Chimera Is Not A Good Takeover Target For Annaly Capital

By Parsimony Investment Research:As if the second consecutive delayed filing wasn't enough to make Chimera Investment Corporation (CIM) investors a little squeamish, the company also recently announced that it has fired its auditor.

By Parsimony Investment Research:Founded in 2007, Chimera Investment Corporation (CIM) acquires and manages residential mortgage-backed securities, residential mortgage loans, and real estate securities. Chimera is a real estate investment trust that is externally managed by FIDAC (Fixed Income Discount Advisory Company). FIDAC is a wholly-owned subsidiary of Annaly Capital Management, Inc.

By Hawkinvest:Annaly Capital Management, Inc. (NLY) recently announced a deal to buy Crexus Investment Corp. (CXS), which was valued at $840 million.

ByJoseph P. Porter:CreXus Investment Corp. (CXS) presented its IPO in 2009 - just over three years ago - and began operating as a real-estate investment trust (REIT) primarily focusing on commercial mortgages and mortgage-backed securities (CMBS).

By Parsimony Investment Research:In general, we are still bullish on mortgage real estate investment trusts (“mREITs”), particularly agency-focused mREITs. We think the current economic and interest rate picture is positive for mREITs. A weak economy is actually a good environment for mREITs, which benefit from low interest rates and a steep yield curve.

By Zvi Bar:On Monday, November 12, Annaly Capital Management (NLY), the largest mortgage REIT, announced that it plans to buy Crexus Investment Corp (CXS).

By Matt Schilling:On Dec. 12, the Federal Reserve announced that it will expand its pre-existing asset purchase program by buying $45 billion a month of Treasury securities, bringing its total to $85 billion per month. Given the fact many of the agency-based mortgage REITs will be pressured by the Fed's enhanced spending behavior, I wanted to examine one of the more well-known non-agency-based REITs.

By Ed Liston: Introduction