I owned them in march of last year (the beginning of the tumble).....I finally gave in and sold in July at $3.30 a 0.71 per share loss (after dividends).....I hated to do it back then but I'm glad I did now haha
by the time mReits had come across my screen, CIM was a dirty word. Then I found that they are managed by NLY's agency.
Hey, but what does their management care about reputation, he gets 35mm this year.
I have some in retirement account, took a lil hit on it, but i guess the lowered div will kinda even it out. Kinda dissapointing. Seems it's never good when they start firing bookeepers and things. There is usually a reason, and it's always bad. Good call, smart move on your part.
With all the uncertainty around CIM, it is wonder the stock has held up as well. There is very little visibility into what the company does and how it keeps its books. Competing investments (AGNC, MTGE) offer 15% with none of the headaches. I had a small speculative long position that I exited a few weeks ago after giving management the benefit of the doubt for far too long. CIM management is not done cutting dividends. There is more downside pain ahead. Stock could breach 2$.