Chimera Investment (NYSE:CIM) boosted profits by 64.47 percent to $533 million in full year 2010 as of October, after posting a return to positive territory in full year 2009 by generating $324 million in profits. That compares to $120 million for full year 2008. For the first quarter of 2011, the company made $156.22 million in profits. In comparison, the first quarter of 2010 generated profits of $95.46 million.
For 2011, the Street estimates non-GAAP EPS to come in at a range of $0.53 and $0.70. In 2010, non-GAAP EPS was $0.66. The next earnings release is on May 2, with analysts projecting between $0.13 and $0.17. In comparison, the first quarter of 2010 produced $0.19. This investment is not purely or necessarily primarily for capital appreciation, but it is also for the dividend payments.
Chimera puts its capital to work in U.S. government and private residential mortgage-backed securities representing interests in obligations backed by pools of mortgage loans. The debt to equity ratio of the company is 1.10.
At this time Chimera Investment is yielding 15.8%. The next dividend payment of $0.14 is on April 28 and payable to investors of record as of March 31.
Chimera closed Friday at $3.96, level with the closing on Thursday.
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