Only one of our models could value this stock with confidence, so use it as a guide.
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Valued as a REIT (property company): Price to FFO.
ACCE opinionCherry Hill Mortgage Investment Corporation Common Stock (CHMI)
Fair value
Not available
ACCE price target
$2.50
Rating
Not rated
Horizon
12 months
ACCE price target published on 15 Oct 2026, 00:00 CEST.
Price used: $2.56 at the close on 23 Oct 2026, 22:00 CEST.
Models: Price to FFO.
Fair value: the average of the applicable valuation models (discounted cash flow, multiples, residual income, dividend discount, shareholder yield), each run on the latest financial statements and the market price shown. Opinion columns (fair value, target, rating) are shown apart from the data. Full methodology: acceinvestments.com/data/how-we-value-stocks
Conflicts of interest: The author holds no personal position in this security. General statement
Produced by ACCE Investments (acceinvestments.com)
Data
ACCE score
59
out of 100
Analysts
0% buy
2 covering
P/E
13.4x
forward 9.0x
1-year return
+5.3%
Dividend yield
16.00%
Cherry Hill Mortgage Investment Corporation Common Stock in four questions
Plain answers, details below
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Overview
ACCE thesis
Cherry Hill Mortgage is a small mortgage REIT that invests mainly in agency residential mortgage-backed securities and a smaller book of credit and multifamily loans, funded through repo borrowing and managed externally by its adviser. The attraction is the spread: at a 9.0x forward P/E and a 13.5x trailing multiple, the market is paying little for earnings that have grown 27.6% on the top line, though a 7.2% ROE and a 96M market cap leave little room for error if funding costs move against the book. The near-term driver is the rate path, since a steeper curve and stable repo pricing would widen net interest spread and support the dividend, while any renewed rate volatility would hit book value first. The stock is not in any major index, which keeps coverage thin and can leave it mispriced, but it also limits liquidity. The question for the PM is whether the discount to forward earnings reflects a fair view of leverage and rate risk or an overlooked spread opportunity, and that needs a look at book value trends and the funding mix before anything else.