Cherry Hill Mortgage Investment Corporation (CHMI) Earnings Call Transcripts

Cherry Hill Mortgage Investment Corporation's Latest Earnings Call - Q1 FY2026

In the first quarter of 2026, Cherry Hill Mortgage Investment Corporation reported a GAAP net loss of $0.05 per diluted share, driven by geopolitical instability and widening mortgage spreads. The company's book value per share decreased to $3.23 from $3.44 at the end of 2025, reflecting a 6.1% decline. Management indicated that they are closely monitoring market conditions and expect continued volatility, but are optimistic about potential stabilization and investment opportunities as geopolitical tensions ease.

Reported metrics

Guidance from management

Management expects continued volatility in the market due to geopolitical tensions but is optimistic about potential stabilization and investment opportunities as conditions improve.

What management said

Anything that we might do from an investment perspective would obviously come at the expense of a different asset class. So clearly, when we evaluate new opportunities, one of the things that we would think about and evaluate closely is the return profile on a risk-return weighted basis and how that might impact shareholder returns. So given the capital is constrained, that's how we would think about it.

Hey, Trevor, it's Apeksha. So our April 30 book value per share has increased nearly 2% from March 31, and that is excluding any second quarter dividend accrual as the Board hasn't met yet to approve it. But I would like to point out that post mid-April, spreads have softened.

What analysts pressed on

Analysts expressed concerns regarding the impact of ongoing geopolitical instability on the company's performance and the potential for further declines in book value. Questions were raised about how Cherry Hill plans to navigate these challenges and manage its portfolio effectively.

Main topics on the call

• Geopolitical Impact on Performance — The ongoing conflict in Iran significantly affected market conditions, leading to widened mortgage spreads and increased volatility. CEO Jay Lown stated, "the environment felt very much like the second half of 2025 in te...
• Book Value Decline — Cherry Hill's book value per common share decreased to $3.23, down 6.1% from the previous quarter. This decline was attributed to the adverse market conditions resulting from geopolitical events.
• Interest Rate Management — Management successfully managed interest rate exposure, which helped mitigate the impact on book value. They noted, "we acted quickly and we believe appropriately to protect the company by focusing on the risks that were...
• Investment Opportunities — Management is exploring additional investment opportunities, emphasizing a risk-return weighted approach. CEO Lown mentioned, "we would think about and evaluate closely the return profile on a risk-return weighted basis....

Read the full Cherry Hill Mortgage Investment Corporation transcript (Q1 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 28 Cherry Hill Mortgage Investment Corporation earnings call transcripts on record, spanning February 27, 2020 to May 7, 2026. Based on this history, Cherry Hill Mortgage Investment Corporation reports quarterly. The most recent call on file is dated May 7, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

CHMI

Exchange

NYSE

Country

US

Sector

Real Estate

Industry

Mortgage Real Estate Investment Trusts (REITs)

Calls on record

28

First call

February 27, 2020

Most recent

May 7, 2026

Reporting cadence

quarterly