Callodine Capital Management LP Has $5.13 Million Stock Position in Chimera Investment Corporation $CIM

Callodine Capital Management LP cut its holdings in shares of Chimera Investment Corporation (NYSE:CIM) by 11.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 400,000 shares of the real estate investment trust’s stock after selling 50,000 shares during the period. Callodine Capital Management LP’s holdings in Chimera Investment were worth $5,132,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quarry LP increased its position in shares of Chimera Investment by 1,691.7% during the fourth quarter. Quarry LP now owns 3,243 shares of the real estate investment trust’s stock worth $45,000 after acquiring an additional 3,062 shares in the last quarter. GAMMA Investing LLC grew its position in Chimera Investment by 8,728.6% in the 1st quarter. GAMMA Investing LLC now owns 3,708 shares of the real estate investment trust’s stock worth $48,000 after purchasing an additional 3,666 shares in the last quarter. Motiv8 Investments LLC bought a new stake in Chimera Investment in the 1st quarter worth about $131,000. Sigma Planning Corp bought a new stake in Chimera Investment in the 1st quarter worth about $131,000. Finally, PharVision Advisers LLC bought a new stake in Chimera Investment in the 4th quarter worth about $178,000. 48.44% of the stock is owned by institutional investors.

Chimera Investment Stock Performance

Shares of CIM stock opened at $14.06 on Wednesday. Chimera Investment Corporation has a 12 month low of $9.85 and a 12 month high of $16.89. The company has a current ratio of 4.14, a quick ratio of 4.14 and a debt-to-equity ratio of 4.47. The stock has a market capitalization of $1.14 billion, a P/E ratio of 11.15 and a beta of 1.79. The firm’s 50 day moving average is $13.84 and its 200 day moving average is $13.31.

Chimera Investment (NYSE:CIM) last posted its earnings results on Wednesday, August 6th. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.07). Chimera Investment had a return on equity of 7.28% and a net margin of 21.93%.The firm had revenue of $66.01 million during the quarter, compared to analysts’ expectations of $83.89 million. On average, sell-side analysts anticipate that Chimera Investment Corporation will post 1.57 earnings per share for the current year.

Chimera Investment Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, June 30th were paid a $0.37 dividend. The ex-dividend date was Monday, June 30th. This represents a $1.48 annualized dividend and a yield of 10.5%. Chimera Investment’s dividend payout ratio is currently 117.46%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CIM. 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 target price on shares of 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 increased their target price 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. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Chimera Investment has a consensus rating of “Hold” and a consensus target price of $15.50.

Chimera Investment 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.