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Cherry Hill Mortgage (NYSE:CHMI) Investment Corporation (CHMI) stock has reached a new 52-week low, trading at $2.5, as investors navigate a complex economic landscape. According to InvestingPro data, the company maintains an impressive 23.17% dividend yield and has consistently paid dividends for 13 consecutive years, despite current market challenges. The real estate investment trust, specializing in residential mortgages, has seen its shares significantly retreat from higher levels over the past year, reflecting a broader downturn in the mortgage investment sector. The $81.37M market cap company shows mixed signals, with InvestingPro analysis indicating the stock is currently in oversold territory. The 52-week low marks a stark contrast to the company's performance in the previous year, with CHMI experiencing a 1-year total return of -10.36%. This downturn is indicative of the challenges faced by mortgage REITs, including rising interest rates and tighter lending conditions, which have put pressure on the sector as a whole. InvestingPro subscribers have access to 12 additional key insights about CHMI, including detailed Fair Value analysis and comprehensive technical indicators.
In other recent news, Cherry Hill Mortgage Investment Corporation reported its fourth-quarter 2024 earnings, with earnings per share (EPS) meeting market forecasts at $0.10. The company's revenue forecast was not specified, but it maintained a strong liquidity position with $46 million in unrestricted cash. The real estate investment trust also completed the internalization of management, which is expected to reduce operating expenses in 2025. Additionally, Cherry Hill Mortgage expanded its Board of Directors by appointing Dale S. Hoffman, who brings three decades of experience in fixed income capital markets. The board also adopted a new Executive Severance Plan covering key executive roles, including the CEO and CFO. This plan outlines benefits for qualifying terminations and includes a one-year non-compete clause. The company is positioning itself for a "higher for longer" interest rate environment, with plans to increase leverage as economic clarity improves.
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