CHIMERA INVESTMENT CORPORATION REPORTS 1ST QUARTER 2021 EARNINGS
Chimera Investment Corporation (NYSE:CIM) reported its Q1 2021 financial results, achieving a GAAP net income of $139 million or $0.54 per common share, with core earnings of $87 million or $0.36 per common share.
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Chimera Investment Corporation (NYSE:CIM) today announced its financial results for the first quarter ended March 31, 2021. The Company’s GAAP net income for the first quarter was
“This quarter we took many proactive steps towards portfolio optimization and the expansion of Chimera’s core earnings. Through re-securitization activity, we lowered the financing cost and freed up capital for future accretive investments”, said Mohit Marria, Chimera’s CEO and Chief Investment Officer. “Securitization of our mortgage assets provides Chimera with low-cost, long-term, non-recourse financing. We expect the re-securitizations from this quarter to benefit our portfolio for a long period of time.”
(1) Core earnings per adjusted diluted common share is a non-GAAP measure. See additional discussion on page 5. |
Other Information
Chimera Investment Corporation is a publicly traded real estate investment trust, or REIT, that is primarily engaged in the business of investing directly or indirectly through our subsidiaries, on a leveraged basis, in a diversified portfolio of mortgage assets, including residential mortgage loans, Non-Agency RMBS, Agency CMBS, Agency RMBS, and other real estate related securities.
CHIMERA INVESTMENT CORPORATION |
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CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION |
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(dollars in thousands, except share and per share data) |
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(Unaudited) |
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March 31, 2021 |
December 31, 2020 |
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Cash and cash equivalents |
$ |
317,489 |
|
$ |
269,090 |
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Non-Agency RMBS, at fair value (net of allowance for credit losses of |
2,013,478 |
|
2,150,714 |
|
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Agency RMBS, at fair value |
86,354 |
|
90,738 |
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Agency CMBS, at fair value |
1,355,289 |
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