Manning & Napier Advisors LLC increased its stake in shares of Chimera Investment Corporation (NYSE:CIM - Free Report) by 50.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 150,000 shares of the real estate investment trust's stock after buying an additional 50,000 shares during the quarter. Manning & Napier Advisors LLC owned about 0.19% of Chimera Investment worth $1,924,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Quarry LP increased its holdings 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 purchasing an additional 3,062 shares during the period. GAMMA Investing LLC boosted its holdings 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 acquiring an additional 3,666 shares in the last quarter. New Age Alpha Advisors LLC purchased a new position in Chimera Investment during the fourth quarter worth about $56,000. Hillsdale Investment Management Inc. acquired a new position in Chimera Investment during the 4th quarter worth approximately $65,000. Finally, Summit Securities Group LLC purchased a new stake in shares of Chimera Investment in the fourth quarter valued at approximately $111,000. Institutional investors and hedge funds own 48.44% of the company's stock.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on CIM. UBS Group raised shares of Chimera Investment from a "neutral" rating to a "buy" rating and increased their target price for the company from $11.50 to $15.00 in a report on Wednesday, May 14th. Royal Bank Of Canada upgraded shares of Chimera Investment to a "moderate buy" rating in a report on Friday, March 14th. Finally, Wall Street Zen raised shares of Chimera Investment from a "hold" rating to a "buy" rating in a report on Thursday, May 15th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Chimera Investment presently has a consensus rating of "Moderate Buy" and a consensus price target of $15.50.
Check Out Our Latest Stock Report on CIM
Chimera Investment Trading Up 0.9%
Shares of NYSE:CIM traded up $0.13 during trading on Tuesday, reaching $13.90. The stock had a trading volume of 513,787 shares, compared to its average volume of 578,026. Chimera Investment Corporation has a fifty-two week low of $9.85 and a fifty-two week high of $16.89. The business has a fifty day moving average price of $12.90 and a 200-day moving average price of $13.49. The stock has a market cap of $1.13 billion, a P/E ratio of 9.26 and a beta of 1.75. The company has a quick ratio of 3.70, a current ratio of 3.70 and a debt-to-equity ratio of 3.93.
Chimera Investment (NYSE:CIM - Get Free Report) last released its earnings results on Thursday, May 8th. The real estate investment trust reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.03. Chimera Investment had a return on equity of 7.25% and a net margin of 25.12%. The firm had revenue of $69.22 million for the quarter, compared to the consensus estimate of $72.07 million. As a group, analysts anticipate that Chimera Investment Corporation will post 1.57 earnings per share for the current fiscal year.
Chimera Investment Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.48 annualized dividend and a dividend yield of 10.65%. Chimera Investment's dividend payout ratio is presently 98.67%.
Chimera Investment Profile
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Free Report)
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.
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