Ameriprise Financial Inc. lowered its position in Chimera Investment Corp. (NYSE:CIM) by 36.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 101,375 shares of the company’s stock after selling 58,003 shares during the period. Ameriprise Financial Inc. owned approximately 0.05% of Chimera Investment Corp. worth $1,594,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently added to or reduced their stakes in CIM. Nisa Investment Advisors LLC purchased a new stake in Chimera Investment Corp. during the second quarter worth approximately $159,000. Prudential PLC purchased a new stake in Chimera Investment Corp. during the first quarter worth approximately $160,000. Fox Run Management L.L.C. purchased a new stake in Chimera Investment Corp. during the second quarter worth approximately $195,000. OMERS ADMINISTRATION Corp purchased a new stake in Chimera Investment Corp. during the first quarter worth approximately $255,000. Finally, Raymond James Trust N.A. increased its stake in Chimera Investment Corp. by 2.6% in the second quarter. Raymond James Trust N.A. now owns 18,011 shares of the company’s stock worth $283,000 after buying an additional 453 shares during the last quarter. Institutional investors and hedge funds own 53.65% of the company’s stock.
Chimera Investment Corp. (NYSE:CIM) traded up 0.06% during trading on Friday, reaching $15.51. 979,024 shares of the company’s stock were exchanged. The company has a market capitalization of $2.91 billion, a PE ratio of 13.19 and a beta of 0.83. The company’s 50-day moving average is $15.69 and its 200-day moving average is $15.58. Chimera Investment Corp. has a 1-year low of $10.89 and a 1-year high of $16.98.
Chimera Investment Corp. (NYSE:CIM) last released its earnings results on Wednesday, August 3rd. The company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by $0.02. Chimera Investment Corp. had a return on equity of 13.50% and a net margin of 26.83%. The company earned $137.87 million during the quarter, compared to analysts’ expectations of $134.42 million. During the same quarter in the previous year, the company earned $0.57 EPS. The firm’s quarterly revenue was down 7.9% compared to the same quarter last year. Equities research analysts expect that Chimera Investment Corp. will post $2.23 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, October 27th. Shareholders of record on Friday, September 30th were given a $0.48 dividend. The ex-dividend date of this dividend was Wednesday, September 28th. This represents a $1.92 dividend on an annualized basis and a yield of 12.38%. Chimera Investment Corp.’s payout ratio is 160.00%.
A number of research firms have recently commented on CIM. Barclays PLC upped their price objective on Chimera Investment Corp. from $14.00 to $15.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 10th. Zacks Investment Research upgraded Chimera Investment Corp. from a “hold” rating to a “strong-buy” rating and set a $18.00 price objective for the company in a report on Thursday, July 14th. Credit Suisse Group AG restated a “hold” rating and set a $15.50 price objective on shares of Chimera Investment Corp. in a report on Friday, September 9th. Keefe, Bruyette & Woods upped their price objective on Chimera Investment Corp. from $14.00 to $15.50 and gave the stock a “market perform” rating in a report on Tuesday, August 9th. Finally, Nomura reaffirmed a “buy” rating and set a $17.00 price target on shares of Chimera Investment Corp. in a research report on Tuesday, July 5th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. Chimera Investment Corp. has an average rating of “Hold” and an average price target of $16.58.
In related news, COO Choudhary Yarlagadda bought 2,305 shares of the business’s stock in a transaction on Friday, September 9th. The stock was bought at an average price of $16.10 per share, for a total transaction of $37,110.50. Following the transaction, the chief operating officer now directly owns 104,391 shares in the company, valued at $1,680,695.10. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.62% of the stock is currently owned by company insiders.
About Chimera Investment Corp.
Chimera Investment Corporation is a real estate investment trust. The Company is primarily engaged in the business of investing, on a leveraged basis, in a diversified portfolio of mortgage assets, including Agency residential mortgage-backed securities (RMBS), Non-Agency RMBS, Agency commercial mortgage backed securities (CMBS), residential mortgage loans and real estate related securities.