About Us

Delivering Value-Driven Investments

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.

A Look into Our Portfolio

Comprised of Residential Mortgage Loans and Mortgage-Backed Securities

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.

Our Portfolio by Asset Type

As of September 30, 2024

Latest Portfolio Overview by the Numbers

$11.4 B

Total current unpaid principal balance

106 K

Loans

$108 K

Weighted average loan size

5.97%

Weighted average coupon

188

Average loan age (in months)

As of September 30, 2024 • Earnings Presentation

Securitization as Our Focus

Our business and growth strategy centers engaging in securitization transactions to finance the acquisition of residential mortgage loans. In our securitization transactions, we retain the subordinate RMBS and receive interest income until the other more senior securities are paid off.

As such, our income is generated primarily by the difference, or net spread, between the income we earn on our assets and our financing and hedging costs. Chimera frequently seeks to add incremental portfolio returns by utilizing leverage on the retained mortgage assets.

Our Securitization Activity

105

Securitizations to date

$53B

Mortgage assets securitized to date

$14B

Unpaid principal balance of securitized assets outstanding

As of September 30, 2024

Historical Portfolio Performance by the Numbers (QoQ)

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

Dividend History

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

View Dividends

Investing in Our Communities, Investing in Our Future

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 Team

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.

Learn More or Contact Us

Browse our commonly asked investor-related questions and contact information.