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 commercial mortgage loans, and other real estate related securities. It has elected to be taxed as a REIT and would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its shareholders. The company was incorporated in 2007 and is headquartered in New York, New York.
IPO Year: 2007
Exchange: NYSE
Website: chimerareit.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 12/6/2023 | $5.50 | Neutral | UBS |
| 1/10/2022 | $11.00 → $14.00 | Underweight | Barclays |
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UBS initiated coverage of Chimera Investment with a rating of Neutral and set a new price target of $5.50
Barclays reiterated coverage of Chimera Investment with a rating of Underweight and set a new price target of $14.00 from $11.00 previously
Raymond James resumed coverage of Chimera Investment with a rating of Hold
BOARD DECLARES FOURTH QUARTER 2024 DIVIDEND OF $0.37 PER SHARE OF COMMON STOCK The Board of Directors of Chimera Investment Corporation announced the declaration of its fourth quarter cash dividend of $0.37 per common share. The dividend is payable on January 31, 2025 to common stockholders of record on December 31, 2024. The ex-dividend date is December 31, 2024. About Chimera Investment Corporation Chimera is a publicly traded real estate investment trust, or REIT, that is primarily engaged in the business of investing directly or indirectly, on a leveraged basis, in a diversified portfolio of real estate assets, including mortgage loans, Agency RMBS, Non-Agency RMBS, Agency CMBS, b
Chimera Investment Corporation (NYSE:CIM) ("Chimera") announced today that it has completed the previously announced acquisition of Palisades Group ("Palisades"), a U.S.-based alternative asset manager founded in 2012 that specializes in residential real estate credit. Upon closing, which occurred on December 2, 2024, Jack Macdowell, Jr., co-founder and Chief Investment Officer of Palisades, became Chimera's Chief Investment Officer. Pursuant to the terms of the agreement, Chimera acquired Palisades for cash consideration of $30 million at closing, plus an additional potential earnout of up to $20 million over five years contingent upon achieving certain financial targets, with the option
Chimera Investment Corporation (NYSE:CIM) (the "Company" or "Chimera") announced today that Cynthia B. Walsh has been elected to the Company's Board of Directors as a Class III Director, effective December 1, 2024. Ms. Walsh has over 37 years of experience across multiple roles in the financial industry. Since 2011, She has served as President of Walsh Advisors, a registered investment advisory firm that focuses on capital allocation, equity and fixed income markets, and alternative investments. "We are pleased to welcome Ms. Walsh to our Board," said Gerry Creagh, Chairman of the Board. "She has extraordinary expertise in the financial industry and vast fiduciary experience, and we belie
Chimera Investment Corporation (NYSE:CIM) today announced its financial results for the third quarter ended September 30, 2024. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241106429044/en/ Financial Highlights(1): 3RD QUARTER GAAP NET INCOME OF $1.39 PER DILUTED COMMON SHARE 3RD QUARTER EARNINGS AVAILABLE FOR DISTRIBUTION(2) OF $0.36 PER DILUTED COMMON SHARE GAAP BOOK VALUE OF $22.35 PER COMMON SHARE AT SEPTEMBER 30, 2024, AND ECONOMIC RETURN(3) OF 6.82% AND 15.56% FOR THE QUARTER AND NINE MONTHS ENDED SEPTEMBER 30, 2024, RESPECTIVELY. "We feel good about our business. We continue to find new investment opportunities a
BOARD DECLARES FOURTH QUARTER 2024 DIVIDEND OF $0.50 PER SHARE OF 8% SERIES A CUMULATIVE REDEEMABLE PREFERRED STOCK BOARD DECLARES FOURTH QUARTER 2024 DIVIDEND OF $0.6654 PER SHARE OF 8.00% SERIES B FIXED-TO-FLOATING RATE CUMULATIVE REDEEMABLE PREFERRED STOCK BOARD DECLARES FOURTH QUARTER 2024 DIVIDEND OF $0.484375 PER SHARE OF 7.75% SERIES C FIXED-TO-FLOATING RATE CUMULATIVE REDEEMABLE PREFERRED STOCK BOARD DECLARES FOURTH QUARTER 2024 DIVIDEND OF $0.6467 PER SHARE OF 8.00% SERIES D FIXED-TO-FLOATING RATE CUMULATIVE REDEEMABLE PREFERRED STOCK The Board of Directors of Chimera announced the declaration of its fourth quarter cash dividend of $0.50 per share of 8% Series A Cumulat
Transaction Expected to Broaden Chimera's Residential Credit Reach and Be Accretive to Earnings in 2025 Chimera Investment Corporation (NYSE:CIM) ("Chimera") today announced that it has entered into a definitive agreement to acquire Palisades Group ("Palisades"), a U.S.-based alternative asset manager specializing in residential real estate credit. Founded in 2012, Palisades manages and invests in residential real estate assets across a broad spectrum of credit products. Upon closing, Jack Macdowell, Jr., co-founder and Chief Investment Officer of Palisades, will become Chimera's Chief Investment Officer. Under the terms of the agreement, Chimera will acquire Palisades for cash considerat
Chimera Investment Corporation (NYSE:CIM) (the "Company") announced today that it plans to release its financial results for the quarter ended September 30, 2024, on Wednesday, November 6, 2024, prior to 7:00 a.m. EDT. The Company will conduct a conference call and audio webcast to discuss the results on Wednesday, November 6, 2024, at 8:30 a.m. EDT. Call-in Number: U.S. Toll Free 866-604-1613 International +1 201-689-7810 Webcast https://www.chimerareit.com/news-events/ir-calendar A replay of the call will be available for two weeks following the conference call. Conference Call Replay: U.S. Toll Free (877) 660-685
Board Declares Third Quarter 2024 Dividend of $0.37 Per Share of Common Stock The Board of Directors of Chimera Investment Corporation announced the declaration of its third quarter cash dividend of $0.37 per common share. The dividend is payable on October 31, 2024 to common stockholders of record on September 30, 2024. The ex-dividend date is September 30, 2024. "We are pleased to announce an increase in our common stock dividend for the second consecutive quarter," said Phillip J. Kardis II, President and CEO of Chimera. "We continue to seek opportunities to maximize shareholder value as we enter a more favorable interest rate environment." About Chimera Investment Corporation Chim
Chimera Investment Corporation (NYSE:CIM) (the "Company") announced today that it has closed its previously announced underwritten public offering of $74.75 million aggregate principal amount (including $9.75 million issued pursuant to the over-allotment option) of its 9.250% senior notes due 2029 (the "Notes"). The Company has been authorized to list the Notes on the New York Stock Exchange under the symbol "CIMO" and expects trading in the Notes on the New York Stock Exchange to begin on August 22, 2024. The Notes have received an investment grade rating of BBB from Egan-Jones Ratings Company, an independent, unaffiliated rating agency. "Today's bond offering, our second for 2024, bring
Chimera Investment Corporation (NYSE:CIM) (the "Company") announced today the pricing of an underwritten public offering of $65 million aggregate principal amount of its 9.250% senior notes due 2029 (the "Notes"). The Company has granted the underwriters a 30-day option to purchase up to an additional $9.75 million aggregate principal amount of the Notes to cover over-allotments. The offering is expected to close on August 19, 2024, subject to the satisfaction of customary closing conditions. The Company intends to apply to list the Notes on the New York Stock Exchange under the symbol "CIMO" and, if the application is approved, expects trading in the Notes on the New York Stock Exchange
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Chimera Investment Corporation (NYSE:CIM) (the "Company" or "Chimera") announced today that Cynthia B. Walsh has been elected to the Company's Board of Directors as a Class III Director, effective December 1, 2024. Ms. Walsh has over 37 years of experience across multiple roles in the financial industry. Since 2011, She has served as President of Walsh Advisors, a registered investment advisory firm that focuses on capital allocation, equity and fixed income markets, and alternative investments. "We are pleased to welcome Ms. Walsh to our Board," said Gerry Creagh, Chairman of the Board. "She has extraordinary expertise in the financial industry and vast fiduciary experience, and we belie
Chimera Investment Corporation (NYSE:CIM) (the "Company" or "Chimera") announced today that Susan Mills has been elected to the Company's Board of Directors as a Class I Director, effective November 13, 2023. Ms. Mills is currently a Managing Director at Academy Securities ("Academy"), veteran-owned and operated investment bank with strengths in capital markets, asset management, public finance, geopolitical intel, fixed income and equity trading. Prior to that, she spent 36 years at Citigroup Global Markets ("Citi") as the successor to Salomon Brothers. "We are pleased to welcome Ms. Mills to our Board," said Gerry Creagh, Chairman of the Board. "She has extraordinary expertise in the
Chimera Investment Corporation (NYSE:CIM) (the "Company") announced today that on March 24, 2022, John P. Reilly, an independent member of the Board of Directors (the "Board") of the Company since April 2010, notified the Company that he will not stand for re-election at the Company's 2022 Annual Meeting of Stockholders. Mr. Reilly's term will end at the conclusion of the Company's 2022 Annual Meeting Date. "The Company thanks Mr. Reilly for his many years of service. Mr. Reilly has been a key component of our success having been a member of our Nominating/Corporate Governance Committee and our Compensation Committee and served on those committees with distinction. We are sad to see him go
Chimera Investment Corporation (NYSE:CIM) (the "Company") announced today that Sandra Bell has been appointed to the Company's Board of Directors as a Class II Director. Ms. Bell will stand for election at the Company's 2022 shareholder meeting for the remaining two years of the Class II Director term. Ms. Bell will serve on the Audit Committee, as a Financial Expert, and the Risk Committee of the Company's Board of Directors. Ms. Bell has been the Chief Financial Officer of Tiptree Inc. (NASDAQ:TIPT) since July 2015. Previously, Ms. Bell served as Chief Financial Officer of Prospect Mortgage, a private equity owned mortgage originator and servicer, and as Chief Financial Officer of PHH Co
NEW YORK--(BUSINESS WIRE)--Chimera Investment Corporation, Inc. (NYSE:CIM) (the “Company”) announced today that Kevin G. Chavers has been appointed to the Company’s Board of Directors. Mr. Chavers will serve as Chair of the Compensation Committee and on the Risk Committee of the Company’s Board of Directors. Mr. Chavers has over 34 years of experience across multiple roles in the real estate finance and mortgage industry. He served as Managing Director of BlackRock in the Global Fixed Income and Securitized Asset Investment Team until April 2021, focusing on residential mortgage related assets, including RMBS, whole loans and MSRs. Mr. Chavers also served on the leadership team o
NEW YORK--(BUSINESS WIRE)--Chimera Investment Corporation (NYSE: CIM) (the "Company") announced today that on March 31, 2021, Dennis Mahoney, an independent member of the Board of Directors (the “Board”) of the Company since April 2010, notified the Company that he will not stand for re-election at the Company’s 2021 Annual Meeting of Shareholders, and that Paul Donlin, an independent member of the Board of the Company since November 2007, notified the Company that he will retire from the Board on the date of the Company’s 2021 Annual Meeting of Shareholders. Their respective terms will end on the day of the Company’s 2021 Annual Meeting Date. “The Company thanks Mr. Donlin and M
NEW YORK--(BUSINESS WIRE)--The Board of Directors of Chimera Investment Corporation announced the declaration of its fourth quarter cash dividend of $0.30 per common share. The dividend is payable January 29, 2021 to common stockholders of record on December 30, 2020. The ex-dividend date is December 29, 2020. The Board of Directors of Chimera announced the declaration of its fourth quarter cash dividend of $0.50 per share of 8% Series A Cumulative Redeemable Preferred Stock. The dividend is payable December 30, 2020 to preferred shareholders of record on December 15, 2020. The ex-dividend date is December 14, 2020. The Board of Directors of Chimera also announced the declaration
BOARD DECLARES FOURTH QUARTER 2024 DIVIDEND OF $0.37 PER SHARE OF COMMON STOCK The Board of Directors of Chimera Investment Corporation announced the declaration of its fourth quarter cash dividend of $0.37 per common share. The dividend is payable on January 31, 2025 to common stockholders of record on December 31, 2024. The ex-dividend date is December 31, 2024. About Chimera Investment Corporation Chimera is a publicly traded real estate investment trust, or REIT, that is primarily engaged in the business of investing directly or indirectly, on a leveraged basis, in a diversified portfolio of real estate assets, including mortgage loans, Agency RMBS, Non-Agency RMBS, Agency CMBS, b
Chimera Investment Corporation (NYSE:CIM) ("Chimera") announced today that it has completed the previously announced acquisition of Palisades Group ("Palisades"), a U.S.-based alternative asset manager founded in 2012 that specializes in residential real estate credit. Upon closing, which occurred on December 2, 2024, Jack Macdowell, Jr., co-founder and Chief Investment Officer of Palisades, became Chimera's Chief Investment Officer. Pursuant to the terms of the agreement, Chimera acquired Palisades for cash consideration of $30 million at closing, plus an additional potential earnout of up to $20 million over five years contingent upon achieving certain financial targets, with the option
Chimera Investment Corporation (NYSE:CIM) today announced its financial results for the third quarter ended September 30, 2024. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241106429044/en/ Financial Highlights(1): 3RD QUARTER GAAP NET INCOME OF $1.39 PER DILUTED COMMON SHARE 3RD QUARTER EARNINGS AVAILABLE FOR DISTRIBUTION(2) OF $0.36 PER DILUTED COMMON SHARE GAAP BOOK VALUE OF $22.35 PER COMMON SHARE AT SEPTEMBER 30, 2024, AND ECONOMIC RETURN(3) OF 6.82% AND 15.56% FOR THE QUARTER AND NINE MONTHS ENDED SEPTEMBER 30, 2024, RESPECTIVELY. "We feel good about our business. We continue to find new investment opportunities a
BOARD DECLARES FOURTH QUARTER 2024 DIVIDEND OF $0.50 PER SHARE OF 8% SERIES A CUMULATIVE REDEEMABLE PREFERRED STOCK BOARD DECLARES FOURTH QUARTER 2024 DIVIDEND OF $0.6654 PER SHARE OF 8.00% SERIES B FIXED-TO-FLOATING RATE CUMULATIVE REDEEMABLE PREFERRED STOCK BOARD DECLARES FOURTH QUARTER 2024 DIVIDEND OF $0.484375 PER SHARE OF 7.75% SERIES C FIXED-TO-FLOATING RATE CUMULATIVE REDEEMABLE PREFERRED STOCK BOARD DECLARES FOURTH QUARTER 2024 DIVIDEND OF $0.6467 PER SHARE OF 8.00% SERIES D FIXED-TO-FLOATING RATE CUMULATIVE REDEEMABLE PREFERRED STOCK The Board of Directors of Chimera announced the declaration of its fourth quarter cash dividend of $0.50 per share of 8% Series A Cumulat
Transaction Expected to Broaden Chimera's Residential Credit Reach and Be Accretive to Earnings in 2025 Chimera Investment Corporation (NYSE:CIM) ("Chimera") today announced that it has entered into a definitive agreement to acquire Palisades Group ("Palisades"), a U.S.-based alternative asset manager specializing in residential real estate credit. Founded in 2012, Palisades manages and invests in residential real estate assets across a broad spectrum of credit products. Upon closing, Jack Macdowell, Jr., co-founder and Chief Investment Officer of Palisades, will become Chimera's Chief Investment Officer. Under the terms of the agreement, Chimera will acquire Palisades for cash considerat
Chimera Investment Corporation (NYSE:CIM) (the "Company") announced today that it plans to release its financial results for the quarter ended September 30, 2024, on Wednesday, November 6, 2024, prior to 7:00 a.m. EDT. The Company will conduct a conference call and audio webcast to discuss the results on Wednesday, November 6, 2024, at 8:30 a.m. EDT. Call-in Number: U.S. Toll Free 866-604-1613 International +1 201-689-7810 Webcast https://www.chimerareit.com/news-events/ir-calendar A replay of the call will be available for two weeks following the conference call. Conference Call Replay: U.S. Toll Free (877) 660-685
Board Declares Third Quarter 2024 Dividend of $0.37 Per Share of Common Stock The Board of Directors of Chimera Investment Corporation announced the declaration of its third quarter cash dividend of $0.37 per common share. The dividend is payable on October 31, 2024 to common stockholders of record on September 30, 2024. The ex-dividend date is September 30, 2024. "We are pleased to announce an increase in our common stock dividend for the second consecutive quarter," said Phillip J. Kardis II, President and CEO of Chimera. "We continue to seek opportunities to maximize shareholder value as we enter a more favorable interest rate environment." About Chimera Investment Corporation Chim
Chimera Investment Corporation (NYSE:CIM) today announced its financial results for the second quarter ended June 30, 2024. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240807009689/en/ Financial Highlights(1): 2ND QUARTER GAAP NET INCOME OF $0.41 PER DILUTED COMMON SHARE 2ND QUARTER EARNINGS AVAILABLE FOR DISTRIBUTION(2) OF $0.37 PER DILUTED COMMON SHARE GAAP BOOK VALUE OF $21.27 PER COMMON SHARE AT JUNE 30, 2024, AND ECONOMIC RETURN(3) OF 1.4% AND 8.4% FOR THE QUARTER, AND SIX MONTHS ENDED JUNE 30, 2024, RESPECTIVELY. "This quarter we continued to access the capital markets and acquire accretive assets including
BOARD DECLARES THIRD QUARTER 2024 DIVIDEND OF $0.50 PER SHARE OF 8% SERIES A CUMULATIVE REDEEMABLE PREFERRED STOCK BOARD DECLARES THIRD QUARTER 2024 DIVIDEND OF $0.7111 PER SHARE OF 8.00% SERIES B FIXED-TO-FLOATING RATE CUMULATIVE REDEEMABLE PREFERRED STOCK BOARD DECLARES THIRD QUARTER 2024 DIVIDEND OF $0.484375 PER SHARE OF 7.75% SERIES C FIXED-TO-FLOATING RATE CUMULATIVE REDEEMABLE PREFERRED STOCK BOARD DECLARES THIRD QUARTER 2024 DIVIDEND OF $0.7006 PER SHARE OF 8.00% SERIES D FIXED-TO-FLOATING RATE CUMULATIVE REDEEMABLE PREFERRED STOCK The Board of Directors of Chimera announced the declaration of its third quarter cash dividend of $0.50 per share of 8% Series A Cumul
Chimera Investment Corporation (NYSE:CIM) announced that on July 30, 2024 it had sponsored CIM 2024-R1, a $468.1 million securitization of seasoned reperforming residential mortgage loans. Securities issued by CIM 2024-R1, with an aggregate balance of approximately $351.8 million, were sold in a private placement to institutional investors. These senior securities represented approximately 75.15% of the capital structure. Chimera retained subordinate interests in securities with an aggregate balance of approximately $116.3 million and certain interest-only securities. Chimera also retained an option to call the securitized mortgage loans when their unpaid principal balance is less than or e
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