Fox Run Management L.L.C. Sells 21,794 Shares of Chimera Investment Corporation $CIM

Key Points

• Fox Run Management L.L.C. reduced its stake in Chimera Investment Corporation by 50.5% during the 1st quarter, holding 21,327 shares valued at $274,000 at the end of the reporting period.
• Chimera Investment reported an earnings per share (EPS) of $0.39 for the latest quarter, falling short of analysts' expectations by ($0.07), along with a revenue of $66.01 million against a forecast of $83.89 million.
• The company announced a quarterly dividend of $0.37 per share, representing an annual yield of 10.7%, with a dividend payout ratio of 117.46%.

Fox Run Management L.L.C. lessened its position in Chimera Investment Corporation (NYSE:CIM - Free Report) by 50.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,327 shares of the real estate investment trust's stock after selling 21,794 shares during the period. Fox Run Management L.L.C.'s holdings in Chimera Investment were worth $274,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Wells Fargo & Company MN increased its holdings in shares of Chimera Investment by 7.6% during the 4th quarter. Wells Fargo & Company MN now owns 117,258 shares of the real estate investment trust's stock worth $1,642,000 after acquiring an additional 8,282 shares during the last quarter. Invesco Ltd. boosted its position in Chimera Investment by 7.1% during the fourth quarter. Invesco Ltd. now owns 115,228 shares of the real estate investment trust's stock worth $1,613,000 after purchasing an additional 7,604 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Chimera Investment in the fourth quarter valued at $649,000. Barclays PLC increased its holdings in shares of Chimera Investment by 12.4% in the fourth quarter. Barclays PLC now owns 206,059 shares of the real estate investment trust's stock valued at $2,885,000 after purchasing an additional 22,764 shares during the last quarter. Finally, Mariner LLC raised its position in shares of Chimera Investment by 50.6% in the fourth quarter. Mariner LLC now owns 130,729 shares of the real estate investment trust's stock valued at $1,830,000 after purchasing an additional 43,935 shares during the period. 48.44% of the stock is owned by institutional investors and hedge funds.

Chimera Investment Trading Down 1.2%

NYSE:CIM traded down $0.1650 during mid-day trading on Monday, hitting $13.9750. 338,901 shares of the company's stock were exchanged, compared to its average volume of 523,422. The company has a current ratio of 4.14, a quick ratio of 4.14 and a debt-to-equity ratio of 4.47. Chimera Investment Corporation has a fifty-two week low of $9.85 and a fifty-two week high of $16.89. The firm has a market capitalization of $1.13 billion, a P/E ratio of 11.09 and a beta of 1.79. The company has a 50 day simple moving average of $13.83 and a 200-day simple moving average of $13.30.

Chimera Investment (NYSE:CIM - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The real estate investment trust reported $0.39 EPS for the quarter, missing analysts' consensus estimates of $0.46 by ($0.07). Chimera Investment had a net margin of 21.93% and a return on equity of 7.28%. The firm had revenue of $66.01 million for the quarter, compared to the consensus estimate of $83.89 million. As a group, research analysts expect that Chimera Investment Corporation will post 1.57 earnings per share for the current year.

Chimera Investment Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages recently commented on CIM. Wall Street Zen lowered shares of Chimera Investment from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. UBS Group boosted their price objective on 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 lowered their target price on 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. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Chimera Investment has a consensus rating of "Hold" and a consensus target price of $15.50.

Chimera Investment 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.