Cherry Hill Mortgage Investment (NYSE: CHMI) reported Q1 EPS of $0.47, $0.46 better than the analyst estimate of $0.01.

• GAAP net loss applicable to common stockholders of $46.4 million, or $2.79 per share
• Core earnings attributable to common stockholders of $7.8 million, or $0.47 per share
• Book value of $13.73 per share at March 31, 2020, down from $17.35 at December 31, 2019, net of the Company’s first quarter dividend
• Declared regular common dividend of $0.40 per share, which was paid in a combination of 50% cash and 50% common stock; annualized common dividend yield at market close was 24.3% at May 8, 2020
• Aggregate portfolio leverage stood at 5.0x at March 31, 2020
• During the first quarter and prior to the COVID-19 pandemic, the Company repurchased 142,531 shares of its common stock for approximately $1.7 million under the Company’s $10.0 million share repurchase program. In March 2020, the Company suspended additional share repurchase activity to prioritize liquidity
• The Company expects book value as of April 30, 2020 to be down approximately 0.9% from March 31, 2020; aggregate portfolio leverage as of April 30, 2020 was approximately 3.9x
• As of April 30, the Company had unrestricted cash of approximately $90.5 million

“First and foremost, I would like to express my gratitude to our team at Cherry Hill for their tireless work over the past few months to navigate Cherry Hill through the pandemic,” said Jay Lown, President and Chief Executive Officer of Cherry Hill Mortgage Investment Corporation. “Given the unprecedented economic environment, we remain focused on liquidity and risk-adjusted returns as we selectively evaluate investment opportunities.”

For earnings history and earnings-related data on Cherry Hill Mortgage Investment (CHMI) click here.