Chimera Investment Corporation (NYSE:CIM) Declares $0.45 Quarterly Dividend

Key Points

• Chimera Investment declared a quarterly dividend of $0.45 per share, payable October 30 to shareholders of record on September 30. The payment represents a 16.3% annualized yield, with a 94.7% payout ratio.
• The REIT’s latest quarterly earnings missed expectations: adjusted earnings were $0.46 per share versus the $0.54 analyst consensus, while revenue of $94.77 million was slightly below estimates.
• Institutional ownership remains significant at 48.44%, with major investors including BlackRock and Allianz Asset Management increasing their stakes during the second quarter.

Chimera Investment Corporation (NYSE:CIM - Get Free Report) declared a quarterly dividend on Thursday, September 17th. Stockholders of record on Wednesday, September 30th will be paid a dividend of 0.45 per share by the real estate investment trust on Friday, October 30th. This represents a c) annualized dividend and a dividend yield of 16.3%. The ex-dividend date of this dividend is Wednesday, September 30th.

Chimera Investment has decreased its dividend payment by an average of 0.2%annually over the last three years and has raised its dividend every year for the last 1 years. Chimera Investment has a payout ratio of 94.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company's earnings fall.

Chimera Investment Stock Up 1.2%

Shares of CIM stock opened at $11.02 on Friday. The firm has a market capitalization of $922.84 million, a P/E ratio of -10.81 and a beta of 1.66. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 2.34. Chimera Investment has a 1 year low of $10.84 and a 1 year high of $14.22. The firm's fifty day moving average price is $11.98 and its two-hundred day moving average price is $12.83.

Chimera Investment (NYSE:CIM - Get Free Report) last posted its earnings results on Wednesday, August 5th. The real estate investment trust reported $0.46 earnings per share for the quarter, missing analysts' consensus estimates of $0.54 by ($0.08). Chimera Investment had a return on equity of 9.82% and a net margin of 0.14%.The business had revenue of $94.77 million for the quarter, compared to analyst estimates of $95.30 million.

Hedge Funds Weigh In On Chimera Investment

Several institutional investors and hedge funds have recently added to or reduced their stakes in CIM. Allianz Asset Management GmbH lifted its stake in shares of Chimera Investment by 6.9% in the 2nd quarter. Allianz Asset Management GmbH now owns 2,274,507 shares of the real estate investment trust's stock valued at $30,342,000 after purchasing an additional 147,119 shares during the period. BlackRock Inc. grew its stake in Chimera Investment by 9.5% during the second quarter. BlackRock Inc. now owns 7,855,125 shares of the real estate investment trust's stock worth $104,787,000 after purchasing an additional 681,996 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Chimera Investment by 20,243.7% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 145,661 shares of the real estate investment trust's stock worth $1,943,000 after purchasing an additional 144,945 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in Chimera Investment in the first quarter worth approximately $1,736,000. Finally, First Trust Advisors LP lifted its stake in Chimera Investment by 82.0% in the first quarter. First Trust Advisors LP now owns 543,101 shares of the real estate investment trust's stock valued at $6,816,000 after buying an additional 244,763 shares during the period. 48.44% of the stock is currently owned by institutional investors and hedge funds.

Chimera Investment Company Profile

Chimera Investment Corporation is a real estate investment trust that invests in residential mortgage assets. The company's portfolio has historically included residential mortgage-backed securities, residential mortgage loans and other mortgage-related investments, including both agency and non-agency assets.

Chimera seeks to generate income from the interest and cash flows associated with its investments. Its activities are primarily focused on the U.S. residential housing and mortgage markets, and the company may invest in assets with different levels of credit and prepayment risk.

Founded in 2007, Chimera is externally managed and has operated as a mortgage-focused REIT.

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