Financial Data and Key Metrics Changes - GAAP net loss for Q4 2024 was $168.3 million, or $2.07 per share, while GAAP net income for the full year was $90.3 million, or $1.10 per share [28] - GAAP book value at the end of Q4 was $19.72 per share, with an economic return on GAAP book value of negative 10.1% for the quarter and positive 4.4% for the full year [29] - Economic net interest income for Q4 was $69.2 million, with a yield on average interest-earning assets of 6% and an average cost of funds of 4.5% [30][31] Business Line Data and Key Metrics Changes - The company managed a portfolio of $12.3 billion, consisting of $10.7 billion in residential loans, $1.1 billion in non-agency RMBS, and $519 million in agency MBS [44] - The residential loan book includes $9.6 billion of seasoned legacy re-performing loans, with serious delinquencies flat quarter-over-quarter at 9.1% [45][46] - The company purchased $129 million of short-duration residential transition loans and was a net seller of $452 million in agency CMOs during the quarter [44] Market Data and Key Metrics Changes - The average 30-year fixed mortgage rate started the year at 6.6%, peaked at 7.2% in May, and ended the year at 6.9% [11] - Home sales declined for the third consecutive year to the lowest level since 1995, while home prices rose 4.3% year-over-year according to the FHFA housing price index [12][14] - Credit spreads for asset-backed securities tightened significantly in 2024, with non-agency RMBS gross issuance nearly doubling from 2023 levels [15] Company Strategy and Development Direction - The company plans to diversify its portfolio, increase liquidity, and grow fee-based income revenue streams in 2025 [20][21] - The acquisition of the Palisades Group is expected to enhance returns through diversification of revenue and provide third-party investment management services [19][22] - The company aims to invest in technology to enhance asset management capabilities and drive operational efficiencies [24] Management's Comments on Operating Environment and Future Outlook - The management noted that the operating environment remains uncertain, with expectations to continue diversifying the portfolio and growing the agency RMBS portfolio [20][21] - The company is optimistic about credit performance and housing finance fundamentals, despite challenges in the housing market [15][56] - Management expressed confidence in finding new opportunities and increasing the quarterly dividend by 12% [27] Other Important Information - The company ended the year with $610 million in total cash and unencumbered assets, and total leverage for Q4 was 4 to 1 [31] - The company executed a new financing facility with a greater than 400 basis point reduction in rate, allowing for approximately $62 million to be deployed in new investments [26] Q&A Session Summary Question: Can you talk about incremental ROEs and what you see as the normalized ROE? - Management indicated that the target return on invested assets is in the mid-teens area, with a focus on reallocating capital to higher yielding assets [66][68] Question: Can you discuss the book value roll forward this quarter? - Management explained that the book value change was driven by the steepening of the yield curve and the correlation between loan values and securitized debt [70][72] Question: Can you elaborate on the potential to add MSR and other hedges? - Management stated that the strategy focuses on buying residential loans and securitizing them, with MSRs seen as a way to stabilize book value without diluting earnings [78][80] Question: Did you receive a margin call during the quarter? - Management confirmed that they received some margin calls, but they were immaterial and not significant [88] Question: Can you discuss the flow of capital in response to changing expectations for the Fed to cut interest rates? - Management noted that credit spreads have been tightening and there is strong demand throughout the capital structure, which is favorable for redeploying capital [91][92] Question: What kind of MSRs are you looking at? - Management indicated that they are focused on purposeful allocations within the portfolio, considering both current and lower coupon MSRs based on relative value [96][98]

P R O P R I E T A R Y & CO N F I D E N T I A L I n v e s t o r P r e s e n t a t i o n Q 4 | 2 0 2 4 Disclaimer This presentation includes "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Actual results may differ from expectations, estimates and projections and, consequently, readers should not rely on these forward-looking statements as predictions of future events. Words such as "goal" "expect," "target," ...

Core Viewpoint - Chimera Investment (CIM) reported quarterly earnings of $0.37 per share, exceeding the Zacks Consensus Estimate of $0.36 per share, but down from $0.39 per share a year ago, indicating a 2.78% earnings surprise [1][2] Financial Performance - The company posted revenues of $65.82 million for the quarter ended December 2024, missing the Zacks Consensus Estimate by 2.92%, compared to $64.65 million in the same quarter last year [2] - Over the last four quarters, Chimera has surpassed consensus EPS estimates three times, but has only topped consensus revenue estimates once [2] Stock Performance - Chimera shares have increased approximately 7.8% since the beginning of the year, outperforming the S&P 500's gain of 3.2% [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [6] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.38 on revenues of $69.8 million, and for the current fiscal year, it is $1.57 on revenues of $281.4 million [7] - The trend of estimate revisions for Chimera is mixed, which could change following the recent earnings report [6] Industry Context - The REIT and Equity Trust industry, to which Chimera belongs, is currently ranked in the bottom 46% of over 250 Zacks industries, suggesting potential challenges ahead [8]

PRESS RELEASE NYSE: CIM CHIMERA INVESTMENT CORPORATION 630 Fifth Ave, Suite 2400 New York, New York 10111 Investor Relations 888-895-6557 www.chimerareit.com FOR IMMEDIATE RELEASE CHIMERA INVESTMENT CORPORATION REPORTS 4TH QUARTER 2024 EARNINGS NEW YORK - (BUSINESS WIRE) - Chimera Investment Corporation (NYSE:CIM) today announced its financial results for the fourth quarter and full year ended December 31, 2024. Financial Highlights : (1) "In 2024, we made progress on our initiative towards building a more ...

Strategic Acquisition: BTQ Technologies Corp. has acquired advanced computing-in-memory (CIM) intellectual property from Cimtech Technology Co., a leader in memory technology and CIM solutions, to enhance its post-quantum cryptography and quantum-secure communication capabilities. Cutting-Edge Technology: Cimtech's state-of-the-art CIM IP, developed using TSMC's 28nm HPC process, includes critical assets like Verilog models and timing libraries, enabling high-speed, low-power computation ideal for next-gen ...

About one and a half years ago, I recommended buying the preferred stock of Chimera Investment Corporation (NYSE: CIM.PR.D ) for its attractive dividend yield of 10.0% back then and the wide margin of safety of the dividend. Since myI am a chemical engineer with a MS in Food Technology and Economics, and a MENSA member. I am the author of the book "Investing in Stocks and Bonds: The Early Retirement Project" (2024):I am also the author of the book "Mental Math: How to perform math calculations in your mind" ...

I rate Chimera Investment Corporation (NYSE: CIM ) common stock as a Hold for income investors willing to assume the risks of holding a mortgage REIT that is subject to interest rate risk. The most important factors that influence my opinionDavid A. Johnson is founder and principal of Endurance Capital Management, a New Jersey Limited Liability Company. As an investor entrepreneur, David invests in stocks, bonds, options, ETFs, REITs, real estate, closed end funds and alternative investment funds such as he ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED: September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO COMMISSION FILE NUMBER: 1-33796 CHIMERA INVESTMENT CORPORATION (Exact Name of Registrant as Specified in its Charter) Maryland 26-0630461 (State or other juris ...

Chimera Investment Corporation (NYSE:CIM) Q3 2024 Earnings Conference Call November 6, 2024 8:30 AM ET Company Participants Victor Falvo - Head of Capital Markets and IR Phil Kardis - President and CEO Subra Viswanathan - CFO Dan Thakkar - CIO Conference Call Participants Trevor Cranston - Citizens JMP Doug Harter - UBS Francesco Labetti - KBW Jake Katsikis - BTIG Operator Greetings, and welcome to the Chimera Investment Corporation Third Quarter Earnings Call. [Operator Instructions] As a reminder, this co ...

Chimera Investment (CIM) came out with quarterly earnings of $0.36 per share, missing the Zacks Consensus Estimate of $0.37 per share. This compares to earnings of $0.39 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -2.70%. A quarter ago, it was expected that this mortgage investor would post earnings of $0.34 per share when it actually produced earnings of $0.37, delivering a surprise of 8.82%.Over the last four quarters, t ...