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TINTON FALLS, N.J. - Cherry Hill Mortgage Investment Corporation (NYSE:CHMI), a $100 million market cap mortgage investment firm currently trading at $3 per share, has announced the appointment of Apeksha Patel as the Interim Chief Financial Officer, effective June 22, 2025. She will be taking over from Michael Hutchby, who has decided to leave the company on the same date to explore new professional opportunities. According to InvestingPro data, the company maintains one of the highest dividend yields in its sector at 20%.
Patel, who has been with Cherry Hill since August 2017, previously served as the company’s Controller. Her tenure in that role began in June 2019, after her initial position as Assistant Controller. Before her time at Cherry Hill, Patel gained experience at Mazars USA LLP and SB Partners LLP. She is a licensed Certified Public Accountant in New Jersey and holds a Bachelor of Commerce degree from Ryerson University.
Jay Lown, President and CEO of Cherry Hill, expressed confidence in Patel’s capabilities to ensure a smooth transition, citing her financial expertise and familiarity with the company’s financial team. Lown also acknowledged Hutchby’s 12 years of service, particularly his contributions during his six years as CFO, and wished him well in his future pursuits.
Cherry Hill Mortgage Investment Corporation specializes in the acquisition, investment, and management of residential mortgage assets in the United States, generating annual revenues of $27.5 million. This leadership change is part of the company’s ongoing operations and long-term strategy. InvestingPro analysis shows the company has maintained dividend payments for 13 consecutive years, with analysts projecting a return to profitability this year. For deeper insights into Cherry Hill’s financial health and future prospects, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro.
While the press release includes forward-looking statements regarding the company’s growth and strategic plans, such as potential cost savings from internal management, creation of Excess MSRs, and generating sustainable returns for stockholders, it also cautions that these are not guaranteed to occur and are subject to various factors that may affect the actual results. The company’s overall financial health score is rated as "FAIR" by InvestingPro, with analysts maintaining a positive consensus on the stock’s future performance.
This information is based on a press release statement from Cherry Hill Mortgage Investment Corporation.
In other recent news, Cherry Hill Mortgage Investment Corp reported its first-quarter 2025 earnings, exceeding analysts’ expectations with an earnings per share (EPS) of $0.17, compared to the forecasted $0.15. Despite this positive earnings surprise, the company reported a GAAP net loss of $9.3 million, which contributed to concerns among investors. The book value per share decreased to $3.58 from $3.82 at the end of 2024, reflecting challenges in the market environment. Cherry Hill completed its transition to an internally managed REIT during this quarter, which helped reduce operating expenses. The company anticipates continued market volatility and plans to focus on deploying capital into Agency RMBS and MSRs. Analysts project future EPS growth, with expectations of $0.12 for Q2 2025 and $0.14 for Q3 2025. The company paid a dividend of $0.15 per common share for the first quarter. Cherry Hill’s management highlighted the macroeconomic challenges and expressed a cautious approach in navigating market uncertainties.
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