Dallas, Texas 09/20/2013 (Financialstrend) – Shares of Chimera Investment Corporation (NYSE:CIM) were trading at $3.05 as of close of business on September 19. The share has gone up 4.81% since September 11, when it hit a 50 day low of $2.91. It is trading at 8% lower in comparison to its 52 weeks high of $3.34 it had reached in April’13. It is trading 22.4% up from its 52 week low of $2.49. It has a market capitalization of $3.12 billion with 1.03 billion shares outstanding. Over 6.30 million of its shares were traded on the browsers yesterday. The company outperformed both Dow Jones and Financials index by a big margin yesterday.
On September 3, the company disclosed that it has received a notification from New York Stock Exchange on August 30 granting the company more time to file its FY12 annual report. To recap, the company has failed to file its Annual Report for FY 12 and thus been picked upon by NYSE for non compliance to its late filing procedure as has been subscribed in the Exchange manual. As per the latest communication the company has been allowed time till January 31’14 to file its 2012 annual report and its stock will continue to be listed traded on the exchange with the caveat that Chimera will be subject to assessment by the exchange on an ongoing basis.
The NYSE has also warned the company that it will be closely monitoring the progress the company is able to demonstrate towards fulfilling its obligations of filing the annual report for 2012 before the extended date. If the exchange is not able to see appreciable progress, it has warned the company that it will not hesitate to suspend Chimera’s listing and trading on NYSE. Chimera Investment Corporation is a boutique financial institution which funds domestic mortgage-backed securities (RMBS).
