Dallas, Texas 09/10/2013 (Financialstrend) – On 3 September Chimera Investment Corporation (NYSE:CIM) obtained an extension of its NYSE listing. It can continue trading of its stock at the NYSE exchange. This extension is subject to further review on an ongoing-basis. This extension provides CIM until 31 January 2014 to file the company’s Annual Report for 2012 with the SEC. In the extension period the trading of its shares in the New York Stock Exchange will not be affected in any way.
CIM continues to work at a steady pace to complete all its ongoing-work towards maintaining current information on all the filings that are required under the securities laws that are applicable. It will file the quarterly-report for the quarter that ended 30 June 2012 and all the subsequent quarterly reports that had not been filed, as well as its Annual Report as soon as it is practicable.
CIM invests in Residential mortgage-loans, RMBS, real estate related securities and numerous other asset classes. Its primary business aim is to generate income from spread between the yields of its various investments. It also generates income from its hedging and borrowing activities. This company is based in Maryland and has chosen to be taxed as a REIT.
Struggle with reports
The company sports a strong 12% yield. However, its payout has been on the decline and there is a distinct possibility that the downward trend is not going to change. The company has taken on more risks than most of its peers and has been facing some trouble with filing all its reports on schedule. Some market watchers have also questioned its heavy management fees.
In Monday’s trading session, Chimera Investment Corporation (NYSE:CIM) stock dipped by 1.33%. The opening price of the shares was $2.99 which rose to an intraday high of $3.00 and closed at $2.96. Approximately 6.95 million shares were traded on Monday and the average volume of shares traded over a 30 day period was 6.90 million. The company has a market cap of $3.04 billion.