Chimera Investment Corporation Announces Definitive Agreement to Acquire Palisades Group Press Release Presentation 8-K
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
Historical Portfolio Performance by the Numbers (QoQ)
Earnings Available for Distribution
Earnings Available for Distribution is a non-GAAP measure. View full reconciliation in our Q3 earnings press release.
Key Figures
| (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
Portfolio Income and Yield
| (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
Portfolio Allocation
| 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
Dividend History
Show Data
| 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
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.