Chimera Investment Corporation $CIM Shares Sold by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. reduced its stake in Chimera Investment Corporation by 27.9% in the first quarter, now holding 254,378 shares worth approximately $3.26 million.
• Chimera Investment reported an earnings miss of $0.39 EPS compared to analysts' estimates of $0.46, alongside a revenue of $66.01 million which fell short of the expected $83.89 million.
• The company announced a quarterly dividend of $0.37 per share, yielding about 10.5%, with a dividend payout ratio of 117.46%.

Goldman Sachs Group Inc. lessened its stake in shares of Chimera Investment Corporation (NYSE:CIM - Free Report) by 27.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 254,378 shares of the real estate investment trust's stock after selling 98,344 shares during the quarter. Goldman Sachs Group Inc. owned about 0.31% of Chimera Investment worth $3,264,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Voya Investment Management LLC raised its stake in Chimera Investment by 9.7% during the 1st quarter. Voya Investment Management LLC now owns 36,786 shares of the real estate investment trust's stock valued at $472,000 after acquiring an additional 3,250 shares during the last quarter. Strs Ohio purchased a new stake in shares of Chimera Investment in the first quarter valued at approximately $194,000. Empowered Funds LLC boosted its stake in shares of Chimera Investment by 12.9% in the first quarter. Empowered Funds LLC now owns 21,322 shares of the real estate investment trust's stock valued at $274,000 after buying an additional 2,430 shares in the last quarter. Great Lakes Advisors LLC grew its holdings in Chimera Investment by 50.5% during the first quarter. Great Lakes Advisors LLC now owns 45,031 shares of the real estate investment trust's stock worth $578,000 after acquiring an additional 15,108 shares during the period. Finally, Caxton Associates LLP purchased a new position in Chimera Investment in the first quarter worth $1,167,000. Hedge funds and other institutional investors own 48.44% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on CIM shares. Wall Street Zen lowered shares of Chimera Investment from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. UBS Group increased their price target on shares of Chimera Investment from $15.00 to $16.00 and gave the company 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 on the stock in a report on Thursday, July 10th. One 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 presently has an average rating of "Hold" and a consensus target price of $15.50.

Chimera Investment Price Performance

NYSE:CIM traded down $0.28 during trading hours on Monday, reaching $13.71. 864,416 shares of the company traded hands, compared to its average volume of 526,462. The stock has a market cap of $1.11 billion, a P/E ratio of 10.88 and a beta of 1.85. The firm's 50-day moving average is $13.92 and its 200-day moving average is $13.32. Chimera Investment Corporation has a 1-year low of $9.85 and a 1-year high of $16.73. The company has a debt-to-equity ratio of 4.47, a current ratio of 4.14 and a quick ratio of 4.14.

Chimera Investment (NYSE:CIM - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The real estate investment trust reported $0.39 earnings per share (EPS) 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 business had revenue of $66.01 million for the quarter, compared to analyst estimates of $83.89 million. Equities research analysts expect that Chimera Investment Corporation will post 1.57 earnings per share for the current fiscal year.

Chimera Investment Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 10.8%. The ex-dividend date of this dividend is Tuesday, September 30th. Chimera Investment's payout ratio is presently 117.46%.

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.