"There remains very little information about results for any period of 2012." Apparently the company is still treating shareholders like mushrooms in regard to 2012 results. In lieu of this, I think the stock price will swing between 2.75 and 3.35 settling about where it ended Friday.
I have portfolio on yahoo of REITs when ordered by yield CIM is right with NLY at 11.8% yield but NLY as agency and 5 times bigger is not as good a target for valuation as MFA (9% yield) which is at a high right now due to a special dividend. If CIM was increasing dividends due to new found money in the refactoring the financials then it might deserve a valuation like MFA which could put it at $9 that's a good target don't you think?
Sentiment: Strong Buy
re:"Remember, bad news is generally released on Friday afternoon."
Yep, that tends to be the case.
Well, surprisingly enough, they finally showed some respect to the shareholders by releasing the financials(albeit partial #s) instead of waiting until the last minute (next Friday). At least now we have that 600 lb gorilla off our backs. Monday should be interesting.
"Remember, bad news is generally released on Friday afternoon." In this case after reading 10-k I think the friday release was so investors could read & absorb the 10-k over the weekend - no Kneejerk reaction. There is some meaty things in the 10-k to understand.
Next 2 quarters of divie have been confirmed. Very important item for skittish investors.
Most importantly FIDAC has been put on a short leash. FIDAC management fee has been halved for 2013 until mess is cleaned up. Fidac also gets to pick up all the cost of the audit, investigation, etc that insurance does not cover. FIDAC can now be fired much more easily as the manager. All that is needed is majority of independent directors. Do not need cause to get rid of FIDAC - that is a goodie. If the independent directors get up cranky one Monday Morning, FIDAC is toast. Also termination payment clause of FIDAC contract has been eliminated. FIDAC needs to mind their manners closely.
Finally in 60 days from 03/08/13 supposed to see 2012 filings. That we will have to wait & see on.
As to price, it will fluctuate Mon & Tues but with NAV still at around $2.85+ think by end of week should settle down to where it is now. Might also be an okay buying level. If I did not have 8% of portfolio tied up in CIM might be tempted to get some more on Mon or Tues.