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Chimera Investment (CIM) investor relations material
Chimera Investment Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Executed a strategic transformation to a hybrid REIT, focusing on diversification, liquidity, and fee-based income growth, with the first full quarter of HomeXpress contributions and capital allocation realization in Q4 2025.
Acquired HomeXpress Mortgage, expanding origination capabilities and operational income streams, contributing to increased earnings power and a dividend hike for 2026.
FY 2025 was a transition year, highlighted by capital generation, portfolio reallocation, and robust growth in origination and asset management.
Transformation initiatives begun in December 2024 are credited for improved results and increased dividend.
Board raised quarterly dividend by 22% to $0.45, with plans to maintain this level through 2026.
Financial highlights
Q4 2025 GAAP net income: $7M ($0.08/share); full-year GAAP net income: $144M ($1.72/share).
Q4 earnings available for distribution (EAD): $45M ($0.53/share); full-year EAD: $141M ($1.68/share).
Q4 GAAP book value: $19.70/share; Q4 economic return on book value: -0.9%; full-year economic return: +7.4%.
Total assets at year-end 2025 were $15.8B, up from $13.1B at year-end 2024.
Net interest income for 2025 was $266M; economic net interest income: $275M.
Outlook and guidance
Focus remains on portfolio diversification, liquidity expansion, and fee-based income growth, with management expecting continued benefits from the transformation strategy.
Board expects to maintain $0.45/share dividend for all of 2026.
Anticipates continued origination growth at HomeXpress and strong non-QM market expansion in 2026.
Plans to unlock and redeploy capital into Agency MBS, MSRs, and select credit investments.
Forward-looking statements highlight risks from market, regulatory, and operational factors.
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