Chimera is an internally managed, Residential Credit Hybrid Mortgage Real Estate Investment Trust (REIT). Founded in 2007, we strive to provide attractive risk-adjusted returns, using leverage, to our shareholders. Since our inception, we have declared $5.7 billion common and preferred stock dividends.
We are a credit-focused hybrid mortgage REIT, meaning that our portfolio contains residential mortgage loans and both Agency and non-Agency mortgage-backed securities. Our hybrid approach allows us to maintain flexibility in portfolio allocation and liability management. Through the use of securitization and leverage, we aim to create long-term value for our shareholders.
As of September 30, 2024
Earnings Available for Distribution is a non-GAAP measure. View full reconciliation in our Q3 earnings press release.
| (Dollars in millions. Except per share data) | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 |
|---|---|---|---|---|---|
| GAAP Earnings | $1.39 | $0.41 | $1.36 | $0.16 | $(0.07) |
| Earnings Available for Distribution(1) | $0.36 | $0.37 | $0.37 | $0.40 | $0.13 |
| Common Dividend | $0.37 | $0.35 | $0.33 | $0.33 | $0.18 |
| Total Assets | $13,702,376 | $13,131,881 | $12,546,572 | $12,928,998 | $12,887.00 |
| Stockholders Equity | $2,737,312 | $2,641,268 | $2,645,586 | $2,558,919 | $2,494.00 |
| GAAP Book Value | $22.35 | $21.27 | $21.32 | $20.25 | $6.90 |
(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 | Q3 2023 |
|---|---|---|---|---|---|
| Interest Income | 195,295 | $186,717 | $186,574 | $191,204 | $195,591.00 |
| Interest Expense | 128,844 | $119,422 | $121,468 | $126,553 | $132,193.00 |
| Net Interest Income | 66,451 | $67,295 | $65,106 | $64,651 | $63,398.00 |
| Average Yield, Interest-earning assets | 6.1% | 5.9% | 5.8% | 5.9% | 5.8% |
| Average Cost, Interest-bearing liabilities | 4.5% | 4.2% | 4.4% | 4.4% | 4.5% |
| Net Interest Spread | 1.6% | 1.7% | 1.4% | 1.5% | 1.3% |
As of September 30, 2024 • Q3 2024 Earnings Release
| Control | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 |
|---|---|---|---|---|---|
| Agency RMBS as percent of portfolio | 8% | 4% | 0% | 0% | 0% |
| Agency CMBS as percent of portfolio | 0% | 0% | 0% | 1% | 1% |
| Securitized Loans as percent of portfolio | 84% | 88% | 91% | 91% | 91% |
| Non-Agency RMBS as percent of portfolio | 8% | 8% | 9% | 8% | 8% |
| GAAP Leverage | 3.9:1 | 3.8:1 | 3.7:1 | 4.0:1 | 4.1:1 |
| GAAP Leverage (Recourse) | 1.2:1 | 1.0:1 | 0.9:1 | 1.0:1 | 1.0:1 |
As of September 30, 2024 • Q3 2024 Earnings Release and Financial Supplement
| 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
At Chimera, we know that we change be a change for good in our communities. That's why we center our traditional environmental, social, and governance (ESG) efforts alongside responsible investments and risk management, in each and every decision we make.
Our leadership teams guide our company towards its goals. With our investors and our communities in mind, our leaders strive to make the best decision to increase long-term value of our company for our shareholders.
Browse our commonly asked investor-related questions and contact information.