CHMI - Cherry Hill Mortgage Investment Corporation: Series B Preferred Offering 11% Yield
2024-07-08 12:59:15 ET
Summary
- Cherry Hill Mortgage Investment Corporation is a real estate investment trust specializing in residential mortgages.
- The company's struggle with higher interest rates led to a net interest income loss in the first quarter.
- Despite challenges, the Series B preferred shares offer the most attractive income investment option for investors.
Introduction
Cherry Hill Mortgage Investment Corporation ( CHMI ) is a real estate investment trust that specializes in the investment of residential mortgages, also known as an mREIT. This space is known for utilizing leverage to grow its investments and create attractive yields for its investors. Back in March, I discussed the upcoming floating rate in the company's Series B preferred shares (CHMI.PB). While the price has risen to slightly above par, I believe the Series B preferred share is still the most attractive income investment between the common and two preferred shares offered by the company....
Cherry Hill Mortgage Investment Corporation: Series B Preferred Offering 11% Yield