Chimera Investment Corporation $CIM Shares Acquired by BlackRock Inc.

Key Points

• BlackRock increased its Chimera Investment stake by 9.5% in the second quarter, bringing its holdings to 7.86 million shares valued at approximately $104.8 million, or 9.39% of the REIT. Institutional investors and hedge funds collectively own 48.44% of the stock.
• Analysts maintain a cautious outlook, with a consensus “Hold” rating and a $14.50 target price. Chimera’s shares recently opened at $11.52, near their 12-month low of $11.43.
• Chimera reported quarterly EPS of $0.46, below the $0.54 analyst consensus, while revenue of $94.77 million also slightly missed estimates. The company paid a $0.45 quarterly dividend, equivalent to a 15.6% annualized yield.

BlackRock Inc. increased its stake in shares of Chimera Investment Corporation (NYSE:CIM - Free Report) by 9.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,855,125 shares of the real estate investment trust's stock after buying an additional 681,996 shares during the quarter. BlackRock Inc. owned about 9.39% of Chimera Investment worth $104,787,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in Chimera Investment by 2.8% in the 4th quarter. Vanguard Group Inc. now owns 7,651,505 shares of the real estate investment trust's stock worth $95,108,000 after acquiring an additional 208,112 shares during the last quarter. Thornburg Investment Management Inc. raised its stake in shares of Chimera Investment by 5.0% in the fourth quarter. Thornburg Investment Management Inc. now owns 5,268,481 shares of the real estate investment trust's stock worth $65,487,000 after purchasing an additional 249,127 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Chimera Investment by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 1,975,021 shares of the real estate investment trust's stock worth $24,554,000 after purchasing an additional 43,419 shares during the last quarter. Balyasny Asset Management L.P. lifted its holdings in shares of Chimera Investment by 2.3% during the second quarter. Balyasny Asset Management L.P. now owns 1,547,432 shares of the real estate investment trust's stock worth $21,463,000 after purchasing an additional 35,425 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Chimera Investment by 7.2% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 982,889 shares of the real estate investment trust's stock worth $12,994,000 after purchasing an additional 66,031 shares during the period. 48.44% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CIM has been the topic of several research reports. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $14.00 price target on shares of Chimera Investment in a report on Wednesday, June 3rd. Weiss Ratings upgraded shares of Chimera Investment from a "sell (d)" rating to a "sell (d+)" rating in a research note on Monday, August 17th. Wall Street Zen raised shares of Chimera Investment from a "sell" rating to a "hold" rating in a report on Sunday, June 28th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Chimera Investment from $15.00 to $14.00 and set a "market perform" rating on the stock in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Chimera Investment presently has a consensus rating of "Hold" and a consensus target price of $14.50.

Chimera Investment Price Performance

NYSE:CIM opened at $11.52 on Friday. Chimera Investment Corporation has a 12 month low of $11.43 and a 12 month high of $14.88. The stock has a 50 day moving average of $12.53 and a two-hundred day moving average of $13.03. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 2.34. The firm has a market cap of $964.34 million, a P/E ratio of -11.29 and a beta of 1.67.

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

Chimera Investment Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th were issued a $0.45 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $1.80 dividend on an annualized basis and a yield of 15.6%. Chimera Investment's dividend payout ratio (DPR) is presently -176.47%.

Chimera Investment 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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