Company: CIMO
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001628280-25-006426
Chunk: 453

Company: CHIMERA INVESTMENT CORP
Filing Date: 2025-02-19
Form: 10-K
Item: Item 7
Chunk 453
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420.30 %10.64 %6.79 %For the Quarter Ended June 30, 20248.57 %11.06 %7.08 %For the Quarter Ended March 31, 202419.90 %10.45 %7.31 %

Return on average equity increased to 6.72% for the year ended December 31, 2024, as compared to 4.87% for the year ended December 31, 2023. Economic net interest income as a percentage of average equity increased by 27 basis points for the year ended December 31, 2024 as compared to the year ended December 31, 2023. Earnings available for distribution as a percentage of average common equity decreased slightly by 3 basis points for the year ended December 31, 2024 as compared to the year ended December 31, 2023.

Financial Condition

Portfolio Review

During the year ended December 31, 2024, we focused our efforts on taking advantage of the opportunity to acquire higher yielding assets while maintaining low leverage and ample liquidity. During the year ended December 31, 2024, on an aggregate basis, we purchased $1.8 billion of investments, sold $569 million of investments, and received $1.5 billion in principal payments related to our Agency MBS, Non-Agency RMBS and Loans held for investment portfolio.

The following table summarizes certain characteristics of our portfolio at December 31, 2024 and December 31, 2023. 

December 31, 2024December 31, 2023Interest earning assets at period-end (1)$12,780,065 $12,543,336 Interest bearing liabilities at period-end$10,014,759 $10,109,008 GAAP Leverage at period-end 4.0:1 4.0:1GAAP Leverage at period-end (recourse) 1.2:1 1.0:1

(1) Excludes cash and cash equivalents.

December 31, 2024December 31, 2023December 31, 2024December 31, 2023Portfolio CompositionAmortized CostFair ValueNon-Agency RMBS7.9 %7.5 %8.3 %8.3 %Senior3.7 %4.0 %4.8 %5.