Chimera Investment Corporation (NYSE:CIM) announced its earnings results on Thursday. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.05, Bloomberg Earnings reports. The business had revenue of $156.46 million for the quarter, compared to analysts’ expectations of $150.29 million. Chimera Investment Corporation had a return on equity of 13.53% and a net margin of 58.21%. The business’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter last year, the firm earned $0.68 EPS.
Chimera Investment Corporation (CIM) opened at $18.12 on Friday. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 2.73. The firm has a market cap of $3.45 billion, a price-to-earnings ratio of 7.71 and a beta of 0.86.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 30th. Investors of record on Friday, December 29th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $2.00 dividend on an annualized basis and a yield of 11.04%. Chimera Investment Corporation’s dividend payout ratio (DPR) is currently 61.35%.
An institutional investor recently raised its position in Chimera Investment Corporation stock. The Manufacturers Life Insurance Company grew its stake in shares of Chimera Investment Corporation (NYSE:CIM) by 5.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,580 shares of the real estate investment trust’s stock after buying an additional 341 shares during the quarter. The Manufacturers Life Insurance Company ‘s holdings in Chimera Investment Corporation were worth $123,000 as of its most recent filing with the Securities and Exchange Commission. 51.18% of the stock is owned by hedge funds and other institutional investors.
CIM has been the subject of a number of recent analyst reports. BidaskClub cut Chimera Investment Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. ValuEngine upgraded Chimera Investment Corporation from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Zacks Investment Research cut Chimera Investment Corporation from a “hold” rating to a “sell” rating in a report on Friday, August 4th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $18.50 price target on shares of Chimera Investment Corporation in a research report on Friday, October 6th. Finally, Deutsche Bank AG lifted their price target on shares of Chimera Investment Corporation from $19.00 to $20.00 and gave the company a “hold” rating in a research report on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and an average target price of $18.83.
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About Chimera Investment Corporation
Chimera Investment Corporation is a real estate investment trust (REIT). The company is engaged in the business of investing in a portfolio of mortgage assets, including agency residential mortgage-backed security (RMBS), non-agency RMBS, agency commercial mortgage-backed securities (CMBS), residential mortgage loans and real estate related securities.
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