CHIMERA INVESTMENT CORP

Listed Company

CIMOCIK 0001409493NYSELarge AcceleratedReal Estate Investment TrustsNew YorkFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$230.50M

Total Assets

$15.81B

Equity

$2.57B

Shares Out

83.40M

Op. Cash Flow

$-248.88M

Business

CHIMERA INVESTMENT CORP is a publicly traded REIT that primarily invests in and securitizes a diversified portfolio of residential mortgage and other real estate-related assets, and provides third-party investment management and advisory services. It acquires residential mortgage loans, Non‑Agency and Agency RMBS, business purpose and residential transition loans, investor loans, mortgage servicing rights, CMBS, junior liens, HELOCs and related assets, and offers discretionary and non-discretionary management and advisory services. The company operates through investment and securitization activities across multiple programs (R, NR, I, J, INV) and provides services via its Palisades investment management platform. It sources assets from banks, non‑bank financial institutions, lenders and originators, sells senior securities to third parties, and finances portfolios through securitizations, warehouse facilities, repurchase agreements and institutional relationships.

Summary from filing dated 2025-02-19

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Interest income	821	761	773	773	—
Interest expense	555	496	510	333	—
Net interest income	266	265	263	440	611
Increase in provision for credit losses	16	10	11	7	33,000
Net unrealized gains (losses) on derivatives	10	3	−6	−1	0
Realized losses on derivatives	−33	−22	−41	−561,000	0
Periodic interest on derivatives, net	20	24	17	−2	0
Net gains (losses) on derivatives	−3	5	−30	−4	0
Investment management and advisory fees	35	3	0	0	—
Interest income from investment in MSR financing receivables	520,000	0	0	—	—
Net unrealized gains on financial instruments at fair value	82	11	34	−737	437
Net realized losses on sales of investments	−23	−5	−31	−76	45
Gains on extinguishment of debt	2	0	4	−3	−284
Other investment gains	6	10	1	−2	0
Gain on origination and sale of loans, net	21	0	0	—	—
Total other income (losses)	120	23	−22	−822	199
Compensation and benefits	57	41	31	49	47
General and administrative expenses	30	23	25	23	22
Servicing and asset manager fees	28	30	33	36	37
Amortization of intangibles and depreciation expenses	7	321,000	0	0	—
Transaction expenses	17	7	15	16	30
Total other expenses	138	102	104	124	135
Income before income taxes	233	176	126	−513	675
Income tax expense	2	49,000	102,000	−253,000	4
Net income	230	176	126	−513	670
Dividends on preferred stock	86	86	74	74	74
Net income available to common shareholders	144	90	52	−587	596
Basic (in dollars per share)	1.76	1.12	0.68	−7.53	2.55
Diluted (in dollars per share)	1.72	1.1	0.68	−7.53	2.44
Basic (in shares)	82	81	77	78	234
Diluted (in shares)	84	82	78	78	245

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	279	84	222	265	386
Non-Agency RMBS, at fair value (net of allowance for credit losses of $43 million and $28 million, respectively)	817	1,064	1,044	1,147	1,810
Agency MBS, at fair value	3,463	519	102	431	—
Loans held for investment, at fair value	9,804	11,197	11,397	11,359	12,262
Loans held-for-sale, at fair value	896	0	—	—	—
Accrued interest receivable	79	81	77	62	70
Other assets	408	171	87	134	58
Interests in MSR financing receivables	37	0	—	—	—
Derivatives, at fair value, net	25	117,000	0	4	0
Total assets	15,809	13,116	12,929	13,402	15,407
Secured financing agreements ($7.4 billion and $4.1 billion pledged as collateral, respectively, and includes $299 million and $319 million at fair value, respectively)	6,031	2,824	2,432	3,435	3,262
Securitized debt, collateralized by Non-Agency RMBS ($210 million and $229 million pledged as collateral, respectively)	67	71	75	79	88
Securitized debt at fair value, collateralized by Loans held for investment ($9.4 billion and $10.2 billion pledged as collateral, respectively)	6,721	6,984	7,602	7,101	7,726
Long term debt	252	135	0	—	0
Payable for investments purchased	3	455	159	9	477
Accrued interest payable	43	41	38	31	20
Dividends payable	35	34	55	65	86
Accounts payable and other liabilities	82	45	9	17	12
Derivatives, at fair value, net	2	0	—	—	—
Total liabilities	13,236	10,590	10,370	10,735	11,671
Commitments and Contingencies (See Note 18)	—	—	—	—	—
Common stock: par value $0.01 per share; 166,667,667 shares authorized, 80,472,622 and 80,453,552 shares issued and outstanding, respectively	834,000	809,000	804,000	2	2
Additional paid-in-capital	4,429	4,391	4,370	4,318	4,359
Accumulated other comprehensive income	146	159	186	229	405
Cumulative earnings	4,572	4,341	4,165	4,039	4,552
Cumulative distributions to stockholders	−6,575	−6,366	−6,163	−5,923	−5,583
Total stockholders' equity	2,573	2,526	2,559	2,667	3,736
Total liabilities and stockholders' equity	15,809	13,116	12,929	13,402	15,407

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
(Accretion) Amortization of investment discounts/premiums, net	−25	5	16	61	71
Accretion of deferred financing costs, debt issuance costs, and Securitized debt discounts/premiums, net	19	14	32	−258,000	9
Proceeds (payments) for derivative settlements	0	15	−21	−6	0
Margin (paid) received on derivatives	−70	−10	70	−40	0
Net unrealized (gains) losses on financial instruments at fair value	−82	−11	−34	—	—
Net increase in provision for credit losses	16	10	11	7	33,000
Gain on origination and sale of loans, net	1	0	0	—	—
Equity-based compensation expense	10	10	10	8	7
Direct loan origination costs, net	−1,038	0	0	—	—
Sales, settlements and proceeds from sale of loans held-for-sale	672	0	0	—	—
Fair Value adjustment on mortgage loans held-for-sale	−8	0	0	—	—
(Increase) decrease in accrued interest receivable, net	7	−4	−15	8	12
Decrease (increase) in other assets	12	−15	−15	−33	−36
(Decrease) increase in accounts payable and other liabilities	−6	10	−7	5	7
Increase in accrued interest payable, net	−719,000	4	8	10	−20
Net cash (used in) provided by operating activities	−249	206	213	326	519
Payments on purchases of investment in MSR financing receivables	−38	0	0	—	—
Net cash (used in) provided by investing activities	−1,657	178	552	510	2,548
Proceeds from secured financing agreements	54,499	30,011	29,073	37,816	45,623
Payments on secured financing agreements	−51,768	−29,613	−30,090	−37,638	−47,001
Payments on repurchase of common stock	0	0	−33	−49	−2
Proceeds on issuance of common stock	0	0	74	0	0
Proceeds from securitized debt borrowings, collateralized by Loans held for investment	1,011	340	2,186	1,123	5,522
Payments on securitized debt borrowings, collateralized by Loans held for investment	−1,543	−1,171	−1,767	−1,844	−6,440
Payments on securitized debt borrowings, collateralized by Non-Agency RMBS	−17,000	−98,000	−53,000	−3	−22
Net proceeds from issuance of unsecured debt	115	134	0	0	—
Common dividends paid	−123	−119	−195	−288	−299
Preferred dividends paid	−86	−104	−55	−74	−74
Net cash provided by (used in) financing activities	2,106	−522	−808	−957	−2,951
Net increase (decrease) in cash, cash equivalents and restricted cash	200	−138	−43	−121	117
Interest received	799	761	774	842	1,020
Interest paid	535	479	470	323	339
Income taxes paid	4	49,000	102,000	−253,000	4
Payable for investments purchased	3	455	159	9	477
Net change in unrealized gain (loss) on available-for sale securities	−13	−26	−45	−176	−153
Non-Cash Consideration paid for HomeXpress	27	0	0	—	—

Filings

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