Cherry Hill Mortgage Investment (NYSE:CHMI) posted on Thursday Q4 earnings that edged up sequentially, though missed the Wall Street consensus, as net interest expense eased during the three-month period.
Q4 EPS available for distribution of $0.17, trailing the $0.20 average analyst estimate, inched up from $0.16 in the previous quarter.
Net interest expense for Q4 retreated to $390K from $473K in Q3.
CHMI slipped 2.2% in after-hours trading.
Total expenses were $3.47M compared with $3.37M in the prior quarter.
Common book value per share of $4.53 at Dec. 31, 2023, net of Q4 dividend, vs. $4.99 at Sept. 30, 2023, net of Q3 dividend.
Cherry Hill’s (CHMI) net unrealized gain on its residential mortgage-backed securities portfolio, available-for-sale, was about $29.5M. That compares with an unrealized loss of $14.5M for the quarter ended Sept. 30, 2023.
“As macro volatility persists, we continue to align our portfolio prudently to guard against risks that can have outsized impact on our book value,” said President and CEO Jay Lown.
Conference call at 5:00 p.m. ET.
Earlier, Cherry Hill (CHMI) EPS of -$1.29.