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

Chimera Investment (NYSE:CIM) released 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. Chimera Investment had a net margin of 21.93% and a return on equity of 7.28%. The business had revenue of $16.49 million for the quarter, compared to analysts’ expectations of $84.51 million.

Chimera Investment Trading Down 9.6%

NYSE:CIM traded down $1.25 on Thursday, reaching $11.73. The company’s stock had a trading volume of 2,244,387 shares, compared to its average volume of 594,663. The firm has a market cap of $950.99 million, a price-to-earnings ratio of 9.31 and a beta of 1.87. The company has a quick ratio of 4.14, a current ratio of 4.14 and a debt-to-equity ratio of 4.47. Chimera Investment has a 12-month low of $9.85 and a 12-month high of $15.48. The stock has a 50 day moving average price of $13.44 and a 200 day moving average price of $13.45.

Chimera Investment Dividend Announcement

The business also recently declared 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. This represents a $1.48 annualized dividend and a dividend yield of 12.6%. The ex-dividend date was Tuesday, September 30th. Chimera Investment’s payout ratio is currently 117.46%.

Wall Street Analysts Forecast Growth

CIM has been the subject of several recent research reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of Chimera Investment in a research report on Wednesday, October 8th. Wall Street Zen downgraded shares of Chimera Investment from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Keefe, Bruyette & Woods reduced their price objective on Chimera Investment from $16.50 to $15.00 and set a “market perform” rating for the company in a research report on Thursday, July 10th. Finally, UBS Group boosted their price objective on Chimera Investment from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Thursday, July 10th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Chimera Investment has a consensus rating of “Hold” and a consensus price target of $15.50.

Institutional Trading of Chimera Investment

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

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.