Cherry Hill Mortgage: Performance Concerns Lead To Downgrade Of Preferreds

2026-01-27 14:46:57 ET

Introduction

Cherry Hill Mortgage Investment Corporation ( CHMI ) is an mREIT, or a real estate investment trust that invests in mortgages. In addition to offering a high dividend yield on its common shares, the company also offers two preferred shares. The Series A preferred shares ( CHMI.PR.A ) are fixed and currently yielding over 9.5%. The Series B preferred shares ( CHMI.PR.B ) are floating and currently yielding 10.4%. I wrote about the Series B preferred shares back in March , with a bullish argument. Today, the company’s overall performance has me a bit more concerned; therefore, I am downgrading both preferred shares to a hold....

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