Chimera Investment Co. Announces Quarterly Dividend of $0.37 (NYSE:CIM)

Chimera Investment Co. (NYSE:CIM - Get Free Report) announced a quarterly dividend on Wednesday, June 11th, RTT News reports. Investors of record on Monday, June 30th will be given a dividend of 0.37 per share by the real estate investment trust on Thursday, July 31st. This represents a $1.48 dividend on an annualized basis and a yield of 10.36%.

Chimera Investment has a payout ratio of 77.9% meaning its dividend is currently covered by earnings, but may not be in the future if the company's earnings fall.

Chimera Investment Stock Performance

Shares of NYSE:CIM traded up $0.40 during trading on Thursday, reaching $14.29. 453,295 shares of the stock were exchanged, compared to its average volume of 587,586. Chimera Investment has a 12 month low of $9.85 and a 12 month high of $16.89. The stock has a 50-day moving average price of $12.44 and a 200-day moving average price of $13.56. The company has a current ratio of 0.06, a quick ratio of 3.03 and a debt-to-equity ratio of 2.82. The firm has a market cap of $1.16 billion, a PE ratio of 13.23 and a beta of 1.75.

Chimera Investment (NYSE:CIM - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The real estate investment trust reported $0.41 EPS for the quarter, beating analysts' consensus estimates of $0.38 by $0.03. Chimera Investment had a return on equity of 7.00% and a net margin of 20.28%. The firm had revenue of $69.22 million for the quarter, compared to analyst estimates of $72.07 million. Research analysts expect that Chimera Investment will post 1.57 EPS for the current fiscal year.

Institutional Investors Weigh In On Chimera Investment

An institutional investor recently raised its position in Chimera Investment stock. Empowered Funds LLC raised its holdings in Chimera Investment Co. (NYSE:CIM - Free Report) by 12.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,322 shares of the real estate investment trust's stock after acquiring an additional 2,430 shares during the period. Empowered Funds LLC's holdings in Chimera Investment were worth $274,000 at the end of the most recent quarter. 48.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Royal Bank of Canada upgraded Chimera Investment to a "moderate buy" rating in a research note on Friday, March 14th. Wall Street Zen upgraded Chimera Investment from a "hold" rating to a "buy" rating in a research report on Thursday, May 15th. Finally, UBS Group raised shares of Chimera Investment from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $11.50 to $15.00 in a research report on Wednesday, May 14th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, Chimera Investment has an average rating of "Moderate Buy" and a consensus price target of $15.50.

About Chimera Investment

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.