Chimera Investment Corporation (CIM) To Go Ex-Dividend on June 30th

Chimera Investment Corporation (NYSE:CIM) announced a quarterly dividend on Wednesday, June 11th, RTT News reports. Investors of record on Monday, June 30th will be paid 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 yield of 10.53%. The ex-dividend date is Monday, June 30th.

Chimera Investment has a dividend 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 fall.

Chimera Investment Stock Down 0.2%

NYSE:CIM opened at $14.06 on Friday. Chimera Investment has a 1 year low of $9.85 and a 1 year high of $16.89. The stock has a 50-day moving average price of $13.12 and a two-hundred day moving average price of $13.48. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of 9.37 and a beta of 1.75. The company has a current ratio of 3.70, a quick ratio of 3.70 and a debt-to-equity ratio of 3.93.

Chimera Investment (NYSE:CIM) last released its quarterly earnings data on Thursday, May 8th. The real estate investment trust reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.03. Chimera Investment had a return on equity of 7.25% and a net margin of 25.12%. The business had revenue of $69.22 million for the quarter, compared to analysts’ expectations of $72.07 million. As a group, equities analysts expect that Chimera Investment will post 1.57 earnings per share for the current year.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Chimera Investment

An institutional investor recently raised its position in Chimera Investment stock. Empowered Funds LLC lifted its holdings in Chimera Investment Corporation (NYSE:CIM) by 12.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,322 shares of the real estate investment trust’s stock after purchasing an additional 2,430 shares during the quarter. Empowered Funds LLC’s holdings in Chimera Investment were worth $274,000 as of its most recent SEC filing. 48.44% of the stock is owned by hedge funds and other institutional investors.

Chimera Investment Company Profile

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.