Chimera Investment: Discount To Book Value Is Attractive [Seeking Alpha]
Chimera Investment Corporation (CIM)
Last chimera investment corporation earnings: 2/12 07:00 am
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US:NYSE Investor Relations:
chimerareit.com/investors
Company Research
Source: Seeking Alpha
The company primarily invests in mortgage assets, with a focus on residential loans that have a strong track record of performance. Q1 2024 earnings were mixed, but CIM stock price still underprices the fundamental performance of the business. Shares are a buy with price target of $15. Investment Thesis Pessimism surrounding Chimera Investment ( NYSE: CIM ) has brought the stock to a 5-year low, at around $12 per share at the time of this writing. As a mREIT, this isn't too unusual, as a lot of mortgage REITs trade at cheap valuations due to rising rates in the past that have crushed book values. However, at this price the discount to book value is way too wide, and I think future dividend cuts are unlikely. I think book values and dividends have stabilized, which should support the stock price from here on out. Thus, the bottom seems to be in, and I think Chimera Investment is way too cheap to pass up on for investors. Company Overview According to the annual report , th
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CIM
News
- Chimera (CIM) Stock Jumps 7.5%: Will It Continue to Soar? [Yahoo! Finance]Yahoo! Finance
- Chimera Increases Second Quarter 2024 Common Stock Dividends to $0.35Business Wire
- 9%+ Yields For Bigger Income [Seeking Alpha]Seeking Alpha
- CIMN: New Bond From Chimera, 9.2% Current Yield [Seeking Alpha]Seeking Alpha
- Chimera Investment Co. (NYSE: CIM) was upgraded by analysts at StockNews.com from a "hold" rating to a "buy" rating.MarketBeat
CIM
Earnings
- 5/9/24 - Beat
CIM
Sec Filings
- 6/18/24 - Form 4
- 6/13/24 - Form 8-K
- 6/6/24 - Form 4
- CIM's page on the SEC website