The pending MITT merger at $3.10/share is the primary value driver, not quarterly operating results. Monitor stockholder votes and regulatory approvals for the merger, expected to close in Q4 2026.
Price Chart
Executive Summary
Cherry Hill Mortgage Investment Corp reported Q3 2026 EAD per share of $0.14, in line with the $0.14 consensus, while GAAP net loss was $3.9 million ($0.11 per share) due to large unrealized mark-to-market losses on RMBS. The company remains in a pending merger with MITT, expected to close in Q4 2026, which overshadows quarterly operating results.
Key Financial Metrics
Key Facts
- GAAP net loss applicable to common stockholders of $3.9 million, or $0.11 per share
- EAD attributable to common stockholders of $5.2 million, or $0.14 per diluted share, in line with consensus of $0.14
- Common book value per share declined to $2.73 from $3.16 in the prior quarter
- Aggregate portfolio leverage increased to 5.19x from 5.02x
- Unrestricted cash of $41.2 million at September 30, 2026
- Pending merger with MITT at implied value of $3.10 per share, representing a 29% premium to unaffected price
- Quarterly common dividend maintained at $0.10 per share
Financial Impact
EAD per share of $0.14 in line with consensus; GAAP book value fell 13.6% sequentially to $2.73
Risk Factors
- Merger may not close on time or at all if stockholder approvals or regulatory conditions are not met
- Further book value erosion from RMBS mark-to-market losses could reduce the implied merger consideration
- High portfolio leverage of 5.19x amplifies sensitivity to interest rate moves
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001140361-26-041175 |
| Document: ef20084463_8k.htm | 0001140361-26-041175 |
| Document: 0001140361-26-041175-index-headers.html | 0001140361-26-041175 |
| Document: 0001140361-26-041175-index.html | 0001140361-26-041175 |
| Document: 0001140361-26-041175.txt | 0001140361-26-041175 |
| 8-K Data (Synthetic) | 0001140361-26-041175 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 30, 2026 2d ago | SC 13G | $2.71 | awaiting T+20 | awaiting T+20 | $2.60 (−4.06%) |
Oct 29, 2026 3d ago | 8-K | $2.60 | awaiting T+20 | awaiting T+20 | $2.60 (−0.00%) |
Oct 8, 2026 24d ago | DEFM14A | $2.58 | awaiting T+20 | awaiting T+20 | $2.60 (+0.78%) |
Aug 10, 2026 11w ago | 425 | $2.91 $2.92 | ▲ +0.34% | ▲ +1.40% | $2.60 (−10.65%) |
Aug 10, 2026 11w ago | 425 | $2.79 $2.97 | ▲ +6.45% | ▲ +7.37% | $2.60 (−6.81%) |
Aug 10, 2026 11w ago | 425 | $2.79 $2.97 | ▲ +6.45% | ▲ +7.37% | $2.60 (−6.81%) |
Aug 10, 2026 11w ago | 8-K | $2.79 $2.97 | ▲ +6.45% | ▲ +7.37% | $2.60 (−6.81%) |
Aug 10, 2026 11w ago | 8-K / 425 | $2.79 $2.97 | ▲ +6.45% | ▲ +7.37% | $2.60 (−6.81%) |
Apr 10, 2026 29w ago | 8-K | $20.75 $21.11 | ▲ +1.73% | ▼ −5.99% | $2.60 (−87.47%) |
Feb 25, 2026 35w ago | 8-K | $2.53 $2.63 | ▲ +4.18% | ▲ +10.59% | $2.60 (+2.88%) |
US Market Status
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