Chimera Investment: Re-Rating Opportunity And A 10% Covered Yield [Seeking Alpha]
Chimera Investment Corporation (CIM)
Last chimera investment corporation earnings: 2/12 07:00 am
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US:NYSE Investor Relations:
chimerareit.com/investors
Company Research
Source: Seeking Alpha
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. A higher-than-expected reading of inflation data on Tuesday triggered a minor meltdown for stocks, including in the high-yield sector that consists of mortgage real estate investment trusts and business development company. One such trust was Chimera Investment Corporation ( NYSE: CIM which also happened to just report 4Q-23 earnings. Though Chimera Investment's stock just fell to new 52-week lows, the earnings release showed that the dividend realignment in the last quarter worked: Chimera Investment's dividend is now well-covered again by the trust's earnings available for distribution. With the price-to-book discount expanding to 37%, I think the risk/reward relationship is compelling. My Rating Hist
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CIM
News
- Chimera Investment Corporation Announces Date of First Quarter 2024 Financial Results and Conference CallBusiness Wire
- UAE flips own script with $4 bln oil pipeline deal [Reuters]Reuters
- Chimera Declares First Quarter 2024 Common Stock DividendsBusiness Wire
- Chimera Investment Corporation (NYSE:CIM) Q4 2023 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Chimera Investment (CIM) Matches Q4 Earnings Estimates [Yahoo! Finance]Yahoo! Finance
CIM
Earnings
- 2/14/24 - In-Line
CIM
Sec Filings
- 4/22/24 - Form ARS
- 4/22/24 - Form DEFA14A
- 4/22/24 - Form DEF
- CIM's page on the SEC website