KBW Lowers CIM 2011 EPS Estimate

Chimera Investment Corporation CIM reported GAAP and operating EPS of $0.16 and $0.14, respectively, KBW reports. “Earnings did not reflect the full impact of the November capital raise as a significant portion was deployed late in the quarter,” KBW writes. “We are taking our 2011 EPS estimate down by $0.04 as we assume slightly lower returns on new investments.” KBW maintains its Outperform rating on Chimera Investment Corporation, which closed Monday at $4.20.