Chimera Investment Corporation $CIM Shares Sold by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in Chimera Investment Corporation by 5.4%, selling 104,045 shares to hold approximately 2.24% of the company, valued at $23.3 million.
• Chimera Investment reported earnings of $0.39 per share, missing estimates, with a revenue of $66.01 million compared to the expected $83.89 million.
• The company announced a quarterly dividend of $0.37 per share, yielding 10.9%, while maintaining a dividend payout ratio of 117.46%.

Charles Schwab Investment Management Inc. reduced its holdings in shares of Chimera Investment Corporation (NYSE:CIM - Free Report) by 5.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,816,975 shares of the real estate investment trust's stock after selling 104,045 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 2.24% of Chimera Investment worth $23,312,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Quarry LP increased its holdings in Chimera Investment by 1,691.7% during the 4th quarter. Quarry LP now owns 3,243 shares of the real estate investment trust's stock valued at $45,000 after acquiring an additional 3,062 shares in the last quarter. GAMMA Investing LLC increased its holdings in Chimera Investment by 8,728.6% during the 1st quarter. GAMMA Investing LLC now owns 3,708 shares of the real estate investment trust's stock valued at $48,000 after acquiring an additional 3,666 shares in the last quarter. Motiv8 Investments LLC purchased a new position in Chimera Investment during the 1st quarter valued at about $131,000. Sigma Planning Corp purchased a new position in Chimera Investment during the 1st quarter valued at about $131,000. Finally, PharVision Advisers LLC purchased a new position in Chimera Investment during the 4th quarter valued at about $178,000. 48.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CIM has been the topic of several analyst reports. Keefe, Bruyette & Woods decreased their price target 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. Wall Street Zen cut shares of Chimera Investment from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Finally, UBS Group raised their price target on shares of Chimera Investment from $15.00 to $16.00 and gave the stock a "buy" rating in a research note on Thursday, July 10th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $15.50.

Chimera Investment Trading Down 0.3%

CIM stock traded down $0.05 during midday trading on Wednesday, reaching $14.02. 449,149 shares of the company's stock traded hands, compared to its average volume of 527,912. The company has a market capitalization of $1.14 billion, a P/E ratio of 11.12 and a beta of 1.79. The company has a debt-to-equity ratio of 4.47, a current ratio of 4.14 and a quick ratio of 4.14. Chimera Investment Corporation has a fifty-two week low of $9.85 and a fifty-two week high of $16.89. The business has a 50-day moving average price of $13.85 and a two-hundred day moving average price of $13.31.

Chimera Investment (NYSE:CIM - Get Free Report) last announced its quarterly earnings results 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 business had revenue of $66.01 million for the quarter, compared to analyst estimates of $83.89 million. Chimera Investment had a net margin of 21.93% and a return on equity of 7.28%. Equities research analysts forecast that Chimera Investment Corporation will post 1.57 EPS for the current fiscal year.

Chimera Investment Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, June 30th were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 10.6%. The ex-dividend date of this dividend was Monday, June 30th. Chimera Investment's payout ratio is 117.46%.

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.