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Cherry Hill: 3Q Earnings Snapshot

·1 min read

FARMINGDALE, N.J. (AP) _ Cherry Hill Mortgage Investment Corp. (CHMI) on Monday reported a loss of $732,000 in its third quarter.

On a per-share basis, the Farmingdale, New Jersey-based company said it had a loss of 19 cents. Earnings, adjusted for investment costs, were 48 cents per share.

The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 33 cents per share.

The residential real estate finance company posted revenue of $10 million in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $7.4 million.

Cherry Hill shares have decreased 32% since the beginning of the year. In the final minutes of trading on Monday, shares hit $9.92, a drop of 28% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CHMI at https://www.zacks.com/ap/CHMI