After spending much of 2009 at an underwhelming two-star rank, Chimera Investment
Chimera Investment is a spinoff of Annaly Capital Management
The company recently announced a big jump in fourth-quarter earnings and said it's been busy buying a large number of deeply discounted securities. To take advantage of opportunities it's been seeing, Chimera recently announced that it was raising more than $300 million in cash via a secondary stock offering. Management has seen improvements in the securitization market since the financial crisis and has seen a pickup in demand for securities as well as new capital coming into its markets. Such changes are causing a shift in the mortgage REIT market.
For example, one California mortgage real estate investment trust, Redwood Trust
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