Vanguard Group Inc. Reduces Stake in Chimera Investment Corporation $CIM

Key Points

• Vanguard Group Inc. reduced its stake in Chimera Investment Corporation by 0.6%, now holding approximately 9.60% of the company's shares valued at $99.7 million.
• Several institutional investors, such as LSV Asset Management and Universal Beteiligungs, significantly increased their holdings in Chimera Investment, with increases of 306.2% and 671.6% respectively in the first quarter.
• Chimera Investment reported $0.39 earnings per share for the last quarter, missing analysts' estimates by $0.07, and currently has a dividend yield of 10.5%.

Vanguard Group Inc. lessened its holdings in shares of Chimera Investment Corporation (NYSE:CIM - Free Report) by 0.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,773,540 shares of the real estate investment trust's stock after selling 49,617 shares during the period. Vanguard Group Inc. owned 9.60% of Chimera Investment worth $99,735,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. LSV Asset Management lifted its holdings in shares of 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 worth $18,213,000 after purchasing an additional 1,070,034 shares during the period. Allianz Asset Management GmbH raised its stake in Chimera Investment by 9.7% during 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 during the last quarter. Northern Trust Corp raised its stake 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 worth $11,212,000 after buying an additional 70,362 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake 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 worth $10,881,000 after buying an additional 69,032 shares during the last quarter. Finally, Two Sigma Investments LP raised its stake 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 worth $7,203,000 after buying an additional 77,835 shares during the last quarter. Institutional investors and hedge funds own 48.44% of the company's stock.

Chimera Investment Stock Down 0.3%

Chimera Investment stock traded down $0.04 during midday trading on Thursday, hitting $13.99. 382,558 shares of the stock were exchanged, compared to its average volume of 524,038. Chimera Investment Corporation has a 52-week low of $9.85 and a 52-week high of $16.89. The stock has a market capitalization of $1.13 billion, a price-to-earnings ratio of 11.10 and a beta of 1.79. The business's 50-day moving average price is $13.85 and its 200-day moving average price is $13.30. The company has a quick ratio of 4.14, a current ratio of 4.14 and a debt-to-equity ratio of 4.47.

Chimera Investment (NYSE:CIM - Get Free Report) last released its quarterly 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). Chimera Investment had a return on equity of 7.28% and a net margin of 21.93%.The firm had revenue of $66.01 million for the quarter, compared to analysts' expectations of $83.89 million. On average, research analysts expect that Chimera Investment Corporation will post 1.57 EPS for the current fiscal year.

Chimera Investment Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Keefe, Bruyette & Woods lowered their target price on shares of Chimera Investment from $16.50 to $15.00 and set a "market perform" rating for the company in a research note on Thursday, July 10th. UBS Group lifted their price target 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 cut shares of Chimera Investment from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $15.50.

About Chimera Investment

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.