Cherry Hill Mortgage re-elects board, approves executive pay

Cherry Hill Mortgage Investment Corporation (NYSE:CHMI), a $98.33 million market cap REIT currently trading at $2.95, announced the results of its annual stockholders’ meeting held on June 12, 2025, where shareholders voted on several key issues, including the election of board members and executive compensation. According to InvestingPro data, while the company faced challenges in the last twelve months, analysts expect a return to profitability this year.

Five nominees to the company’s board of directors were elected during the meeting. The elected board members are Jeffrey B. Lown II, Joseph Murin, Sharon Lee Cook, Robert C. Mercer (NASDAQ:MERC) Jr., and Dale Hoffman. The vote counts for each director included a combination of votes for, votes withheld, and broker non-votes.

In addition, the stockholders approved, on a non-binding advisory basis, the compensation of the company’s named executive officers for the year ended December 31, 2024. The proposal received 5,470,169 votes for, 3,460,516 votes against, and 350,608 abstentions, along with 11,218,417 broker non-votes.

Furthermore, the stockholders chose to hold future non-binding advisory votes on the compensation of the company’s named executive officers annually. The decision was made based on votes for every three years, every two years, every year, and abstentions. The board considered the results and decided to continue soliciting an advisory vote on executive compensation annually until the next required vote on the frequency of such advisory votes. Notably, Cherry Hill has maintained its dividend payments for 13 consecutive years, with a current yield of 20.13%.

Lastly, Cherry Hill Mortgage’s stockholders ratified the appointment of Ernst & Young LLP as the company’s independent public auditors for 2025 with 17,470,632 votes for, 2,774,838 votes against, and 254,240 abstentions.

The company, which is incorporated in Maryland and headquartered in Tinton Falls, New Jersey, is a real estate investment trust specializing in residential mortgage assets.

This report is based on a press release statement and provides a summary of the most significant outcomes from Cherry Hill Mortgage Investment Corporation’s recent stockholder meeting.

In other recent news, Cherry Hill Mortgage Investment Corporation reported its first-quarter 2025 earnings, surpassing analysts’ expectations with an earnings per share (EPS) of $0.17, compared to the forecasted $0.15. Despite this positive earnings surprise, the company recorded a GAAP net loss of $9.3 million and a decrease in book value per share to $3.58 from $3.82 at year-end 2024. The company also announced a leadership change, with Apeksha Patel appointed as the interim Chief Financial Officer, replacing Michael Hutchby. Hutchby, who has been with Cherry Hill for 12 years, is leaving to pursue new opportunities. Cherry Hill completed its first quarter as an internally managed real estate investment trust (REIT), which contributed to a reduction in operating expenses. The company plans to focus on deploying capital into Agency RMBS and MSRs amid ongoing market volatility. Additionally, analysts from B. Riley Securities and Janney Montgomery Scott have been actively engaging with the company regarding its strategies and financial outlook.

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