Dec. 19, 2013, 4:51 PM| 4 Comments
Dec. 19, 2013, 4:47 PM
- Chimera Investment (CIM) is up 3.9% AH after declaring a $0.20 per share special dividend, payable on January 31 to holders of record on January 8.
- CEO Matthew Lambiase: "By operating at low leverage and by avoiding new issue loan securitizations as credit spreads widened, our book value held up better than most in the turbulent market ... (we) believe that the best use of the company's liquidity at this time is to return a portion to shareholders in a special dividend."
- "Chimera continues to be positioned defensively and has ample liquidity to take advantage of opportunities that may arise in the potentially tumultuous bond market ahead."
- Press release
Dec. 13, 2013, 6:09 AM| Comment!
Dec. 12, 2013, 9:40 PM
- Chimera Investment (CIM) holds its quarterly payout steady at $0.09 per share, an annualized yield of 11.8%. The dividends for 2014 Q1 and Q2 are also set at $0.09.
- Estimated GAAP book value as of September 30 is $3.47 per share; economic book value is estimated at $2.98. This compares to June's estimates of $3.52 and $3.01, respectively.
- Press release
Dec. 10, 2013, 9:23 AM
- Chimera (CIM) Head of Investments Christian Woschenko "has resigned to purse other opportunities," says CEO Matthew Lambiase, announcing the promotion of Mohit Marria to the role of CIO.
- Marria was previously the chief residential mortgage trader at FIDAC, Chimera's external manager.
- Chimera's stock has gained about 5% over the past few sessions on extraordinarily heavy volume.
- Press release
Dec. 9, 2013, 3:50 PM
- The mortgage REIT sector (REM +1.5%) takes a breather from heading south today, but it's a low volume effort, with one exception. Chimera Investment's (CIM +3.3%) volume of 22.7M so far this session compares to an average of 6.8M. One trader observes it's the 3rd consecutive session of heavy activity for the stock.
- Investors still await audited results for 2012 from the company.
- Related ETFs: MORT, MORL
Dec. 6, 2013, 11:42 AM
- There's a bit of green spreading across the mREIT sector this morning as Treasurys reverse an early plunge following the strong jobs report - the 10-year yield is now off 3 basis points to 2.85% after climbing to 2.93% just after the 8:30 ET release.
- However, there's no relief for sector leaders Annaly (NLY -1%) and American Capital Agency (AGNC -1.5%), both of which continue to reel following Goldman's Sell recommendation yesterday - each have carved out new 52-week lows this morning. There may be plenty of players in the mREIT sector, but for the institutional big boys who have the Goldman report on their desks, there's just NLY and AGNC. Others in the red include: Armour (ARR -0.7%) and CYS Investments (CYS -1.1%).
- Posting gains: Chimera (CIM +0.8%), Invesco (IVR +0.2%), Hatteras (HTS +0.2%), Dynex (DX +0.7%), New York Mortgage (NYMT +0.3%), Apollo Residential (AMTG +0.7%), Javelin (JMI +1.1%), AG Mortgage Investment (MITT +2.3%).
- Related ETFs: REM, MORT, MORL.
Nov. 27, 2013, 12:30 PM| 3 Comments
Nov. 12, 2013, 4:40 PM
Oct. 31, 2013, 4:58 PM
Sep. 20, 2013, 10:22 AM
- The mREIT (REM -1.7%) stocks sink under another wave of hefty dividend cuts overnight, with the sector gorillas Annaly (NLY -2.6%) and American Capital (AGNC -3%) slashing their payouts by 12.5% and 24% respectively. American Capital however, continues buying back its shares at a discount to book value at a fast pace.
- American Capital's non-agency cousin, American Capital Mortgage (MTGE -1.2%) cut its dividend 12.5%, and also continues to retire stock below book value. Western Asset Mortgage (WMC +0.7%) held the line on its dividend.
- Other movers include: Chimera (CIM -1.3%), Hatteras (HTS -1.9%), Capstead (CMO -2.2%), Javelin (JMI -3.3%).
- Relevant ETFs: MORT, MORL.
Sep. 3, 2013, 9:12 AM
- For now (until the next extension), Chimera (CIM) has until January 31, 2014 to file its quarterly and annual reports from 2012 Q2 on. "The Company continues to work diligently to complete the ongoing work towards becoming current on all of its filings required under applicable securities laws ... The Company will file ... as soon as predictable."
- Press release.
Aug. 23, 2013, 4:27 PM| 4 Comments
Aug. 15, 2013, 9:40 AM
- Third Point (TPRE) files its Q2 13-F.
- Key increases: TIBX +400%. BID +400%. LBTYK +344%. LBTYA +275%. TMO +92%. COG +10%.
- Key reductions: TIF -38%. NWSA -38%. IP -31%. AIG -25%. STZ -25%. APC -20%.
- Key exits: DLPH, AGU, CIM, LPX, NXPI, HES, EQIX, TDG, ST, MUR, LNG, ABBV, VMED, LYB.
- Key initiations: MPC ($89M). WMB ($57M). ELN ($120M). DIS ($114M). CF ($145M). CCE ($35M).
Aug. 14, 2013, 7:45 AM
- New positions for David Tepper's Appaloosa Management for the quarter ended June 30 include: AXLL, CBI (both common stock and call options), CCL, HTZ, PGEM, TEX, TRN, WWAV.
- He upped stakes in a number of previously held names, with the most significant additions being BAC, FLR, FWLT, KBR, and PRU.
- Among those positions cut, the most significant moves are: AIG, AAPL, BYD, DLPH, CIM, GM (cashed in almost all warrants), LCC, MSFT, and WFT.
- He eliminated stakes in MFA, SBY, and TWO.
- A quick take on the overall picture shows a concern with rising rates considering the big cut in his Chimera stake along with the elimination of his positions in MFA Financial, Silver Bay Realty, and Two Harbors.
- Sources: 13F filing, StreetInsider.
Jul. 17, 2013, 12:13 PM
CIM vs. ETF Alternatives
Chimera Investment Corp is a specialty finance company. It invests, either directly or indirectly through its subsidiaries, in residential mortgage-backed securities, residential mortgage loans, commercial mortgage loans, & real estate-related securities.
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