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

Chimera Investment Co. (NYSE:CIM - Get Free Report) announced a quarterly dividend on Wednesday, June 11th, RTT News reports. Shareholders of record on Monday, June 30th will be paid 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 10.57%. The ex-dividend date is Monday, June 30th.

Chimera Investment has a dividend 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 Trading Down 2.2%

NYSE:CIM traded down $0.31 during mid-day trading on Friday, reaching $14.01. The company's stock had a trading volume of 583,644 shares, compared to its average volume of 584,701. The company's fifty day simple moving average is $12.58 and its two-hundred day simple moving average is $13.54. The company has a debt-to-equity ratio of 2.82, a current ratio of 0.06 and a quick ratio of 3.03. Chimera Investment has a twelve month low of $9.85 and a twelve month high of $16.89. The stock has a market cap of $1.13 billion, a P/E ratio of 12.97 and a beta of 1.75.

Chimera Investment (NYSE:CIM - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, topping 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. On average, equities analysts predict that Chimera Investment will post 1.57 EPS for the current year.

Hedge Funds Weigh In On Chimera Investment

An institutional investor recently raised its position in Chimera Investment stock. Empowered Funds LLC lifted its stake in shares of Chimera Investment Co. (NYSE:CIM - Free Report) by 12.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 21,322 shares of the real estate investment trust's stock after buying an additional 2,430 shares during the quarter. Empowered Funds LLC's holdings in Chimera Investment were worth $274,000 as of its most recent filing with the SEC. 48.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Chimera Investment Company 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.