Chimera Investment (NYSE:CIM) Posts Earnings Results, Misses Expectations By $0.09 EPS

Chimera Investment (NYSE:CIM) posted its quarterly earnings data on Thursday. The real estate investment trust reported $0.37 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.09), Zacks reports. The firm had revenue of $16.49 million for the quarter, compared to analysts’ expectations of $84.51 million. Chimera Investment had a return on equity of 7.28% and a net margin of 21.93%.

Chimera Investment Stock Performance

Shares of NYSE CIM traded down $1.25 during trading hours on Thursday, reaching $11.73. The stock had a trading volume of 2,244,387 shares, compared to its average volume of 594,663. Chimera Investment has a twelve month low of $9.85 and a twelve month high of $15.48. The company has a market cap of $950.99 million, a price-to-earnings ratio of 9.31 and a beta of 1.87. The business’s fifty day moving average is $13.44 and its two-hundred day moving average is $13.45. The company has a debt-to-equity ratio of 4.47, a current ratio of 4.14 and a quick ratio of 4.14.

Chimera Investment Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th were issued a dividend of $0.37 per share. The ex-dividend date was Tuesday, September 30th. This represents a $1.48 annualized dividend and a dividend yield of 12.6%. Chimera Investment’s payout ratio is presently 117.46%.

Analysts Set New Price Targets

Several equities analysts have commented on CIM shares. UBS Group raised their price target on shares of Chimera Investment from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Thursday, July 10th. Weiss Ratings restated a “hold (c-)” rating on shares of Chimera Investment in a research report on Wednesday, October 8th. Wall Street Zen downgraded Chimera Investment from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Finally, Keefe, Bruyette & Woods reduced their price objective on Chimera Investment from $16.50 to $15.00 and set a “market perform” rating on the stock in a research note on Thursday, July 10th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Chimera Investment currently has a consensus rating of “Hold” and a consensus target price of $15.50.

Institutional Trading of Chimera Investment

Several institutional investors and hedge funds have recently made changes to their positions in CIM. Balyasny Asset Management L.P. lifted its position in Chimera Investment by 2.3% in the 2nd quarter. Balyasny Asset Management L.P. now owns 1,547,432 shares of the real estate investment trust’s stock valued at $21,463,000 after acquiring an additional 35,425 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Chimera Investment by 8.6% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 916,858 shares of the real estate investment trust’s stock worth $12,717,000 after acquiring an additional 72,268 shares during the period. JPMorgan Chase & Co. increased its position in Chimera Investment by 42.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 246,471 shares of the real estate investment trust’s stock worth $3,419,000 after purchasing an additional 73,634 shares in the last quarter. Bank of America Corp DE grew its holdings in Chimera Investment by 51.9% during the 2nd quarter. Bank of America Corp DE now owns 139,567 shares of the real estate investment trust’s stock worth $1,936,000 after acquiring an additional 47,703 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Chimera Investment in the 2nd quarter worth approximately $1,188,000. Institutional investors own 48.44% of the company’s stock.

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.