In trading on Friday, shares of Chimera Investment Corp’s 8.00% Series A Cumulative Redeemable Preferred Stock (CIM.PRA) yielded over 10% based on an annualized dividend of $2.00, with shares trading as low as $19.90. This yield significantly exceeds the average of 8.28% within the “Real Estate” preferred stock category.
As of the last market close, CIM.PRA was priced at a 19.56% discount to its liquidation preference, higher than the average 16.20% discount for the sector. On the same day, CIM.PRA declined by approximately 0.7%, while the common shares (CIM) dropped about 2.1%.
