LSV Asset Management Acquires 1,070,034 Shares of Chimera Investment Corporation (NYSE:CIM)

Key Points

• LSV Asset Management significantly increased its holdings in Chimera Investment Corporation by 306.2%, now owning approximately 1.42 million shares valued at $18.21 million.
• Analysts have mixed opinions on Chimera Investment, with UBS Group raising its price target to $16.00 while Keefe, Bruyette & Woods has reduced its target to $15.00, leading to an average price target of $15.50.
• Chimera Investment announced a quarterly dividend of $0.37 per share, representing an annualized yield of 10.9%, with a payout ratio currently at 98.67%.

LSV Asset Management raised its holdings in Chimera Investment Corporation (NYSE:CIM - Free Report) by 306.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,419,535 shares of the real estate investment trust's stock after buying an additional 1,070,034 shares during the period. LSV Asset Management owned about 1.75% of Chimera Investment worth $18,213,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Quarry LP lifted its stake in shares of Chimera Investment by 1,691.7% in the fourth quarter. Quarry LP now owns 3,243 shares of the real estate investment trust's stock valued at $45,000 after buying an additional 3,062 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Chimera Investment by 8,728.6% in the first quarter. GAMMA Investing LLC now owns 3,708 shares of the real estate investment trust's stock valued at $48,000 after buying an additional 3,666 shares in the last quarter. Motiv8 Investments LLC bought a new position in shares of Chimera Investment in the first quarter valued at $131,000. Sigma Planning Corp bought a new position in shares of Chimera Investment in the first quarter valued at $131,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Chimera Investment in the fourth quarter valued at about $170,000. 48.44% of the stock is owned by institutional investors.

Chimera Investment Stock Performance

NYSE CIM traded up $0.14 during trading hours on Friday, reaching $13.45. 182,612 shares of the company were exchanged, compared to its average volume of 578,542. Chimera Investment Corporation has a 1 year low of $9.85 and a 1 year high of $16.89. The business's 50 day simple moving average is $13.82 and its 200-day simple moving average is $13.40. The company has a quick ratio of 3.70, a current ratio of 3.70 and a debt-to-equity ratio of 3.93. The stock has a market capitalization of $1.09 billion, a P/E ratio of 10.66 and a beta of 1.79.

Chimera Investment (NYSE:CIM - Get Free Report) last issued its 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 the consensus estimate of $83.89 million. Chimera Investment had a return on equity of 7.27% and a net margin of 21.93%. On average, equities research analysts expect that Chimera Investment Corporation will post 1.57 earnings per share for the current year.

Chimera Investment Dividend Announcement

The firm also recently announced 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 11.0%. The ex-dividend date was Monday, June 30th. Chimera Investment's dividend payout ratio (DPR) is currently 98.67%.

Analysts Set New Price Targets

CIM has been the subject of several analyst reports. Wall Street Zen upgraded shares of Chimera Investment from a "hold" rating to a "buy" rating in a report on Thursday, May 15th. UBS Group raised their price objective on shares of Chimera Investment from $15.00 to $16.00 and gave the stock a "buy" rating in a report on Thursday, July 10th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of Chimera Investment from $16.50 to $15.00 and set a "market perform" rating for the company in a report on Thursday, July 10th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, Chimera Investment currently has a consensus rating of "Moderate Buy" and a consensus target price of $15.50.

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.