Mergers & Acquisitions ·
Cherry Hill Mortgage Investment Corporation reported second quarter 2026 results, posting GAAP net income of $1.3…
CHMI-PBCherry Hill Mortgage Investment Corp
Cherry Hill Mortgage Investment Corporation reported second quarter 2026 results, posting GAAP net income of $1.3 million ($0.04 per share) and earnings available for distribution of $5.5 million ($0.15 per diluted share). The company also announced a definitive merger agreement with TPG Mortgage Investment Trust (NYSE: MITT), implying a transaction value of $117.5 million, or approximately $3.10 per CHMI common share, representing a 29% premium to the August 7 closing price. Under the deal, CHMI shareholders will receive 0.3063 shares of MITT stock and $0.93 in cash per share, with expected closure in the fourth quarter of 2026. Additionally, Cherry Hill declared a regular quarterly common dividend of $0.10 per share, paid on July 31, 2026 to shareholders of record as of June 30, 2026. The company operates in the real estate finance industry, acquiring and managing residential mortgage assets.