Streetbeat News

CIM

Chimera Investment Corporation

https://www.chimerareit.com

Industry

REIT - Mortgage

Chimera Investment Corporation operates as a real estate investment trust (REIT) in the United States. The company, through its subsidiaries, invests in a portfolio of mortgage assets, including residential mortgage loans, agency and non-agency residential mortgage-backed securities, agency mortgage-backed securities secured by pools of residential, commercial mortgage loans, and other real estate related securities. It has elected to be taxed as a REIT. In addition, the company invests in investment, non-investment grade, and non-rated classes. The company was incorporated in 2007 and is based in New York, New York.

Open

15.03

Mkt cap

1.2B

Volume

386K

High

15.28

P/E Ratio

4.54

52-wk high

16.89

Low

15.00

Div yield

0.09

52-wk low

11.29

Chimera's preferred share CIM-A, with an 8% coupon rate and 8.6% strip yield, is considered unattractive above $23.20 due to limited upside and better alternatives. Baby bonds from Chimera offer superior benefits, including mandatory interest payments and over 9% yield to maturity.

Portfolio Pulse from

December 07, 2024 | 12:30 pm

Chimera Investment Corporation's preferred stock is recommended for its 10% dividend yield and safety margin, achieving a 46% total return since April 2023. With cooling inflation and decreasing interest rates, it remains attractive with a 10.1% floating yield.

Portfolio Pulse from

December 03, 2024 | 9:00 pm

Chimera Investment Corporation has completed its acquisition of Palisades Group, a U.S.-based alternative asset manager specializing in residential real estate credit. Jack Macdowell, Jr., co-founder and CIO of Palisades, is now Chimera's CIO.

Portfolio Pulse from

December 03, 2024 | 11:45 am

Chimera Investment is showing signs of a potential turnaround with positive financial metrics in Q3, despite earnings not covering the dividend. Recent acquisitions and leadership changes indicate progress, but integration risks persist.

Portfolio Pulse from

November 08, 2024 | 10:15 am

Chimera Investment Corporation (CIM) held its Q3 2024 earnings call, discussing financial performance and future outlook.

Portfolio Pulse from

November 06, 2024 | 4:00 pm

Chimera Investment (CIM) reported Q3 earnings of $0.36 per share, missing the Zacks Consensus Estimate of $0.37. This is a decrease from $0.39 per share a year ago.

Portfolio Pulse from

November 06, 2024 | 2:15 pm

Chimera has declared its fourth quarter 2024 cash dividends for its Series A and Series B preferred stocks, with payments scheduled for December 30, 2024.

Portfolio Pulse from

November 06, 2024 | 12:00 pm

Chimera Investment Corporation reported its Q3 2024 earnings, with a GAAP net income of $1.39 per diluted share and earnings available for distribution of $0.36 per share. The GAAP book value was $22.35 per share, with an economic return of 6.82% for the quarter.

Portfolio Pulse from

November 06, 2024 | 12:00 pm

Chimera Investment announced that its transaction with Palisades is expected to expand its residential credit reach and positively impact earnings by 2025.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2024 | 10:42 am

Chimera Investment Corporation has agreed to acquire Palisades for $30 million in cash, with an additional potential earnout of up to $20 million over five years, contingent on financial targets. Jack Macdowell, Jr. will become Chimera's Chief Investment Officer.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2024 | 10:42 am

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