Chimera Invt Corp Stock Price, News & Analysis

Chimera Investment Corporation (NYSE:CIM) announced the sponsorship of two securitizations totaling $885 million since the end of Q2. The CIM 2021-R5 on September 7, 2021 is a $450.4 million securitization of seasoned mortgage loans, with $382.8 million sold to institutional investors, retaining $67.6 million in subordinate interests. Additionally, a $434.7 million securitization named CIM 2021-INV1 was completed in August. Both securities have clean-up call options and favorable debt costs.

The Board of Directors of Chimera announced the declaration of its third quarter cash dividends for 2021. The dividends are as follows: $0.50 per share for Series A, Series B, and Series D, and $0.484375 per share for Series C. All dividends are payable on September 30, 2021, with record dates of September 17, 2021, and an ex-dividend date of September 16, 2021. This announcement reflects the company's ongoing commitment to returning value to shareholders through consistent dividend payments.

Chimera Investment Corporation (NYSE:CIM) reported a GAAP net income of $145 million ($0.60 per share) for Q2 2021, alongside core earnings of $130 million ($0.54 per share). The company successfully refinanced 12 securitizations worth over $5.6 billion, reducing its cost of debt by approximately 245 basis points. Total assets as of June 30, 2021, were $15.86 billion, down from $17.52 billion at the end of 2020. Liabilities decreased to $12.23 billion from $13.74 billion.

Chimera Investment Corporation (NYSE:CIM) announced the appointment of Subramaniam Viswanathan as Chief Financial Officer effective July 31, 2021. Previously, Viswanathan held significant roles at Bank of America Merrill Lynch and Citigroup, specializing in mortgages and securitization. The company's CEO, Mohit Marria, expressed confidence that Viswanathan's extensive experience will greatly benefit the organization. Chimera Investment Corporation focuses on investing in a diversified portfolio of real estate assets, including mortgage loans and various types of securities.

Chimera Investment Corporation (CIM) announced plans to release its financial results for Q1 ended June 30, 2021, on August 4, 2021, prior to 7:00 a.m. EDT. An audio webcast and conference call to discuss these results will occur the same day at 8:30 a.m. EDT. Investors can call in via U.S. Toll Free at (866) 342-8591 or International at (203) 518-9713. The conference ID is CIMQ221. A replay will be available for one week post the call.

On June 25, 2021, Chimera Investment Corporation (NYSE:CIM) announced the CIM 2021-R4 securitization, totaling $545.7 million in seasoned reperforming residential mortgage loans. Of this, approximately $463.8 million was sold to institutional investors, with Chimera retaining $81.9 million in subordinate interests. The average cost of debt for this securitization is significantly lower at 1.97%, compared to 3.79% for prior securitizations. Additionally, Chimera sponsored a $320.3 million prime jumbo securitization rated by Moody's and Fitch.

Chimera Investment Corporation (NYSE:CIM) announced the appointment of Kevin G. Chavers to its Board of Directors. Chavers, who brings over 34 years of experience in the real estate finance and mortgage industry, will chair the Compensation Committee and serve on the Risk Committee. His previous roles include Managing Director at BlackRock and Morgan Stanley, as well as President of Ginnie Mae. The company's Chairman, Gerry Creagh, expressed confidence that Chavers' expertise will greatly benefit Chimera.

The Board of Directors of Chimera Investment Corporation has declared its second quarter cash dividend of $0.33 per common share, payable on July 30, 2021. Shareholders on record as of June 30, 2021 will receive it, with an ex-dividend date set for June 29, 2021. Additionally, multiple preferred stock dividends were announced, including $0.50 per share for the 8% Series A and B Cumulative Redeemable Preferred Stocks, and $0.484375 for the 7.75% Series C, all payable on June 30, 2021. The ex-dividend date for preferred shares is May 28, 2021.

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. The company emphasized its focus on portfolio optimization and re-securitization activities aimed at reducing financing costs and enhancing capital for future investments. CEO Mohit Marria noted that these strategies will provide long-term benefits to the portfolio.