Profile
Sector:
Real EstateIndustry:
MortgageCountry:
United StatesIPO:
29 November 2007Website:
http://www.chimerareit.comNext earnings report:
02 August 2024Last dividends:
28 June 2024Next dividends:
N/APrice
after hours | Wed, 03 Jul 2024 20:49:06 GMTAnalysts recommendations
Institutional Ownership
CIM Latest News
Chimera Investment Corporation's preferred stock has offered a total return of 13.4% in less than 7 months. The company's common stock has faced challenges due to high interest rates, but the preferred stock remains stable and offers a 9.2% yield. Chimera's preferred stock is a safe investment with potential for capital gains if interest rates decrease, making it attractive for income-oriented investors.
Chimera (CIM) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock suggests that there could be more strength down the road.
We take a look at the action in preferreds and baby bonds through the first week of June and highlight some of the key themes we are watching. Most preferred sectors rallied alongside Treasuries, with sector yields just under 7% on a yield-to-worst basis. Mortgage REIT Chimera issued a new bond, now trading at an 8.7% yield-to-worst. We discuss it in the context of its preferreds.
LOS ANGELES--(BUSINESS WIRE)--CIM Group closes $125 million loan to Applied Digital for construction of HPC data center campus in Ellendale, North Dakota.
Chimera (CIM) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #1 (Strong Buy).
Chimera Investment stock is at a 5-year low, but the discount to book value is too wide, making it a cheap investment opportunity. The company primarily invests in mortgage assets, with a focus on residential loans that have a strong track record of performance. Q1 2024 earnings were mixed, but CIM stock price still underprices the fundamental performance of the business.
Chimera Investment Corporation's stock fell to new lows, but its dividend is now well-covered by earnings, making it a compelling risk/reward opportunity. The company's portfolio consists mainly of residential mortgage loans, which provide recurring interest income and have seen a decline in delinquencies. Chimera Investment is selling at a significant discount to book value and has the potential for a stock re-rating in 2024.
Chimera Investment Corporation (CIM) Q4 2023 Earnings Call Transcript
Chimera Investment (CIM) came out with quarterly earnings of $0.13 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.11 per share a year ago.
Chimera Investment Corporation has cut its dividend by 39% and reset it to $0.11 per share, aligning it with the company's earnings trend. The dividend adjustment improves dividend coverage and suggests easing earnings pressure for highly leveraged mortgage trusts. With the central bank signaling a rate pivot in 2024 and a 27% discount to book value, Chimera Investment stock is a recommended buy for passive income investors.
- 1(current)
What type of business is 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 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.
What sector is Chimera Investment in?
Chimera Investment is in the Real Estate sector
What industry is Chimera Investment in?
Chimera Investment is in the Mortgage industry
What country is Chimera Investment from?
Chimera Investment is headquartered in United States
When did Chimera Investment go public?
Chimera Investment initial public offering (IPO) was on 29 November 2007
What is Chimera Investment website?
https://www.chimerareit.com
Is Chimera Investment in the S&P 500?
No, Chimera Investment is not included in the S&P 500 index
Is Chimera Investment in the NASDAQ 100?
No, Chimera Investment is not included in the NASDAQ 100 index
Is Chimera Investment in the Dow Jones?
No, Chimera Investment is not included in the Dow Jones index
When does Chimera Investment report earnings?
The next expected earnings date for Chimera Investment is 02 August 2024