Chimera Investment Corp rises after UBS upgrades on strong book value performance

Chimera Investment

14/05/2025 18:09

** Brokerage UBS upgrades mortgage REIT Chimera Investment Corp CIM.N to "buy" from "neutral", raises PT to $15 from $11.50

** New PT represents an 11.5% upside to the stock's last close

** Shares of CIM rise 3.3% to $13.46

** CIM's book value has performed better than expected, and its earnings and return on equity (ROE) will be higher than previously thought, says UBS

** Brokerage believes CIM is able to optimize its liabilities to free up additional capital for reinvestment, which will add to its earnings

** "With the higher earnings estimates we see the potential for CIM to increase its dividend in the coming quarters" — UBS

** Including session's moves, CIM stock down 3.9% YTD

(Reporting by Padmanabhan Ananthan)

((Padmanabhan.Ananthan@thomsonreuters.com))