Piedmont Investment Advisors LLC Increases Stake in Chimera Investment Corporation (NYSE:CIM)

Piedmont Investment Advisors LLC increased its position in Chimera Investment Corporation (NYSE:CIM) by 131.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,837 shares of the real estate investment trust’s stock after buying an additional 15,795 shares during the period. Piedmont Investment Advisors LLC’s holdings in Chimera Investment Corporation were worth $562,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Russell Investments Group Ltd. bought a new stake in Chimera Investment Corporation during the fourth quarter worth about $5,266,000. State Board of Administration of Florida Retirement System increased its stake in Chimera Investment Corporation by 5.6% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 353,658 shares of the real estate investment trust’s stock worth $6,019,000 after buying an additional 18,620 shares during the period. State Street Corp increased its stake in Chimera Investment Corporation by 0.9% in the fourth quarter. State Street Corp now owns 2,804,574 shares of the real estate investment trust’s stock worth $47,731,000 after buying an additional 24,932 shares during the period. FMR LLC increased its stake in Chimera Investment Corporation by 53.7% in the fourth quarter. FMR LLC now owns 919,405 shares of the real estate investment trust’s stock worth $15,648,000 after buying an additional 321,400 shares during the period. Finally, Credit Agricole S A bought a new stake in Chimera Investment Corporation during the fourth quarter worth about $110,000. Institutional investors and hedge funds own 55.66% of the company’s stock.

Shares of Chimera Investment Corporation (NYSE CIM) opened at 18.66 on Tuesday. Chimera Investment Corporation has a one year low of $14.70 and a one year high of $20.90. The stock has a 50 day moving average of $18.75 and a 200-day moving average of $18.76. The company has a market capitalization of $3.50 billion, a price-to-earnings ratio of 5.62 and a beta of 0.93.

Chimera Investment Corporation (NYSE:CIM) last posted its quarterly earnings results on Monday, May 1st. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by $0.07. The company had revenue of $141.11 million during the quarter, compared to analyst estimates of $140.90 million. Chimera Investment Corporation had a net margin of 64.18% and a return on equity of 14.14%. Chimera Investment Corporation’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.58 EPS. On average, equities analysts expect that Chimera Investment Corporation will post $2.37 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, July 28th. Shareholders of record on Friday, June 30th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 10.72%. The ex-dividend date is Wednesday, June 28th. Chimera Investment Corporation’s dividend payout ratio is currently 60.24%.

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Several research firms have recently weighed in on CIM. Zacks Investment Research upgraded shares of Chimera Investment Corporation from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a research note on Tuesday, April 18th. Barclays PLC set a $17.00 price objective on shares of Chimera Investment Corporation and gave the company a “hold” rating in a research note on Monday, May 8th. ValuEngine raised shares of Chimera Investment Corporation from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 3rd. Finally, BidaskClub raised shares of Chimera Investment Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, June 15th. Seven research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Chimera Investment Corporation has an average rating of “Hold” and a consensus price target of $17.75.

About Chimera Investment Corporation

Chimera Investment Corporation is a real estate investment trust (REIT). The company is engaged in the business of investing in a portfolio of mortgage assets, including agency residential mortgage-backed security (RMBS), non-agency RMBS, agency commercial mortgage-backed securities (CMBS), residential mortgage loans and real estate related securities.

Institutional Ownership by Quarter for Chimera Investment Corporation (NYSE:CIM)

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