Advisors Asset Management Inc. Trims Stock Position in Chimera Investment Corporation $CIM

Key Points

• Advisors Asset Management Inc. reduced its stake in Chimera Investment Corporation by 39.2% during the 1st quarter, now owning approximately 0.32% of the company valued at $3.3 million.
• Several institutional investors have made significant changes to their holdings in Chimera, with LSV Asset Management increasing its stake by 306.2%.
• Chimera's recent quarterly earnings showed an EPS of $0.39, missing expectations, and the company announced a quarterly dividend yielding 10.1% annually.

Advisors Asset Management Inc. cut its holdings in Chimera Investment Corporation (NYSE:CIM - Free Report) by 39.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 255,384 shares of the real estate investment trust's stock after selling 164,973 shares during the period. Advisors Asset Management Inc. owned about 0.32% of Chimera Investment worth $3,277,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of CIM. LSV Asset Management grew its holdings in Chimera Investment by 306.2% during the first quarter. LSV Asset Management now owns 1,419,535 shares of the real estate investment trust's stock valued at $18,213,000 after purchasing an additional 1,070,034 shares during the period. Allianz Asset Management GmbH raised its position in shares of Chimera Investment by 9.7% in the first quarter. Allianz Asset Management GmbH now owns 1,259,409 shares of the real estate investment trust's stock worth $16,158,000 after buying an additional 111,458 shares in the last quarter. Northern Trust Corp raised its position in Chimera Investment by 9.6% during the fourth quarter. Northern Trust Corp now owns 800,838 shares of the real estate investment trust's stock valued at $11,212,000 after purchasing an additional 70,362 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Chimera Investment by 9.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 777,228 shares of the real estate investment trust's stock valued at $10,881,000 after purchasing an additional 69,032 shares in the last quarter. Finally, Two Sigma Investments LP raised its position in Chimera Investment by 17.8% during the fourth quarter. Two Sigma Investments LP now owns 514,470 shares of the real estate investment trust's stock valued at $7,203,000 after purchasing an additional 77,835 shares in the last quarter. 48.44% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Wall Street Zen cut Chimera Investment from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. UBS Group boosted their price target on Chimera Investment from $15.00 to $16.00 and gave the stock a "buy" rating in a research report on Thursday, July 10th. Finally, Keefe, Bruyette & Woods dropped their price target on Chimera Investment from $16.50 to $15.00 and set a "market perform" rating on the stock in a research report on Thursday, July 10th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Chimera Investment has a consensus rating of "Hold" and an average price target of $15.50.

Chimera Investment Price Performance

Shares of NYSE CIM traded down $0.05 during mid-day trading on Wednesday, hitting $14.46. 492,535 shares of the company's stock traded hands, compared to its average volume of 567,070. The company's 50-day moving average is $13.93 and its two-hundred day moving average is $13.32. The company has a debt-to-equity ratio of 4.47, a current ratio of 4.14 and a quick ratio of 4.14. The company has a market capitalization of $1.17 billion, a P/E ratio of 11.48 and a beta of 1.85. Chimera Investment Corporation has a 1 year low of $9.85 and a 1 year high of $16.89.

Chimera Investment (NYSE:CIM - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The real estate investment trust reported $0.39 earnings per share for the quarter, missing analysts' consensus estimates of $0.46 by ($0.07). The firm had revenue of $66.01 million during the quarter, compared to analysts' expectations of $83.89 million. Chimera Investment had a return on equity of 7.28% and a net margin of 21.93%. On average, equities analysts anticipate that Chimera Investment Corporation will post 1.57 EPS for the current fiscal year.

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.