Chimera Investment Corp. (CIM), a real estate investment trust, Monday turned to a profit in the third quarter from a year ago, reflecting a surge in interest income.
The New York-based company's third quarter net income was $158 million or $0.24 per share, compared to a net loss of $107.6 million or $2.76 per share in the year ago quarter.
Chimera Investment's third quarter core earnings increased to $85.9 million from $6.3 million in the same quarter last year. On a per share basis, profit declined to $0.13 from $0.16 in the year ago period.
Net interest income for the quarter rose to $95.49 million from $7.92 million in the prior year quarter.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.12 per share on a revenue of $88.46 million for the quarter. Analysts' estimates typically exclude one-time items. Chimera Investment's interest income was $104.69 million, up from $23.45 million while interest expense for the quarter was down at $9.19 million from $15.54 million in the year ago period.
Third quarter net investment income was $167.75 million compared to net investment expense of $105.61 million in the comparable quarter last year.
Loan Loss Provision was $47 thousand compared to a reduction in loan losses of $563 thousand in the prior year quarter.
The company declared common stock dividends for the current quarter, prior quarter last year and the quarter ended June 30 of $0.12, $0.16 and $0.08 per share respectively.The annualized dividend yield on the company's common stock for the third quarter, based on September 30 closing price of $3.82 was 12.57%.
CIM closed Monday's regular trading at $3.68, up $0.19 or 5.44%, on a volume of 10.44 million shares on the NYSE. In after hours, the stock further gained $0.06 or 1.63%, trading at $3.74.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.