Company: CIMO
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001628280-25-023813
Chunk: 189

Company: CHIMERA INVESTMENT CORP
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 2
Chunk 189
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%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 25.89% for the quarter ended March 31, 2025, as compared to (22.27)% for the quarter ended December 31, 2024. Economic net interest income as a percentage of average equity increased by 67 basis points for the quarter ended March 31, 2025 as compared to the quarter ended December 31, 2024. Earnings available for distribution as a percentage of average common equity increased slightly by 94 basis points for the quarter ended March 31, 2025 as compared to the quarter ended December 31, 2024.

62

Financial Condition

Portfolio Review

During the quarter ended March 31, 2025, we focused our efforts on taking advantage of the opportunity to acquire higher yielding assets while maintaining low leverage and ample liquidity. During the quarter ended March 31, 2025, on an aggregate basis, we purchased $553 million of investments and received $378 million 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 March 31, 2025 and December 31, 2024. 

March 31, 2025December 31, 2024Interest earning assets at period-end (1)$12,700,015 $12,780,065 Interest bearing liabilities at period-end$10,397,198 $10,014,759 GAAP Leverage at period-end 3.9:1 4.0:1GAAP Leverage at period-end (recourse) 1.2:1 1.2:1

(1) Excludes cash and cash equivalents.

March 31, 2025December 31, 2024March 31,2025December 31, 2024Portfolio CompositionAmortized CostFair ValueNon-Agency RMBS7.9 %7.9 %8.3 %8.3 %Senior3.7 %3.7 %4.7 %4.8 %Subordinated3.0 %3.0 %