Stock of the Day

September 28, 2020

Chimera Investment (CIM)

$11.37
-$0.09 (-0.8%)
Market Cap: $951.78M

About Chimera Investment

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 residential mortgage-backed securities, non-agency residential mortgage-backed securities, agency mortgage-backed securities secured by pools of commercial mortgage loans, business purpose and investor loans, and other real estate related securities. It invests in investment grade, non-investment grade, and non-rated classes. The company qualifies as a real estate investment trust (REIT) for federal income tax purposes. As a REIT, it intends to distribute at least 90% of its taxable income as dividends to shareholders. Chimera Investment Corporation was incorporated in 2007 and is headquartered in New York, New York.

Today's Trend

Chimera Investment Corporation (NYSE: CIM) shares have been under pressure after the mortgage REIT reported second-quarter results that fell short of analyst expectations, while a brokerage reduced its price target.

  • Chimera reported $39 million in second-quarter earnings available for distribution, or $0.46 per adjusted diluted share, which management said supports its $0.45 quarterly common-stock dividend. Net interest income increased to $70.5 million from $66.0 million a year earlier. Chimera Investment Corporation's Second Quarter Earnings Maintain Support for $0.45 Dividend
  • The board declared third-quarter cash dividends on Chimera’s preferred shares, reinforcing the company’s income-return focus. The company also reported $17.75 in GAAP book value per common share and continued mortgage-loan securitization and origination activity. Chimera Investment Declares Q3 Dividends on Preferred Shares
  • Keefe, Bruyette & Woods maintained a “market perform” rating but lowered its price target from $15 to $14. The revised target still implies potential upside from recent trading levels, but the cut signals more cautious expectations. Benzinga analyst update
  • Second-quarter adjusted earnings of $0.46 per share missed the $0.54 consensus estimate, while revenue of $94.77 million was slightly below the $95.30 million forecast. GAAP results showed a $4 million loss attributable to common shareholders, or $0.05 per share, and provisions increased, weighing on sentiment. Chimera Investment's Q2 Earnings Trail Consensus as Provisions Jump
  • GAAP leverage rose to 5.6-to-1 from 5.1-to-1 at the end of 2025, highlighting increased balance-sheet risk even as the dividend remains supported.
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