FARMINGDALE, N.J.--(BUSINESS WIRE)--Cherry Hill Mortgage Investment Corporation ((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 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.