1. Chimera Investment (CIM) is a specialty finance company engaged in investing either directly or through its subsidiaries in residential mortgage-backed securities (RMBS), residential mortgage loans, commercial mortgage loans, real estate-related securities and various other asset classes.
For the second quarter 2011, the company declared and paid its common stock cash dividend of 13 cents. Currently, the company has a dividend yield of 22%.
Earnings for the second quarter of 2011 were $145.6 million, or 14 cents per average share, compared to $142.8 million, or 19 cents per average share, in the year-ago quarter. GAAP net income stood at $117.8 million, or 11 cents per average share. Net interest income for the quarter increased to $186.9 million from $155.4 million in second quarter 2010.During the quarter, the company sold residential mortgage-backed securities with a carrying value of $16.4 million for realized losses of $380,000 as compared to no sales in the prior-year quarter. At the end of June 30, 2011, interest earning assets stood at $10.01 million, vs. $6.59 million as of June 30, 2010. Of the 12 analysts covering the stock, 42% recommend a buy and the rest rate a hold. There are no sell ratings on the stock. Analysts polled by Bloomberg foresee the stock gaining an average 17.8% to $3.66 in the upcoming 12 months.
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