Almitas Capital LLC Makes New Investment in Chimera Investment Corporation $CIM

Key Points

• Almitas Capital LLC acquired a new position in Chimera Investment Corporation during the first quarter, purchasing 66,839 shares valued at approximately $858,000, which represents 0.08% ownership of the company.
• Chimera Investment reported earnings of $0.39 per share for the most recent quarter, which missed the consensus estimate of $0.46, with revenue falling short at $66.01 million compared to expected $83.89 million.
• The company declared a quarterly dividend of $0.37, resulting in an annualized dividend yield of 10.6%, though its dividend payout ratio currently stands at a high 117.46%.

Almitas Capital LLC purchased a new position in Chimera Investment Corporation (NYSE:CIM - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 66,839 shares of the real estate investment trust's stock, valued at approximately $858,000. Almitas Capital LLC owned 0.08% of Chimera Investment at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. LSV Asset Management grew its holdings in Chimera Investment by 306.2% in the first quarter. LSV Asset Management now owns 1,419,535 shares of the real estate investment trust's stock worth $18,213,000 after purchasing an additional 1,070,034 shares during the period. Allianz Asset Management GmbH grew its holdings in 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 purchasing an additional 111,458 shares during the period. Northern Trust Corp grew its holdings in Chimera Investment by 9.6% in the fourth quarter. Northern Trust Corp now owns 800,838 shares of the real estate investment trust's stock worth $11,212,000 after purchasing an additional 70,362 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Chimera Investment by 9.7% in 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 buying an additional 69,032 shares in the last quarter. Finally, Two Sigma Investments LP lifted its stake in shares of Chimera Investment by 17.8% in 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 buying an additional 77,835 shares in the last quarter. 48.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have weighed in on CIM shares. Keefe, Bruyette & Woods dropped their price objective on shares of Chimera Investment from $16.50 to $15.00 and set a "market perform" rating on the stock in a research note on Thursday, July 10th. UBS Group raised their price objective on shares of Chimera Investment from $15.00 to $16.00 and gave the company a "buy" rating in a research note on Thursday, July 10th. Finally, Wall Street Zen lowered shares of Chimera Investment from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $15.50.

Chimera Investment Stock Performance

Shares of CIM traded up $0.05 during trading hours on Monday, hitting $14.79. The company's stock had a trading volume of 177,960 shares, compared to its average volume of 564,058. The company has a market cap of $1.20 billion, a price-to-earnings ratio of 11.73 and a beta of 1.85. 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 business has a 50 day simple moving average of $13.91 and a two-hundred day simple moving average of $13.30. Chimera Investment Corporation has a 52-week low of $9.85 and a 52-week high of $16.89.

Chimera Investment (NYSE:CIM - Get Free Report) last posted its earnings results on Wednesday, August 6th. The real estate investment trust reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.07). The business 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 expect that Chimera Investment Corporation will post 1.57 earnings per share for the current fiscal year.

Chimera Investment Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 30th were paid a dividend of $0.37 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $1.48 annualized dividend and a yield of 10.0%. Chimera Investment's payout ratio is currently 117.46%.

Chimera Investment 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.