Company: CIMO
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001628280-25-023813
Chunk: 188

Company: CHIMERA INVESTMENT CORP
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 2
Chunk 188
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82,529,957 81,855,872 82,281,890 81,718,214 

(1) Potentially dilutive shares related to restricted stock units and performance stock units excluded from the computation of weighted average GAAP diluted shares because their effect would have been anti-dilutive given the GAAP net loss available to common shareholders for the quarter ended December 31, 2024.

Our Earnings available for distribution for the quarter ended March 31, 2025 were $34 million, or $0.41 per average diluted common share, and increased by $4 million, compared to $30 million, or $0.37 per average diluted common share for the quarter ended December 31, 2024. This increase in earnings available for distribution was primarily driven by lower interest expense on our Agency RMBS secured financings and an increase in investment management and advisory fees related to our advisory business.

Our Earnings available for distribution for the quarter ended March 31, 2025 were $34 million, or $0.41 per average diluted common share, and increased by $3 million, compared to $31 million, or $0.37 per average diluted common share for the quarter ended March 31, 2024. This increase in Earnings available for distribution was primarily driven by higher interest income driven by Agency CMO and Agency Pass-through purchases and an increase in investment management and advisory fees related to our advisory business.

Net Income (Loss) and Return on Total Stockholders' Equity

The table below shows our Net Income and Economic net interest income as a percentage of average stockholders' equity and Earnings available for distribution as a percentage of average common stockholders' equity. Return on average equity is defined as our GAAP net income (loss) as a percentage of average equity. Average equity is defined as the average of our beginning and ending stockholders' equity balance for the period reported. Economic net interest income and Earnings available for distribution are non-GAAP measures as defined in previous sections.

 Return on Average EquityEconomic Net Interest Income/Average Equity Earnings available for distribution/Average Common Equity (Ratios have been annualized)For the Quarter Ended March 31, 202525.89 %11.19 %8.10 %For the Quarter Ended December 31, 2024(22.27)%10.52 %7.16 %For the Quarter Ended September 30, 202420.30