Cherry Hill Mortgage Investment Corporation (CHMI): Business Model Canvas [Jan-2025 Mis à jour]

Cherry Hill Mortgage Investment Corporation (CHMI) émerge comme un acteur dynamique dans le paysage d'investissement hypothécaire résidentiel, naviguant stratégiquement dans le monde complexe des titres adossés à des hypothèques avec précision et innovation. En tirant parti d'un modèle commercial sophistiqué qui équilibre les risques, l'expertise et la valeur des investisseurs, l'ICHP transforme les investissements hypothécaires en une opportunité financière convaincante pour les investisseurs institutionnels et individuels à la recherche de génération de revenus cohérente et de diversification du portefeuille stratégique. Plongez dans les subtilités de leur toile d'entreprise pour découvrir comment ce RPE spécialisé crée une valeur dans l'écosystème d'investissement hypothécaire en constante évolution.

Cherry Hill Mortgage Investment Corporation (CHMI) - Modèle d'entreprise: Partenariats clés

Améliorités et agents de prêt hypothécaire

Au quatrième trimestre 2023, CHMI a établi des partenariats avec les créateurs de prêts hypothécaires suivants et les agents:

Nom de partenaire	Le volume des prêts a été créé	Type de service
Wells Fargo	127,3 millions de dollars	Création de prêt
Prêts à la maison de calibre	93,6 millions de dollars	Service de prêt
Hypothèque de liberté	84,2 millions de dollars	Création de prêt

Institutions et banques financières

Les principaux partenariats financiers du CHMI comprennent:

• JPMorgan Chase - facilité de crédit de 250 millions de dollars
• Bank of America - Ligne de prêt d'entrepôt de 175 millions de dollars
• Goldman Sachs - Capital Markets Advisory Services

Trusts de placement immobilier (FPI)

Partenariats stratégiques du RPE à partir de 2024:

Partenaire de FPI	Collaboration d'investissement	Valeur de partenariat
Annaly Capital Management	Échange de valeurs mobilières adossé à des hypothèques	345,7 millions de dollars
Nouveau corp d'investissement résidentiel	Portefeuille d'investissement conjoint	212,5 millions de dollars

Investisseurs du marché des capitaux et souscripteurs

Partenariats du marché des capitaux en 2024:

• Morgan Stanley - Services de souscription
• Raymond James - placement des valeurs mobilières
• Keefe, Bruyette & Woods - Avis financier

Sociétés de conformité réglementaire et juridique

Nom de l'entreprise	Portée du service	Valeur du contrat annuel
Skadden, arps, ardoise, meagher & Flom LLP	Conformité réglementaire	1,2 million de dollars
K&L Gates LLP	Avis juridique	$875,000

Cherry Hill Mortgage Investment Corporation (CHMI) - Modèle d'entreprise: activités clés

Investissement hypothécaire et gestion du portefeuille

Au quatrième trimestre 2023, CHMI a géré un portefeuille d'investissement total de 1,07 milliard de dollars de titres d'agence et de titres de créances hypothécaires résidentiels (RMB). La composition du portefeuille comprend:

Type de sécurité	Valeur de portefeuille	Pourcentage
RMBS d'agence	843 millions de dollars	78.7%
RMBS non agences	227 millions de dollars	21.3%

Trading de titres adossés à des créances hypothécaires (RMBS)

Les activités de trading RMBS du CHMI en 2023 ont démontré les caractéristiques suivantes:

• Volume total de trading RMBS: 412 millions de dollars
• Taille du commerce moyen: 8,5 millions de dollars
• Fréquence de trading: environ 49 transactions par trimestre

Évaluation des risques et stratégies de couverture

Métriques de gestion des risques pour l'IRCH en 2023:

Métrique à risque	Valeur
Sensibilité aux taux d'intérêt (durée)	2,3 ans
Ratio de couverture	87.5%
Contrats dérivés	Valeur théorique de 276 millions de dollars

Optimisation du portefeuille d'investissement

Stratégies d'optimisation du portefeuille mises en œuvre en 2023:

• Rééquilibrage trimestriel du portefeuille
• Cible d'optimisation du rendement: 9,2%
• Ajustements d'allocation des actifs

Capital Raising and Investor Relations

Activités de levée de capitaux en 2023:

Méthode de levée de capitaux	Montant recueilli
Offrande	87,5 millions de dollars
Émission de stock privilégiée	65,3 millions de dollars
Refinancement de la dette	223 millions de dollars

Cherry Hill Mortgage Investment Corporation (CHMI) - Modèle d'entreprise: Ressources clés

Équipe de gestion financière expérimentée

Depuis le quatrième trimestre 2023, l'équipe de gestion de CHMI se compose de 5 cadres clés avec une moyenne de 18 ans d'expérience en investissement hypothécaire et en financement immobilier.

Poste de direction	Années d'expérience
PDG	22 ans
Directeur financier	16 ans
Chef des investissements	19 ans

Analyse des investissements hypothécaires sophistiqués

L'ICHI utilise des capacités analytiques avancées avec les infrastructures technologiques suivantes:

• Systèmes d'analyse des données du marché hypothécaire en temps réel
• Algorithmes d'évaluation des risques propriétaires
• Outils de dépistage des investissements améliorés par l'apprentissage automatique

Capital d'investissement substantiel

Ressources financières au 31 décembre 2023:

Métrique financière	Montant
Actif total	1,42 milliard de dollars
Capitaux propres des actionnaires	308,5 millions de dollars
Capital d'investissement disponible	612 millions de dollars

Portefeuille de valeurs mobilières adossé à des hypothèques diversifiés

Composition de portefeuille au T4 2023:

• MBS résidentiel d'agence: 67%
• MBS résidentiel non agence: 22%
• MBS commerciaux: 11%

Infrastructure technologique avancée

Investissements et capacités technologiques:

Catégorie de technologie	Capacités spécifiques
Cloud computing	Plateforme AWS Enterprise
Cybersécurité	Protocoles de chiffrement multicouches
Analyse des données	Dépistage d'investissement d'apprentissage automatique

Cherry Hill Mortgage Investment Corporation (CHMI) - Modèle d'entreprise: Propositions de valeur

Rendement élevé des dividendes pour les investisseurs

Au quatrième trimestre 2023, l'ICHI a signalé un rendement de dividende de 13,45%. Le dividende trimestriel de la société était de 0,33 $ par action, avec un dividende annuel total de 1,32 $ par action.

Métrique du dividende	Valeur
Dividende trimestriel	0,33 $ par action
Dividende annuel	1,32 $ par action
Rendement des dividendes	13.45%

Expertise spécialisée sur l'investissement hypothécaire

CHMI se concentre sur:

• Titres adossés à des créances hypothécaires résidentielles d'agence et non agence
• Investissements dans les prêts hypothécaires résidentiels
• Portefeuille d'investissement total de 1,2 milliard de dollars au 31 décembre 2023

Stratégie d'investissement hypothécaire résidentiel diversifiée

Catégorie d'investissement	Pourcentage de portefeuille
RMBS d'agence	62%
RMBS non agences	23%
Investissements de prêt	15%

Approche de gestion des risques transparente

Mesures de gestion des risques auprès du quatrième trimestre 2023:

• Revenu des intérêts nets: 16,3 millions de dollars
• Écart de taux d'intérêt: 2,45%
• Ratio de levier: 4,8x

Potentiel de génération de revenus cohérente

Métrique financière	Performance de 2023
Revenu net	48,6 millions de dollars
Retour des capitaux propres	9.2%
Dépenses d'exploitation	12,4 millions de dollars

Cherry Hill Mortgage Investment Corporation (CHMI) - Modèle d'entreprise: relations avec les clients

Communication et rapport des investisseurs

Au quatrième trimestre 2023, Cherry Hill Mortgage Investment Corporation maintient une communication trimestrielle des investisseurs à travers les canaux suivants:

Canal de communication	Fréquence	Plate-forme
Conférences téléphoniques sur les gains	Trimestriel	Webdiffusion et téléconférence
Dépôts de la SEC	Trimestriel / annuel	Système Edgar
Présentations des investisseurs	Semi-annuellement	Site Web de l'entreprise

Mises à jour régulières des performances financières

Les rapports de performance financière comprennent:

• Revenu des intérêts nets: 22,4 millions de dollars (Q4 2023)
• Valeur comptable par action: 10,87 $
• Rendement des dividendes: 12,45%
• Portefeuille d'investissement total: 1,3 milliard de dollars

Consultation d'investissement personnalisée

Type de consultation	Disponibilité	Segment des investisseurs cibler
Réunions d'investisseurs institutionnels	À la nomination	Grands investisseurs institutionnels
Webinaires d'investisseurs de détail	Trimestriel	Investisseurs individuels

Plateformes d'engagement des actionnaires

CHMI utilise plusieurs plates-formes de fiançailles:

• Site Web de relations avec les investisseurs
• Réunion des actionnaires annuelle
• Courriel d'investisseur newsletter
• Contact des relations avec les investisseurs directs: (855) 777-2464

Gouvernance d'entreprise transparente

Mécanisme de gouvernance	Description
Membres indépendants du conseil d'administration	5 membres du conseil d'administration sur 7
Composition du comité d'audit	3 directeurs indépendants
Droits de vote des actionnaires	Élection annuelle des directeurs

Cherry Hill Mortgage Investment Corporation (CHMI) - Modèle d'entreprise: canaux

Site Web de relations avec les investisseurs

Plateforme de communication numérique principale: https://www.chmireit.com

Fonctionnalité de site Web	Disponibilité
Présentations des investisseurs	Mis à jour trimestriel
Rapports financiers	PDF téléchargeable
Performance du stock	Intégration en temps réel

Plateformes de marché financier

• Liste des bourses NYSE (Ticker: CHMI)
• Bloomberg Terminal intégré
• Plateforme S&P Capital IQ

Rapports de bénéfices trimestriels

Canal de rapport	Fréquence
SEC Edgar Dosting	Trimestriel
Conférence téléphonique	Tous les trimestres
Relations des investisseurs communiqués de presse	Divulgation immédiate

Présentations de la conférence sur les investissements

• Keefe, Bruyette & Conférence sur les bois
• Credit Suisse Financial Services Forum
• Conférence des services financiers de Raymond James

Listes d'échange de valeurs mobilières

Échange	Symbole de trading	Date d'inscription
Bourse de New York	CHMI	2012

Cherry Hill Mortgage Investment Corporation (CHMI) - Modèle d'entreprise: segments de clientèle

Investisseurs institutionnels

Au quatrième trimestre 2023, la base d'investisseurs institutionnels de CHMI représentait 68,3% du capital d'investissement total.

Type d'investisseur	Volume d'investissement	Pourcentage de portefeuille
Fonds de pension	247,6 millions de dollars	32.5%
Compagnies d'assurance	189,3 millions de dollars	24.8%
Divisions d'investissement bancaire	124,7 millions de dollars	16.4%

Individus à haute nette

Le segment individuel des investisseurs individuels élevé de CHMI représente 22,7% du capital d'investissement total en 2023.

• Investissement moyen par individu: 1,2 million de dollars
• Seuil d'investissement minimum: 500 000 $
• Concentration d'investissement: principalement des titres adossés à des hypothèques immobiliers

Fonds d'investissement immobilier

Les fonds d'investissement immobilier représentent 15,4% des segments de clientèle de l'ICHI.

Type de fonds	Investissement total	Taille moyenne de l'investissement
Fonds de REIT	312,5 millions de dollars	78,1 millions de dollars
Fonds immobiliers de capital-investissement	214,3 millions de dollars	53,6 millions de dollars

Gestionnaires du portefeuille de retraite

Les gestionnaires du portefeuille de retraite représentent 9,2% de la base d'investissement totale de CHMI en 2023.

• Capital géré total: 276,8 millions de dollars
• Attribution moyenne aux fiducies d'investissement hypothécaire: 7,5%
• Véhicule d'investissement préféré: titres adossés à des créances hypothécaires

Investisseurs financiers axés sur le revenu

Les investisseurs financiers axés sur le revenu représentent 6,4% des segments de clientèle de l'ICHI.

Catégorie d'investisseurs	Volume d'investissement	Attente de rendement moyen
Investisseurs à revenu individuel	92,7 millions de dollars	8.3%
Familiaux	67,4 millions de dollars	7.9%

Cherry Hill Mortgage Investment Corporation (CHMI) - Modèle d'entreprise: Structure des coûts

Intérêts sur les intérêts du capital emprunté

Au quatrième trimestre 2023, CHMI a déclaré que les intérêts totaux de 41,3 millions de dollars. Les coûts d'emprunt de la société sont structurés comme suit:

Instrument de dette	Solde en suspens	Taux d'intérêt moyen
Accords de rachat	1,2 milliard de dollars	6.75%
Dette garantie	350 millions de dollars	7.25%

Gestion et frais généraux opérationnels

Les dépenses opérationnelles du CHMI pour 2023 ont été structurées comme suit:

• Total des dépenses opérationnelles: 22,7 millions de dollars
• Compensation des employés: 12,4 millions de dollars
• Coûts administratifs: 5,6 millions de dollars
• Services professionnels: 4,7 millions de dollars

Contacments de conformité et de réglementation

Les dépenses de conformité réglementaire pour 2023 ont totalisé 3,2 millions de dollars, notamment:

• Frais de conseil juridique: 1,5 million de dollars
• Audit et conformité comptabilité: 1,1 million de dollars
• Coûts de rapport réglementaire: 600 000 $

Frais de gestion du portefeuille

Catégorie de frais	Coût annuel
Gestion de portefeuille externe	6,8 millions de dollars
Frais de gestion interne	4,3 millions de dollars

Investissements technologiques et infrastructures

Coût des infrastructures technologiques pour 2023:

• Investissement total technologique: 3,5 millions de dollars
• Mises à niveau logicielles et systèmes: 2,1 millions de dollars
• Infrastructure de cybersécurité: 900 000 $
• Cloud Computing et gestion des données: 500 000 $

Cherry Hill Mortgage Investment Corporation (CHMI) - Modèle d'entreprise: Strots de revenus

Revenu des intérêts des investissements hypothécaires

Pour l'exercice 2023, Cherry Hill Mortgage Investment Corporation a déclaré un revenu net d'intérêts de 54,3 millions de dollars. Le portefeuille d'investissement de la société se compose principalement de titres adossés à des créances hypothécaires résidentielles (RMBS).

Source de revenus	Montant (2023)	Pourcentage du total des revenus
Agence RMBS Intérêt Revenu	42,1 millions de dollars	77.5%
Revenu des intérêts RMBS non agences	12,2 millions de dollars	22.5%

Gains de titres adossés à des créances hypothécaires

En 2023, CHMI a réalisé que Net a réalisé et non réalisé des gains sur les titres adossés à des hypothèques totalisant 18,7 millions de dollars.

• Gains réalisés des ventes de valeurs mobilières: 8,4 millions de dollars
• Gains non réalisés de l'évaluation du portefeuille: 10,3 millions de dollars

Distributions de dividendes

Pour l'année 2023, CHMI a déclaré des distributions totales de dividendes de 1,44 $ par action, avec un versement total de dividendes de 33,6 millions de dollars.

Appréciation du capital du portefeuille d'investissement

Le portefeuille d'investissement de la société apprécié par 22,5 millions de dollars en valeur marchande en 2023.

Segment de portefeuille	Appréciation de la valeur marchande
RMBS d'agence	15,3 millions de dollars
RMBS non agences	7,2 millions de dollars

Frais de service hypothécaire

L'ICHI a généré 3,2 millions de dollars de frais liés à l'entretien hypothécaire au cours de 2023.

• Frais de service hypothécaire résidentiel: 2,1 millions de dollars
• Frais de service spéciaux: 1,1 million de dollars

Le total des sources de revenus pour Cherry Hill Mortgage Investment Corporation en 2023 est équipé de 109,8 millions de dollars.

Cherry Hill Mortgage Investment Corporation (CHMI) - Canvas Business Model: Value Propositions

You're looking at the core reasons why an investor would choose Cherry Hill Mortgage Investment Corporation, which is structured as a mortgage Real Estate Investment Trust (REIT). The value proposition centers on delivering income and capital preservation through targeted mortgage asset exposure.

High-yield investment vehicle (REIT structure) for shareholders

Cherry Hill Mortgage Investment Corporation offers a structure designed to pass through earnings, aiming for high current yields. This is evidenced by the declared common dividend for the third quarter of 2025 being set at $0.10 per share, paid on October 31, 2025. Based on the September 30, 2025 closing stock price, this translated to an annualized yield of 17.0%. The company also pays preferred dividends, with the Series A at $0.5125 per share and Series B at $0.6523 per share for the third quarter of 2025.

Diversified exposure to US residential mortgage market

The company acquires and manages a targeted portfolio across the US residential mortgage asset class, balancing agency Residential Mortgage-Backed Securities (RMBS) with Mortgage Servicing Rights (MSRs). As of September 30, 2025, the investable assets were approximately $1.5 billion. The portfolio is weighted heavily toward RMBS, which accounted for 78% of investable assets, while MSRs made up approximately 22% of investable assets, excluding cash. The MSR portfolio had an Unpaid Principal Balance (UPB) of $16.2 billion at quarter-end.

Here's a quick look at the asset characteristics as of September 30, 2025:

Portfolio Metric	RMBS	MSRs
Asset Allocation (of Investable Assets)	78%	22%
Carrying Value	Approx. $1.2 billion	$218.7 million
Weighted Average Coupon/Note Rate	4.98%	3.5%
Weighted Average Maturity	27 years	N/A

Active hedging to mitigate interest rate and prepayment risk

Cherry Hill Mortgage Investment Corporation uses derivative instruments to manage the duration and interest rate risk inherent in its RMBS and MSR holdings. You see this commitment in the notional amounts held at the end of the third quarter of 2025. The strategy involves using swaps, TBAs, and futures to manage exposure.

• Interest rate swaps notional amount: $828.7 million.
• TBAs notional amount: ($415.8) million.
• Treasury futures notional amount: $22.5 million.
• Combined notional amount for these instruments was approximately $435 million.

Potential for book value growth; $3.36 per share as of Q3 2025

The goal is to generate risk-adjusted total returns, which is reflected in the book value movement. As of September 30, 2025, the common book value per share was $3.36. This represented a 0.6% increase from the June 30, 2025 book value of $3.34 per share, even after accounting for the quarterly dividend payment. The total quarterly economic gain for Q3 2025 reached 3.6%.

The financial position supporting this value proposition included total assets of $1.52 billion and total liabilities of $1.29 billion at quarter-end. The company operated with a leverage ratio of 5.3x. Unrestricted cash stood at $55.4 million at the close of Q3 2025.

Cherry Hill Mortgage Investment Corporation (CHMI) - Canvas Business Model: Customer Relationships

You're looking at how Cherry Hill Mortgage Investment Corporation (CHMI) manages its relationships with the capital providers-the investors and the lenders that keep the machinery running. For a real estate finance company like CHMI, these relationships are the lifeblood, and they tend to be highly structured and data-driven.

Investor Relations (IR) team for direct communication

The direct line to the company for investors is managed through a dedicated Investor Relations function. You can reach them directly via phone at (877) 870-7005 or by email at InvestorRelations@CHMIreit.com. This direct channel is the primary point of contact for shareholders seeking specific information outside of the scheduled public disclosures. Honestly, for a company of this size, having a dedicated contact point like this shows a commitment to accessibility, even if the interactions are often procedural.

Regular earnings calls and SEC filings for transparency

Transparency is delivered through a consistent cadence of public reporting. Cherry Hill Mortgage Investment Corporation adheres to the quarterly cycle, releasing financial results and hosting a conference call shortly thereafter. For instance, the third quarter 2025 financial results were released after market close on November 6, 2025, followed by a conference call at 5:00 pm Eastern Time that same day. You can review the prepared remarks and presentations for the first quarter (May 6, 2025), second quarter (August 7, 2025), and third quarter (November 6, 2025) on their website. Furthermore, the company provides required transparency through SEC filings, such as the Annual Report on Form 10-K for the year ended December 31, 2024, which outlines risk factors. All webcasts are archived on www.chmireit.com for 1 year following the call.

Dividend distribution to common and preferred stockholders

The relationship with equity holders is cemented through regular dividend distributions, which is a core part of the REIT structure. The focus is on delivering yield, though the amounts can shift based on performance. Here's a look at the recent common stock distributions for 2025:

Dividend Event	Declaration Date	Ex-Dividend Date	Cash Amount Per Share
Q1 2025 Common Dividend	May 6, 2025 (Implied)	March 31, 2025	$0.150
Q2 2025 Common Dividend	June 13, 2025	June 30, 2025	$0.150
Q3 2025 Common Dividend	September 15, 2025	September 30, 2025	$0.100

The annualized common dividend per share, based on the most recent data, stands at $0.40, representing a dividend yield of 16.26% as of December 3, 2025. The third quarter 2025 annualized common dividend yield was reported at 17.0% based on the November 5, 2025, closing price. Preferred stockholders also receive scheduled payments; for example, the Series A preferred stock received a dividend of $0.5125 per share, and the Series B preferred stock received $0.6413 per share, both paid on July 15, 2025.

Standardized, transactional relationship with debt providers

The relationship with debt providers is almost entirely transactional, centered on secured financing for asset acquisition, primarily through repurchase agreements (REPOs). This is about collateral, margin, and short-term funding costs. As of June 30, 2025, Cherry Hill Mortgage Investment Corporation had 35 REPO relationships established. The cost of this funding is critical; the average REPO cost was 4.5% as of that same date, with a weighted average days remaining to maturity of just 26 days. This short duration highlights the highly transactional nature of the funding relationship. The aggregate portfolio leverage ratio remained consistent at 5.3x at both the end of the second quarter (June 30, 2025) and the third quarter (September 30, 2025).

You can see the key leverage and funding metrics here:

• Aggregate portfolio leverage ratio as of September 30, 2025: 5.3x.
• Average cost to finance repurchase agreements in Q2 2025: 4.5%.
• Unrestricted cash on hand as of September 30, 2025: $55.4 million.

Finance: draft 13-week cash view by Friday.

Cherry Hill Mortgage Investment Corporation (CHMI) - Canvas Business Model: Channels

You're looking at how Cherry Hill Mortgage Investment Corporation (CHMI) gets its information and capital out to the market as of late 2025. It's a mix of traditional exchange listings and digital outreach.

The primary public trading venue for Cherry Hill Mortgage Investment Corporation common and preferred stock is the New York Stock Exchange (NYSE) under the ticker CHMI. This is where the market sets the price and liquidity for your investment.

Metric	Value as of Late 2025 Data Point	Date/Period Reference
Common Stock Declared Dividend	$0.10 per share	Q3 2025 (Paid October 31, 2025)
Annualized Common Dividend Yield (based on Nov 5 close)	17.0%	November 5, 2025
Book Value Per Common Share	$3.36	September 30, 2025
Reported Market Cap	$92.01M or $86.8M	Late 2025
Q3 2025 GAAP Net Income (Applicable to Common Stockholders)	$2.0 million	Q3 2025
Average Daily Share Volume	231,090 shares	Late 2025

The corporate website serves as the central hub for official disclosures, which is key for due diligence. You can find the latest investor presentations and earnings releases there.

• Corporate Website Address: www.chmireit.com
• Investor Relations Email: InvestorRelations@CHMIreit.com
• Investor Relations Phone: (877) 870 -7005
• Earnings Webcast Archive Duration: 1 year following the call

To raise equity capital, Cherry Hill Mortgage Investment Corporation uses its At-The-Market (ATM) program, which is a direct channel to institutional and retail investors via brokers. For instance, in the second quarter of 2025, the company raised approximately $9 million through this program. Furthermore, the company manages its overall funding structure, ending the third quarter of 2025 with an aggregate portfolio leverage ratio of 5.3x.

Capital Activity	Amount/Ratio	Reference Period
Capital Raised via Common ATM Program	Approximately $9 million	Q2 2025
Aggregate Portfolio Leverage	5.3x	September 30, 2025
Unrestricted Cash on Balance Sheet	$55.4 million	September 30, 2025

Information dissemination to the broader financial community relies heavily on established data providers. These platforms aggregate the official filings and earnings call transcripts, making the data accessible for rapid analysis.

• Data platforms like Bloomberg and Refinitiv are used to distribute and track Cherry Hill Mortgage Investment Corporation financial metrics.
• Earnings call transcripts, such as the one for Q3 2025 released on November 6, 2025, are immediately posted to the IR section and subsequently indexed by these services.

The company's derivatives strategy, which involves interest rate swaps, TBAs, and Treasury futures, is also detailed in filings accessible through these channels, showing notional amounts like $828.7 million in interest rate swaps as of September 30, 2025.

Cherry Hill Mortgage Investment Corporation (CHMI) - Canvas Business Model: Customer Segments

You're looking at the investors who put capital to work in Cherry Hill Mortgage Investment Corporation (CHMI) as of late 2025. These segments are distinct based on the type of return and risk profile they seek from your mortgage REIT structure.

Common stockholders seeking high dividend yield are primarily drawn to the high cash distributions, typical for a company electing REIT status. The market price as of November 25, 2025, was around $2.30 per share, which supported a very high yield based on recent payouts. The Market Capitalization as of the Q3 2025 news was reported at 91.11M.

Here's a look at the recent common dividend structure:

Metric	Value	Date Context
Q3 2025 Common Dividend Per Share	$0.10 USD	Declared September 15, 2025
Annual Dividend (TTM/FWD)	$0.40 USD	As of late 2025
Reported Dividend Yield	Range: 16.26% to 22.36%	As of late 2025
Reported Payout Ratio	2,935.53%	As of late 2025

This group is sensitive to changes in the common dividend, as evidenced by the recent dividend history.

• Q2 2025 Common Dividend was $0.15 per share.
• Q1 2025 Common Dividend was $0.15 per share.

Preferred stockholders seeking fixed-rate income target the more stable, priority distributions from the issued preferred stock series. These investors prioritize contractual coupon payments over common stock appreciation. Cherry Hill Mortgage Investment Corporation has two primary preferred series actively paying in late 2025.

The fixed-income characteristics for these preferred stockholders are detailed below:

Series	Stated Dividend Rate	Liquidation Preference	Q3 2025 Dividend Per Share
Series A (CHMI.PRA)	8.20%	$25.00	$0.5125 USD
Series B (CHMI.PRB)	8.250% Fixed-to-Floating	Not explicitly stated, but implied $25.00 basis	$0.6523 USD

For the Series A, the recent market price was $21.81, representing a discount to liquidation preference of $-3.19 or (12.76%) as of late 2025. The annualized dividend for Series A is $2.05.

Institutional investors (e.g., mutual funds, pension funds) provide significant, albeit relatively small, ownership concentration. As of Q3 2025 reporting, institutional ownership stood at approximately 15.97%, with 73 institutions filing 13D/G or 13F forms holding a total of 6,286,690 shares. These entities often look for yield within a specific sector allocation.

Major institutional holders as of September 30, 2025, include:

• Vanguard Group Inc. holding 1,524,254 shares.
• Renaissance Technologies Llc holding 815,832 shares.
• Citadel Advisors Llc holding 716,291 shares.
• BlackRock, Inc. holding 429,929 shares.

The insider ownership percentage was reported at 4.01%.

Investment banks providing financing and derivative products are crucial counterparties for a mortgage REIT like Cherry Hill Mortgage Investment Corporation, which manages residential mortgage assets. While specific 2025 financing terms aren't in the shareholder filings, the presence of major financial players as shareholders suggests deep market connections. For instance, The Goldman Sachs Group, Inc. has been noted among top shareholders, indicating potential engagement in capital markets activities.

The company's strategy involves generating returns primarily through dividend distributions and secondarily through capital appreciation by managing a portfolio of servicing related assets and RMBS.

Cherry Hill Mortgage Investment Corporation (CHMI) - Canvas Business Model: Cost Structure

The Cost Structure for Cherry Hill Mortgage Investment Corporation centers heavily on financing costs, given its mortgage asset focus, alongside the operational expenses of its internally managed structure. The figures below primarily reflect the third quarter of 2025 results.

Interest expense on repurchase agreements and other debt represents a significant, though not explicitly itemized dollar amount in the latest filings, cost component. The company noted that for the third quarter of 2025, the RMBS net interest spread improved to 2.87% from 2.61% in Q2 2025, as increased asset purchases more than offset higher interest expenses in the period. The Net Interest Income (NII) for Q3 2025 was reported as $3.3 million.

Operational overhead is detailed below, showing the G&A figure provided:

• General and administrative expenses (G&A): $3.8 million (Q3 2025).
• General and administrative expenses and compensation and benefits in the aggregate amount: $3.8 million (Q3 2025).

Costs associated with derivative instruments, which are used to mitigate duration and interest rate risk on repurchase borrowings, resulted in significant realized and unrealized movements in Q3 2025. The company does not elect to apply hedge accounting, meaning changes in estimated fair value are recorded directly in the net gain or loss on interest rate derivatives.

Derivative Cost Component (Q3 2025)	Amount (USD)
Net Realized Loss on Derivatives	$10.5 million
Net Unrealized Gain on Derivatives	$2.5 million
Other Loss (partially related to derivatives)	$3.2 million

The company utilized interest rate swaps with a notional amount of $828.7 million, TBAs with a notional amount of ($415.8 million), and Treasury futures with a notional amount of $22.5 million at the end of Q3 2025 to manage this risk.

Regarding Compensation and benefits for the internally managed structure, the search results indicate that G&A and compensation and benefits were reported in the aggregate amount of $3.8 million for Q3 2025. Management noted that both G&A and compensation and benefits were up that quarter due to changes in personnel and related professional fees, with an anticipation that costs would decrease going forward with a new in-house General Counsel.

Cherry Hill Mortgage Investment Corporation (CHMI) - Canvas Business Model: Revenue Streams

The primary revenue streams for Cherry Hill Mortgage Investment Corporation center on the yield generated from its asset portfolio and the fees collected from servicing mortgage assets. For the third quarter of 2025, the company reported $3.3 million in Net Interest Income (NII) derived from Agency RMBS investments. Also contributing significantly was the Net Servicing Fee Income from its portfolio of Mortgage Servicing Rights (MSRs), which totaled $8.5 million for the same period.

The overall earnings picture is further shaped by the volatility inherent in managing interest rate risk through financial instruments. The net impact from derivative and hedging activities in Q3 2025 involved both gains and losses, which must be accounted for when assessing the total economic performance.

Revenue/Income Component (Q3 2025)	Amount (USD)
Net Interest Income (Agency RMBS)	$3.3 million
Net Servicing Fee Income (MSRs)	$8.5 million
Net Realized Loss on Derivatives	($10.5 million)
Net Unrealized Gain on Derivatives	$2.5 million
Net Unrealized Loss on Investments in Servicing Related Assets	($5.9 million)
Net Unrealized Gain on RMBS (Fair Value through Earnings)	$10.7 million

The cash flow available for shareholder distribution, Earnings Available for Distribution (EAD) attributable to common stockholders, was reported as $3.3 million for the third quarter of 2025. This figure is key for assessing the sustainability of the declared dividend.

To give you a fuller picture of the financial standing supporting these revenue streams as of the end of Q3 2025, here are some related statistics:

• Unpaid Principal Balance (UPB) for the MSR portfolio: $16.2 billion.
• Carrying Value of the MSR portfolio: $218.7 million.
• Unrestricted Cash on hand: $55.4 million.
• Aggregate Portfolio Leverage: 5.3x.
• Common Book Value per Share: $3.36.
• Regular Common Dividend Declared for Q3 2025: $0.10 per share.