Chimera Investment Co. (NYSE:CIM) Announces Quarterly Dividend of $0.23

Chimera Investment Co. (NYSE:CIMGet Rating) announced a quarterly dividend on Wednesday, September 21st, RTT News reports. Stockholders of record on Friday, September 30th will be given a dividend of 0.23 per share by the real estate investment trust on Monday, October 31st. This represents a $0.92 dividend on an annualized basis and a dividend yield of 12.17%. The ex-dividend date of this dividend is Thursday, September 29th.

Chimera Investment has decreased its dividend by an average of 13.6% annually over the last three years and has raised its dividend annually for the last 1 consecutive years. Chimera Investment has a payout ratio of 103.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Chimera Investment to earn $1.37 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 96.4%.

Chimera Investment Stock Down 1.2 %

CIM opened at $7.56 on Thursday. The company has a debt-to-equity ratio of 3.67, a quick ratio of 4.60 and a current ratio of 4.60. Chimera Investment has a 1 year low of $7.56 and a 1 year high of $16.85. The stock’s 50 day simple moving average is $8.97 and its 200-day simple moving average is $9.85.

Chimera Investment (NYSE:CIMGet Rating) last announced its quarterly earnings results on Thursday, August 4th. The real estate investment trust reported $0.31 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.06). The company had revenue of $116.89 million during the quarter, compared to analyst estimates of $131.19 million. Chimera Investment had a negative net margin of 8.93% and a positive return on equity of 13.07%. Chimera Investment’s quarterly revenue was down 32.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.54 EPS. On average, analysts expect that Chimera Investment will post 1.32 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Chimera Investment

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Worth Asset Management LLC acquired a new position in shares of Chimera Investment during the first quarter valued at $30,000. Captrust Financial Advisors acquired a new position in shares of Chimera Investment during the second quarter valued at $83,000. American Century Companies Inc. acquired a new position in shares of Chimera Investment during the first quarter valued at $132,000. Prelude Capital Management LLC acquired a new position in shares of Chimera Investment during the first quarter valued at $135,000. Finally, IHT Wealth Management LLC acquired a new position in shares of Chimera Investment during the first quarter valued at $156,000. Institutional investors and hedge funds own 51.10% of the company’s stock.

Analysts Set New Price Targets

CIM has been the topic of several recent analyst reports. Barclays decreased their price target on Chimera Investment from $11.00 to $9.00 and set an “underweight” rating on the stock in a research note on Monday, July 18th. Credit Suisse Group reduced their price objective on Chimera Investment to $9.50 in a research note on Friday, July 22nd.

About Chimera Investment

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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 and non-agency residential mortgage-backed securities, agency mortgage-backed securities secured by pools of residential, commercial mortgage loans, and other real estate related securities.

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Dividend History for Chimera Investment (NYSE:CIM)

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