Chimera Investment ( (CIM) ) has released its Q1 earnings. Here is a breakdown of the information Chimera Investment presented to its investors.
Chimera Investment Corporation is a publicly traded real estate investment trust (REIT) that primarily invests in a diversified portfolio of real estate assets, including residential mortgage loans, Non-Agency RMBS, Agency RMBS, business purpose and investor loans, and other real estate-related assets. The company also offers investment management and advisory services.
In its latest earnings report for the first quarter of 2025, Chimera Investment Corporation reported a GAAP net income of $1.77 per diluted common share and earnings available for distribution of $0.41 per diluted common share. The company’s GAAP book value per common share increased to $21.17, with an economic return of 9.20%. The company also highlighted a successful cash-out refinancing of its outstanding non-Remic securitizations, generating approximately $187 million for new investments.
Key financial metrics showed improvement, with earnings available for distribution rising by 11% and the book value increasing by 7.4%. The company extended two large non-mark to market secured financing facilities until 2027, enhancing its financial flexibility. Net interest income for the quarter was $69.2 million, up from $65.1 million in the same quarter last year, while net income available to common shareholders increased to $145.9 million from $111.0 million in the first quarter of 2024.
Looking ahead, Chimera Investment Corporation remains focused on optimizing its investment portfolio and maintaining strong financial performance. The management’s strategic initiatives, including refinancing and extending financing facilities, are expected to support the company’s growth and investment opportunities in the real estate sector.