Overview

• Chimera Q3 GAAP net loss of $0.27 per share

• Adjusted EPS of $0.37 missed analyst expectations

• Completed acquisition of HomeXpress for $240 mln in cash and stock

Outlook

• Company did not provide specific financial guidance for future quarters

Result Drivers

• ACQUISITION STRATEGY - Co transitioned to cash in preparation for HomeXpress acquisition, aiming to diversify and grow earnings

• ECONOMIC RETURN - Co reported an economic return of (1.4)% for the quarter, indicating challenges in market conditions

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the specialized reits peer group is "hold"

• Wall Street's median 12-month price target for Chimera Investment Corp is $15.50, about 16.3% above its November 5 closing price of $12.98

• The stock recently traded at 7 times the next 12-month earnings vs. a P/E of 7 three months ago

Press Release: ID:nBwbVw5wVa

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)