Items Tagged with 'Chimera Investment Corp.'

ARTICLES

  • Mortgage REIT Insider: Dividends Dry Up

    The commercial real estate bust continues to take its toll, particularly for the New York-based commercial mortgage REITs. This week, three of the major commercial mREITs announced that realized taxable losses had all but eliminated their dividend requirements for the rest of the year. Arbor Realty Trust [stock ABR][/stock] cut its third-quarter dividend to just $0.24/share, a 61 percent reduction in its quarterly payout. That payout will be Arbor’s last dividend for 2008, as the company doesn’t plan to pay a fourth-quarter dividend.
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  • Mortgage REIT Insider: FBR's Feet Held to the Fire

    Friedman, Billings, Ramsey Group [stock FBR][/stock] provided a disappointing debut for the third-quarter earnings season. FBR reported a GAAP net loss of $1.12/share and posted a cash operating loss of $1.5 million for the third quarter. Results were weighed down primarily by non-cash marks to the existing MBS portfolio, which swamped the $4.1 million gain realized on the repurchase of outstanding trust preferred.
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  • Mortgage REIT Insider: Chimera Gets a Lesson on Leverage

    Earlier this year, Chimera Investment Corp. [stock CIM][/stock] bit off more than it could chew, and indigestion finally set in this past week. I wondered back in March if Chimera was quietly struggling to stay afloat after leveraging up at just the wrong time -- it had quadrupled its reliance on repurchase lines just as competitor MFA Mortgage [stock MFA][/stock] was selling assets to de-lever its balance sheet.
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