Chimera Investment Co. Announces Quarterly Dividend of $0.37 (NYSE:CIM)

Chimera Investment Co. (NYSE:CIM) declared a quarterly dividend on Wednesday, June 11th, RTT News reports. Stockholders of record on Monday, June 30th will be given a dividend of 0.37 per share by the real estate investment trust on Thursday, July 31st. This represents a $1.48 annualized dividend and a dividend yield of 10.65%.

Chimera Investment has a payout ratio of 77.9% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline.

Chimera Investment Price Performance

NYSE CIM opened at $13.90 on Thursday. The firm’s 50 day moving average is $12.44 and its 200-day moving average is $13.56. The company has a quick ratio of 3.03, a current ratio of 0.06 and a debt-to-equity ratio of 2.82. The company has a market capitalization of $1.13 billion, a PE ratio of 12.86 and a beta of 1.75. Chimera Investment has a 12-month low of $9.85 and a 12-month high of $16.89.

Chimera Investment (NYSE:CIM) last issued its quarterly earnings results on Thursday, May 8th. The real estate investment trust reported $0.41 EPS for the quarter, topping the consensus estimate of $0.38 by $0.03. The firm had revenue of $69.22 million for the quarter, compared to analysts’ expectations of $72.07 million. Chimera Investment had a net margin of 20.28% and a return on equity of 7.00%. Equities research analysts anticipate that Chimera Investment will post 1.57 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Chimera Investment stock. Dynamic Technology Lab Private Ltd increased its stake in shares of Chimera Investment Co. (NYSE:CIM) by 36.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 16,568 shares of the real estate investment trust’s stock after buying an additional 4,399 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Chimera Investment were worth $213,000 as of its most recent filing with the SEC. 48.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently weighed in on CIM shares. UBS Group raised shares of Chimera Investment from a “neutral” rating to a “buy” rating and raised their target price for the company from $11.50 to $15.00 in a research note on Wednesday, May 14th. Wall Street Zen raised shares of Chimera Investment from a “hold” rating to a “buy” rating in a research report on Thursday, May 15th. Finally, Royal Bank of Canada upgraded shares of Chimera Investment to a “moderate buy” rating in a research note on Friday, March 14th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $15.50.

About Chimera Investment

Chimera Investment Corporation operates as a real estate investment trust (REIT) in the United States. The company, through its subsidiaries, invests in a portfolio of mortgage assets, including residential mortgage loans, agency residential mortgage-backed securities, non-agency residential mortgage-backed securities, agency mortgage-backed securities secured by pools of commercial mortgage loans, business purpose and investor loans, and other real estate related securities.