Cherry Hill Mortgage Investment Corporation (CHMI) reported second-quarter 2026 GAAP net income applicable to common stockholders of $1.3 million, or $0.04 per basic and diluted share. Earnings available for distribution attributable to common stockholders were $5.5 million, or $0.15 per diluted share.
The company also announced a definitive merger agreement under which TPG Mortgage Investment Trust, Inc. (MITT) will acquire CHMI in a transaction implying a value of $3.10 per CHMI common share, based on MITT’s August 7 closing price.
- Quarter ended June 30, 2026
- GAAP book value $3.16 per diluted share at June 30, net of the second-quarter dividend
- Common dividend $0.10 per share, paid July 31 to holders of record as of June 30
- Unrestricted cash $52.1 million as of June 30
- Aggregate portfolio leverage 5.02x at June 30
- Merger consideration 0.3063 MITT shares and $0.93 in cash per CHMI common share
- Expected closing Fourth quarter of 2026, subject to customary conditions and stockholder approvals
