Chimera and Annaly Capital Look to Benefit as New Stimulus to Keep Interest Rates Low Until at Least Mid-2015

The Paragon Report Provides Stock Research on Chimera and Annaly Capital


NEW YORK, NY--(Marketwire - Sep 17, 2012) -  High Yielding REITs have surged in 2012 as the U.S. housing market has experienced a steady recovery. The Market Vectors Mortgage REIT ETF (MORT) recently hit a new 52-week high and is up over 20 percent for the year. The Federal Reserve last Thursday announced the implementation of Quantitative Easing 3, which will focus on bond purchases in the mortgage market. The Paragon Report examines investing opportunities on diversified REITs and provides equity research on Chimera Investment Corporation (NYSE: CIM) and Annaly Capital Management, Inc. (NYSE: NLY).

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In a statement released last Thursday the Fed announced it would purchase $85 billion in bonds a month for the rest of 2012. In 2013, the Fed will then continue to purchase $40 billion per month of mortgage backed securities indefinitely until they believe the economy does not require the support. Also the benchmark interest rate is to remain low till at least mid-2015, six months longer than previously planned.

"These actions, which together will increase the Committee's holdings of longer-term securities by about $85 billion each month through the end of the year, should put downward pressure on longer-term interest rates, support mortgage markets, and help to make broader financial conditions more accommodative," the Fed statement said.

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Chimera offers investors an annual dividend of $0.36 per share for a yield of around 14.7 percent. The company had lowered its dividend from 11 cents in the two previous quarters, and 13 cents in the two quarters before that. Chimera last month surged after reporting details on their restatement. The company has failed to report financial results since the third quarter of 2011.

Annaly Capital Management has declared common dividends for the quarters ended June 30, 2012, June 30, 2011, and March 31, 2012 of $0.55, $0.65, and $0.55 per common share, respectively. The Company distributes dividends based on its current estimate of taxable earnings per common share, not GAAP earnings.

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