Chimera Investment Corporation $CIM Stock Position Lowered by Leeward Investments LLC MA

Key Points

• Leeward Investments reduced its Chimera Investment stake by 13% in the third quarter, selling 139,997 shares and retaining 935,856 shares valued at approximately $8.9 million. Institutional investors collectively own 48.44% of CIM.
• Chimera shares opened at $8.43, near the bottom of their 12-month range of $8.11 to $14.18. The company reported quarterly EPS of $0.46, below the $0.54 analyst consensus.
• The REIT declared a quarterly dividend of $0.45 per share, equivalent to $1.80 annually and a 21.3% yield. Analysts have an overall “Hold” rating, with an average price target of $14.50.

Leeward Investments LLC MA cut its holdings in Chimera Investment Corporation (NYSE:CIM - Free Report) by 13.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 935,856 shares of the real estate investment trust's stock after selling 139,997 shares during the period. Leeward Investments LLC MA owned 1.12% of Chimera Investment worth $8,919,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of CIM. BlackRock Inc. grew its stake in Chimera Investment by 9.5% in the 2nd quarter. BlackRock Inc. now owns 7,855,125 shares of the real estate investment trust's stock valued at $104,787,000 after buying an additional 681,996 shares in the last quarter. Thornburg Investment Management Inc. lifted its position in shares of Chimera Investment by 0.7% during the second quarter. Thornburg Investment Management Inc. now owns 5,511,923 shares of the real estate investment trust's stock worth $73,529,000 after acquiring an additional 35,621 shares in the last quarter. Allianz Asset Management GmbH lifted its position in shares of Chimera Investment by 6.9% during the second quarter. Allianz Asset Management GmbH now owns 2,274,507 shares of the real estate investment trust's stock worth $30,342,000 after acquiring an additional 147,119 shares in the last quarter. State Street Corp lifted its position in shares of Chimera Investment by 7.8% during the second quarter. State Street Corp now owns 2,029,275 shares of the real estate investment trust's stock worth $27,957,000 after acquiring an additional 147,629 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in shares of Chimera Investment by 82.0% during the first quarter. First Trust Advisors LP now owns 543,101 shares of the real estate investment trust's stock worth $6,816,000 after acquiring an additional 244,763 shares in the last quarter. 48.44% of the stock is owned by institutional investors.

Chimera Investment Trading Up 0.2%

Shares of Chimera Investment stock opened at $8.43 on Monday. Chimera Investment Corporation has a 12-month low of $8.11 and a 12-month high of $14.18. The company has a market cap of $705.93 million, a price-to-earnings ratio of -8.27 and a beta of 1.72. 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 company's 50-day moving average price is $10.36 and its 200-day moving average price is $12.14.

Chimera Investment (NYSE:CIM - Get Free Report) last released its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $95.30 million. Chimera Investment had a net margin of 0.14% and a return on equity of 9.82%.

Chimera Investment Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, September 30th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 21.3%. The ex-dividend date of this dividend is Wednesday, September 30th. Chimera Investment's dividend payout ratio is -176.47%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on CIM shares. Keefe, Bruyette & Woods cut their price target on Chimera Investment from $15.00 to $14.00 and set a "market perform" rating for the company in a report on Thursday, August 6th. Weiss Ratings lowered Chimera Investment from a "sell (d+)" rating to a "sell (d)" rating in a research note on Friday, September 18th. Finally, Wall Street Zen upgraded Chimera Investment from a "sell" rating to a "hold" rating in a research note on Sunday, June 28th. 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 company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $14.50.

About Chimera Investment

Chimera Investment Corporation NYSE: CIM is a real estate investment trust that invests primarily in residential mortgage assets and other real estate-related investments. The company seeks to generate income from a portfolio that may include residential mortgage loans, agency and non-agency residential mortgage-backed securities, and other mortgage-related assets.

Chimera's investments can include whole residential mortgage loans and securitized interests backed by mortgages. Its portfolio has historically included both agency assets, which carry guarantees from government-sponsored entities or government agencies, and non-agency assets, which generally involve greater credit exposure.

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