Cherry Hill Mortgage Investment

Q2 FY2026 EarningsQ2 FY26 GAAP results significantly missed consensus, with GAAP EPS of $0.04 vs. $0.13 expected, primarily due to $4.2M in other losses including derivative and RMBS valuation adjustments. However, Earnings Available for Distribution (EAD) of $0.15 beat the normalized EPS estimate of $0.13, supported by stable net servicing income and net interest income of $4.7M. The defining event of the quarter is the definitive merger agreement with TPG Mortgage Investment Trust (MITT) at an implied value of $3.10 per share, representing a 29% premium to the unaffected price.