Cherry Hill Mortgage Investment Corporation Announces $10 Million Stock Repurchase Program
September 04 2019 - 4:20PM
Business Wire
Cherry Hill Mortgage Investment Corporation (the “Company”)
(NYSE:CHMI) announced today that its Board of Directors has
authorized the Company to acquire up to $10 million of the
Company’s outstanding common stock (the “Shares”). The
Shares would be acquired from time to time in open market
transactions, in block purchases or otherwise over the next 12
months.
“We believe that the Company’s stock is an attractive investment
at its current valuation and the stock repurchase program further
underscores our belief in our long-term strategy and prospects,”
said Jay Lown, President and Chief Executive Officer of the
Company.
The timing and the amount of any common stock repurchases will
be determined by the Company based on its evaluation of market
conditions, the Company’s liquidity needs, legal and contractual
requirements and restrictions, share price, and other factors. The
repurchase program does not obligate the Company to purchase any
particular number of shares and may be suspended, modified, or
discontinued at any time without prior notice.
About Cherry Hill Mortgage Investment Corporation
Cherry Hill Mortgage Investment Corporation is a real estate
finance company that acquires, invests in and manages residential
mortgage assets in the United States. For additional information,
visit www.chmireit.com.
Forward-Looking Statements
This press release contains forward looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995
and other federal securities laws, including, among others,
statements relating to the Company’s long-term growth opportunities
and strategies, expand its market opportunities and create its own
Excess MSRs and its ability to generate sustainable and attractive
risk-adjusted returns for stockholders. These forward looking
statements are based upon the Company’s present expectations, but
these statements are not guaranteed to occur. For a description of
factors that may cause the Company's actual results or performance
to differ from its forward-looking statements, please review the
information under the heading “Risk Factors” included in the
Company's Annual Report on Form 10-K for the year ended December
31, 2018, and other documents filed by the Company with the
Securities and Exchange Commission.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20190904005770/en/
Cherry Hill Mortgage Investment Corporation Investor Relations
(877) 870-7005 InvestorRelations@chmireit.com
Cherry Hill Mortgage Inv... (NYSE:CHMI)
Historical Stock Chart
From Mar 2024 to Apr 2024
Cherry Hill Mortgage Inv... (NYSE:CHMI)
Historical Stock Chart
From Apr 2023 to Apr 2024