Arrowstreet Capital Limited Partnership Takes $1.74 Million Position in Chimera Investment Corporation $CIM

Key Points

• Arrowstreet Capital initiated a $1.74 million position in Chimera Investment, purchasing 138,299 shares, while institutional investors collectively own 48.44% of the REIT.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and a $14.75 average price target; individual ratings range from Buy to Sell.
• Chimera shares recently traded at $11.85 after falling 6.4%. The company missed quarterly earnings estimates, reporting $0.46 EPS versus $0.54 expected, but maintained a $0.45 quarterly dividend, representing a 15.2% annualized yield.

Arrowstreet Capital Limited Partnership bought a new stake in shares of Chimera Investment Corporation (NYSE:CIM - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 138,299 shares of the real estate investment trust's stock, valued at approximately $1,736,000. Arrowstreet Capital Limited Partnership owned about 0.17% of Chimera Investment as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Tudor Investment Corp ET AL grew its position in shares of Chimera Investment by 34.9% during the 3rd quarter. Tudor Investment Corp ET AL now owns 320,209 shares of the real estate investment trust's stock valued at $4,233,000 after acquiring an additional 82,883 shares during the period. Ritholtz Wealth Management bought a new stake in shares of Chimera Investment in the 4th quarter worth approximately $4,977,000. UBS Group AG lifted its stake in Chimera Investment by 130.7% in the fourth quarter. UBS Group AG now owns 763,691 shares of the real estate investment trust's stock valued at $9,493,000 after purchasing an additional 432,727 shares during the last quarter. Wolverine Asset Management LLC lifted its stake in Chimera Investment by 35.3% in the fourth quarter. Wolverine Asset Management LLC now owns 713,039 shares of the real estate investment trust's stock valued at $8,863,000 after purchasing an additional 186,114 shares during the last quarter. Finally, Mariner Investment Group LLC grew its holdings in Chimera Investment by 152.2% during the fourth quarter. Mariner Investment Group LLC now owns 290,000 shares of the real estate investment trust's stock valued at $3,605,000 after purchasing an additional 175,000 shares during the period. Institutional investors own 48.44% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CIM. Royal Bank Of Canada reiterated a "sector perform" rating and set a $14.00 price target on shares of Chimera Investment in a research note on Wednesday, June 3rd. Wall Street Zen raised shares of Chimera Investment from a "sell" rating to a "hold" rating in a report on Sunday, June 28th. Finally, Weiss Ratings cut shares of Chimera Investment from a "sell (d+)" rating to a "sell (d)" rating in a report on Monday. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Chimera Investment has a consensus rating of "Hold" and a consensus target price of $14.75.

Chimera Investment Trading Down 6.4%

Chimera Investment stock opened at $11.85 on Thursday. The stock has a market cap of $991.17 million, a P/E ratio of -14.81 and a beta of 1.67. Chimera Investment Corporation has a fifty-two week low of $11.46 and a fifty-two week high of $14.88. The firm's fifty day moving average price is $13.08 and its 200-day moving average price is $13.16. The company has a debt-to-equity ratio of 2.31, a quick ratio of 0.08 and a current ratio of 0.08.

Chimera Investment (NYSE:CIM - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The real estate investment trust reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.08). Chimera Investment had a net margin of 2.27% and a return on equity of 9.36%. The business had revenue of $94.77 million for the quarter, compared to the consensus estimate of $95.30 million.

Chimera Investment Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $1.80 annualized dividend and a dividend yield of 15.2%. Chimera Investment's payout ratio is presently -225.00%.

Chimera Investment Company Profile

Chimera Investment Corporation NYSE: CIM is a publicly traded real estate investment trust that specializes in investing in residential mortgage assets. The company's portfolio primarily consists of agency and non-agency residential mortgage-backed securities, whole loan residential mortgages and other mortgage-related assets. As a REIT, Chimera Investment aims to generate attractive risk-adjusted returns through its focus on high-quality collateral and disciplined risk management.

The firm's core business activities include identifying and acquiring portfolios of residential mortgage loans and securities from financial institutions and in the secondary market.

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