Chimera Investment ( (CIM) ) has released its Q4 earnings. Here is a breakdown of the information Chimera Investment presented to its investors.
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Chimera Investment Corporation is a publicly traded real estate investment trust (REIT) that focuses on investing in a diverse portfolio of real estate assets, including residential mortgage loans and various types of mortgage-backed securities. The company operates in the investment management and advisory services sector, managing investments for itself and third parties.
Chimera Investment Corporation recently reported its fourth-quarter and full-year 2024 earnings, showcasing a mixed financial performance. While the company faced a GAAP net loss for the fourth quarter, it achieved a GAAP net income for the full year, indicating some level of resilience in its operations amidst market challenges.
Key financial highlights for Chimera include a fourth-quarter GAAP net loss of $2.04 per diluted common share, with earnings available for distribution at $0.37 per share. For the full year, the company recorded a GAAP net income of $90 million or $1.10 per diluted common share and earnings available for distribution of $121 million or $1.48 per share. The company’s GAAP book value at the end of 2024 stood at $19.72 per common share, reflecting an economic return of 4.40% for the year. Furthermore, the strategic acquisition of Palisades is anticipated to enhance the company’s business and shareholder value in the future.
Despite the challenges reflected in the quarterly loss, Chimera’s management remains focused on building a more resilient and diversified portfolio. The recent acquisition is poised to foster growth opportunities, aiming to bolster the company’s position in the market and deliver long-term value to its shareholders.
Looking forward, Chimera Investment Corporation’s management is optimistic about leveraging its acquisitions and strategic initiatives to strengthen its business operations and enhance shareholder returns, indicating a cautiously positive outlook for the upcoming year.
