Chimera Investment: Re-Rating Opportunity And A 10% Covered Yield

designer491A higher-than-expected reading of inflation data on Tuesday triggered a minor meltdown for stocks, including in the high-yield sector that consists of mortgage real estate investment trusts and business development company. One such trust was Chimera Investment Corporation (NYSE:CIM) which also happened to just report 4Q-23 earnings. Though Chimera Investment’s stock just fell to new 52-week lows, the earnings release showed that the dividend realignment in the last quarter worked: Chimera In ...