Chimera Investment Corporation is a New York City-based Real Estate Investment Trust (REIT), founded in 2007. Our income is primarily generated by the difference between the income we earn on our assets and our financing and hedging costs. As a credit-focused hybrid mortgage REIT, we invest in residential mortgage loans as well as Agency and non-Agency mortgage-backed securities.
<p>3rd quarter GAAP net income of $1.39 per diluted common share</p>
<p>3rd quarter earnings available for distribution of $0.36 per diluted common share</p>
<p>GAAP book value of $22.35 per common share</p>
As of September 30, 2024 • Q3 2024 Earnings Release
* Non-GAAP Financial Measures. View full reconciliation in our Q3 earnings press release.
For complete information regarding our financials, see our periodic filings
For Fiscal Year Ending Dec 31, 2023
"We feel good about our business. We continue to find new investment opportunities and have increased the dividend on our common stock for two consecutive quarters."
Nov 6, 2024
| (Dollars in millions. Except per share data) | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 |
|---|---|---|---|---|
| GAAP Earnings | $1.39 | $0.41 | $1.36 | $0.16 |
| Earnings Available for Distribution(1) | $0.36 | $0.37 | $0.37 | $0.40 |
| Common Dividend | $0.37 | $0.35 | $0.33 | $0.33 |
| Total Assets | $13,702,376 | $13,131,881 | $12,546,572 | $12,928,998 |
| Stockholders Equity | $2,737,312 | $2,641,268 | $2,645,586 | $2,558,919 |
| GAAP Book Value | $22.35 | $21.27 | $21.32 | $20.25 |
(1)Earnings Available for Distribution is a non-GAAP measure.
As of September 30, 2024 • Q3 2024 Earnings Release
| (Dollars in thousands. Except per share data) | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 |
|---|---|---|---|---|
| Interest Income | 195,295 | $186,717 | $186,574 | $191,204 |
| Interest Expense | 128,844 | $119,422 | $121,468 | $126,553 |
| Net Interest Income | 66,451 | $67,295 | $65,106 | $64,651 |
| Average Yield, Interest-earning assets | 6.1% | 5.9% | 5.8% | 5.9% |
| Average Cost, Interest-bearing liabilities | 4.5% | 4.2% | 4.4% | 4.4% |
| Net Interest Spread | 1.6% | 1.7% | 1.4% | 1.5% |
As of September 30, 2024 • Q3 2024 Earnings Release
| Control | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 |
|---|---|---|---|---|
| Agency RMBS as percent of portfolio | 8% | 4% | 0% | 0% |
| Agency CMBS as percent of portfolio | 0% | 0% | 0% | 1% |
| Securitized Loans as percent of portfolio | 84% | 88% | 91% | 91% |
| Non-Agency RMBS as percent of portfolio | 8% | 8% | 9% | 8% |
| GAAP Leverage | 3.9:1 | 3.8:1 | 3.7:1 | 4.0:1 |
| GAAP Leverage (Recourse) | 1.2:1 | 1.0:1 | 0.9:1 | 1.0:1 |
As of September 30, 2024 • Q3 2024 Earnings Release and Financial Supplement
Chimera has declared $6.3 billion in cumulative distributions to stockholders.
(in thousands)
| Year | Common Dividend | Preferred Dividend |
|---|---|---|
| 2017 | $376579 | $33484 |
| 2018 | $375017 | $43197 |
| 2019 | $376839 | $72704 |
| 2020 | $301270 | $73750 |
| 2021 | $307583 | $73764 |
| 2022 | $266139 | $73765 |
| 2023 | $166789 | $73750 |
| 2024 YTD | $86812 | $63975 |
As of September 30, 2024 • Q3 2024 Earnings Release
As a hybrid mortgage REIT, we invest in both Agency and non-Agency mortgage assets. This approach allows for flexibility in portfolio asset allocation and liability management, which contributes to our organization's success.
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Chimera Investment Corporation
630 Fifth Avenue
Ste 2400
New York, NY 10111
United States
T: 888-895-6557
investor-relations@chimerareit.com
Computershare Trust Company, N.A.
P.O. Box 43078
Providence RI 02940-3078
T: 877-239-3308
https://www.computershare.com/investor