%20Servicing%20Rights%20%28MSR%29%20Portfolio) The MSR portfolio generated **$9.0 million** in net servicing fee income, with an unpaid principal balance of **$16.6 billion** at quarter-end - Net servicing fee income for Q2 2025 was **$9.0 million**[10](index=10&type=chunk) MSR Portfolio Metrics (June 30, 2025) | Metric | Value | | :----------------------------------- | :-------------- | | Unpaid Principal Balance | $16.6 billion | | Carrying Value | $224.6 million | [Residential Mortgage-Backed Securities (RMBS) Portfolio](index=3&type=section&id=Residential%20Mortgage-Backed%20Securities%20%28RMBS%29%20Portfolio) The RMBS portfolio had a book value of **$1.1 billion** and a carrying value of **$1.2 billion**, with a net interest spread of **2.61%** RMBS Portfolio Metrics (June 30, 2025) | Metric | Value | | :----------------------------------- | :-------------- | | Book Value | ~$1.1 billion | | Carrying Value | ~$1.2 billion | | Net Interest Spread | 2.61% | | Weighted Average Coupon | 4.97% | | Weighted Average Maturity | 28 years | [Hedging Activities](index=3&type=section&id=Hedging%20Activities) Cherry Hill utilized interest rate swaps, TBAs, and Treasury futures to mitigate duration and interest rate risks for its RMBS and MSR portfolios - Cherry Hill used interest rate swaps, TBAs, and Treasury futures to mitigate duration risk and interest rate risk associated with its RMBS and MSRs[12](index=12&type=chunk) Hedging Instruments Notional Amounts (June 30, 2025) | Instrument | Notional Amount | | :----------------------------------- | :-------------- | | Interest Rate Swaps | $799.7 million | | TBAs | $(413.5) million | | Treasury Futures | $60.2 million | [Dividends](index=4&type=section&id=Dividends) This section outlines the quarterly dividend declarations for common and preferred stockholders for Q2 2025 [Dividend Declarations](index=4&type=section&id=Dividend%20Declarations) The Board of Directors declared quarterly dividends for common and preferred stockholders for Q2 2025, paid in July 2025 Q2 2025 Dividend Declarations | Stock Type | Dividend Per Share | Payment Date | Record Date | | :----------------------------------- | :----------------- | :----------- | :---------- | | Common Stock | $0.15 | July 31, 2025 | June 30, 2025 | | 8.20% Series A Cumulative Redeemable Preferred Stock | $0.5125 | July 15, 2025 | June 30, 2025 | | 8.250% Series B Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock | $0.6413 | July 15, 2025 | June 30, 2025 | [Company Information & Investor Resources](index=5&type=section&id=Company%20Information%20%26%20Investor%20Resources) This section provides details on additional information, investor resources, company overview, forward-looking statements, and contact information [Additional Information](index=5&type=section&id=Additional%20Information) Further financial details are available in the Company's Q2 2025 Form 10-Q and an investor presentation on its website - Additional information regarding financial condition and results of operations can be found in the Quarterly Report on Form 10-Q for the quarter ended June 30, 2025, filed with the SEC on August 7, 2025[19](index=19&type=chunk) - An investor presentation with supplemental information has been posted to the Investor Relations section of Cherry Hill's website, www.chmireit.com[19](index=19&type=chunk) [Webcast and Conference Call](index=6&type=section&id=Webcast%20and%20Conference%20Call) Management hosted a conference call on August 7, 2025, to discuss results, with a webcast and archived recording available online - The Company's management hosted a conference call on August 7, 2025, at 5:00 pm Eastern Time[20](index=20&type=chunk) - A live webcast of the conference call and an online archive will be available in the investor relations section of the Company's website at www.chmireit.com[21](index=21&type=chunk) Conference Call Details | Detail | Value | | :----------------------------------- | :-------------- | | Domestic Dial-in | 1-800-715-9871 | | International Dial-in | 1-646-307-1963 | | Conference ID | 7589822 | [About Cherry Hill Mortgage Investment Corporation](index=6&type=section&id=About%20Cherry%20Hill%20Mortgage%20Investment%20Corporation) Cherry Hill Mortgage Investment Corporation is a real estate finance company focused on acquiring, investing in, and managing US residential mortgage assets - Cherry Hill Mortgage Investment Corporation is a real estate finance company[22](index=22&type=chunk) - The Company acquires, invests in, and manages residential mortgage assets in the United States[22](index=22&type=chunk) [Forward-Looking Statements](index=6&type=section&id=Forward-Looking%20Statements) This section contains cautionary statements regarding forward-looking information, noting that actual results may differ due to risk factors in SEC filings - This press release contains forward-looking statements regarding the Company's long-term growth opportunities, strategies, market expansion, and ability to generate attractive risk-adjusted returns[23](index=23&type=chunk) - These forward-looking statements are based upon present expectations but are not guaranteed to occur[23](index=23&type=chunk) - Factors that may cause actual results or performance to differ are described under "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2024, and other SEC filings[23](index=23&type=chunk) [Contact Information](index=6&type=section&id=Contact%20Information) Investor relations contact details are provided for inquiries Investor Relations Contact | Detail | Value | | :----------------------------------- | :-------------- | | Phone | (877) 870-7005 | | Email | InvestorRelations@chmireit.com |

[Cautionary Statement Concerning Forward-Looking Information](index=5&type=section&id=CAUTIONARY%20STATEMENT%20CONCERNING%20FORWARD-LOOKING%20INFORMATION) Forward-looking statements are subject to substantial risks and uncertainties regarding future business and financial outcomes - The Company's forward-looking statements are subject to **substantial risks and uncertainties**, many of which are difficult to predict and generally beyond its control, covering future business results, financial condition, liquidity, operations, plans, and objectives[41](index=41&type=chunk) - Key forward-looking subjects include **investment objectives**, **business strategy**, internal management ability after November 2024, legal claims, capital raising, financing, leverage, investment timing, Servicing Related Assets acquisition, distribution capacity, market competition, hedging strategies, market/economic trends, regulatory actions, interest rate changes, REIT qualification, and projected prepayment/default rates[42](index=42&type=chunk) - Actual results may differ materially due to factors such as **capital market volatility**, **economic conditions**, **regulatory developments**, **inflationary trends**, changes in business strategy, investment opportunities, operational and regulatory risks, additional costs from management agreement termination, and changes in interest rates or the general economy[45](index=45&type=chunk) [PART I. FINANCIAL INFORMATION](index=7&type=section&id=PART%20I.%20FINANCIAL%20INFORMATION) This part presents the Company's unaudited consolidated financial statements and management's financial analysis [Item 1. Consolidated Financial Statements](index=7&type=section&id=Item%201.%20Consolidated%20Financial%20Statements) This section presents the Company's unaudited consolidated financial statements and detailed notes on its financial position [Consolidated Balance Sheets](index=7&type=section&id=Consolidated%20Balance%20Sheets) Total assets, liabilities, and equity slightly decreased, with RMBS and Servicing Related Assets as key assets | Metric (in thousands) | June 30, 2025 | December 31, 2024 | Change | % Change | | :-------------------- | :------------ | :---------------- | :----- | :------- | | **Assets** | | | | | | RMBS, at fair value | $1,152,443 | $1,122,420 | $30,023 | 2.67% | | Servicing Related Assets, at fair value | $224,601 | $233,658 | $(9,057) | -3.87% | | Cash and cash equivalents | $58,042 | $46,313 | $11,729 | 25.32% | | Restricted cash | $9,953 | $24,446 | $(14,493) | -59.29% | | Derivative assets | $12,105 | $30,048 | $(17,943) | -59.72% | | Receivables and other assets | $33,515 | $34,290 | $(775) | -2.26% | | **Total Assets** | **$1,490,659** | **$1,491,175** | **$(516)** | **-0.03%** | | **Liabilities** | | | | | | Repurchase agreements | $1,072,294 | $1,077,257 | $(4,963) | -0.46% | | Derivative liabilities | $10,902 | $3,869 | $7,033 | 181.78% | | Notes payable | $149,381 | $151,226 | $(1,845) | -1.22% | | Dividends payable | $7,643 | $7,011 | $632 | 9.01% | | Accrued expenses and other liabilities | $18,026 | $18,190 | $(164) | -0.90% | | **Total Liabilities** | **$1,258,246** | **$1,257,553** | **$693** | **0.06%** | | **Stockholders' Equity** | | | | | | Total Stockholders' Equity | $232,413 | $233,622 | $(1,209) | -0.52% | [Consolidated Statements of Income (Loss)](index=8&type=section&id=Consolidated%20Statements%20of%20Income%20(Loss)) Net income for Q2 2025 reversed prior quarter's loss, but H1 2025 showed a net loss, driven by unrealized losses on derivatives | Metric (in thousands) | 3 Months Ended June 30, 2025 | 3 Months Ended June 30, 2024 | 6 Months Ended June 30, 2025 | 6 Months Ended June 30, 2024 | | :-------------------- | :--------------------------- | :--------------------------- | :--------------------------- | :--------------------------- | | Interest income | $14,813 | $13,677 | $29,614 | $26,418 | | Interest expense | $12,172 | $13,510 | $24,807 | $27,158 | | Net interest income (expense) | $2,641 | $167 | $4,807 | $(740) | | Servicing fee income | $10,933 | $12,349 | $21,906 | $25,240 | | Servicing costs | $1,952 | $3,455 | $4,497 | $6,089 | | Net servicing income | $8,981 | $8,894 | $17,409 | $19,151 | | Realized loss on RMBS, net | $(2,053) | $(1,859) | $(6,045) | $(1,859) | | Realized gain on derivatives, net | $14,838 | $9,430 | $19,472 | $15,682 | | Unrealized gain (loss) on RMBS, measured at fair value through earnings, net | $3,508 | $(4,440) | $18,288 | $(12,761) | | Unrealized gain (loss) on derivatives, net | $(19,147) | $(3,042) | $(41,888) | $9,282 | | Unrealized loss on investments in Servicing Related Assets | $(2,731) | $(3,312) | $(9,056) | $(6,569) | | Total Income | $6,037 | $6,579 | $2,987 | $22,927 | | Total Expenses | $3,355 | $5,131 | $7,124 | $8,720 | | Net Income (Loss) | $1,561 | $784 | $(5,431) | $12,840 | | Net Income (Loss) Applicable to Common Stockholders | $(935) | $(1,864) | $(10,248) | $7,802 | | Basic EPS | $(0.03) | $(0.06) | $(0.32) | $0.26 | | Diluted EPS | $(0.03) | $(0.06) | $(0.32) | $0.26 | [Consolidated Statements of Comprehensive Income (Loss)](index=9&type=section&id=Consolidated%20Statements%20of%20Comprehensive%20Income%20(Loss)) Comprehensive income was positive for Q2 and H1 2025, reversing prior year's loss, driven by net income and unrealized gains on RMBS | Metric (in thousands) | 3 Months Ended June 30, 2025 | 3 Months Ended June 30, 2024 | 6 Months Ended June 30, 2025 | 6 Months Ended June 30, 2024 | | :-------------------- | :--------------------------- | :--------------------------- | :--------------------------- | :--------------------------- | | Net income (loss) | $1,561 | $784 | $(5,431) | $12,840 | | Unrealized gain (loss) on RMBS, available-for-sale, net | $320 | $(3,734) | $7,170 | $(10,330) | | Net other comprehensive income (loss) | $320 | $(3,734) | $7,170 | $(10,330) | | Comprehensive income (loss) | $1,881 | $(2,950) | $1,739 | $2,510 | | Comprehensive loss attributable to common stockholders | $(616) | $(5,522) | $(3,209) | $(2,324) | [Consolidated Statements of Changes in Stockholders' Equity](index=10&type=section&id=Consolidated%20Statements%20of%20Changes%20in%20Stockholders'%20Equity) Total stockholders' equity slightly decreased, influenced by common stock issuances, net loss, and other comprehensive income | Metric (in thousands) | June 30, 2025 | December 31, 2024 | Change | | :-------------------- | :------------ | :---------------- | :----- | | Common Stock Shares | 36,045,092 | 31,625,073 | 4,420,019 | | Common Stock Amount | $365 | $322 | $43 | | Additional Paid-in Capital | $394,004 | $381,069 | $12,935 | | Accumulated Deficit | $(270,241) | $(249,643) | $(20,598) | | Accumulated Other Comprehensive Loss | $(100) | $(7,270) | $7,170 | | Total Cherry Hill Mortgage Investment Corporation Stockholders' Equity | $229,892 | $230,342 | $(450) |

Company Performance - Cherry Hill Mortgage (CHMI) has returned 12.5% year-to-date, outperforming the average Finance sector gain of 5.7% [4] - Over the past 90 days, the Zacks Consensus Estimate for CHMI's full-year earnings has increased by 5.8%, indicating improved analyst sentiment and earnings outlook [4] Industry Context - Cherry Hill Mortgage is part of the REIT and Equity Trust industry, which has seen an average loss of 0.9% year-to-date, highlighting CHMI's relative strength in this sector [6] - The Finance sector, which includes 857 individual stocks, ranks 5 in the Zacks Sector Rank, indicating a strong overall performance [2] Zacks Rank - Cherry Hill Mortgage currently holds a Zacks Rank of 2 (Buy), suggesting it is positioned to outperform the broader market in the near term [3] - Another stock in the Finance sector, Commonwealth Bank of Australia Sponsored ADR (CMWAY), also has a Zacks Rank of 2 (Buy) and has returned 23.5% year-to-date [5]