Northern Trust Corp Has $9.83 Million Holdings in Chimera Investment Corporation $CIM

Key Points

• Northern Trust Corp reduced its stake in Chimera Investment Corporation by 4.3%, now holding 766,185 shares valued at approximately $9.83 million.
• Chimera Investment reported a missed earnings estimate of $0.39 EPS for the quarter, falling short of the $0.46 consensus, with revenue of $66.01 million.
• The firm's board declared a quarterly dividend of $0.37, resulting in a yield of 10.1% and a payout ratio of 117.46%.

Northern Trust Corp trimmed its position in Chimera Investment Corporation (NYSE:CIM - Free Report) by 4.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 766,185 shares of the real estate investment trust's stock after selling 34,653 shares during the quarter. Northern Trust Corp owned approximately 0.95% of Chimera Investment worth $9,830,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Deutsche Bank AG raised its holdings in Chimera Investment by 47.6% in the 4th quarter. Deutsche Bank AG now owns 69,741 shares of the real estate investment trust's stock valued at $976,000 after acquiring an additional 22,476 shares during the period. Manning & Napier Advisors LLC increased its holdings in shares of Chimera Investment by 50.0% during the first quarter. Manning & Napier Advisors LLC now owns 150,000 shares of the real estate investment trust's stock worth $1,924,000 after purchasing an additional 50,000 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Chimera Investment by 18.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 17,529 shares of the real estate investment trust's stock worth $225,000 after purchasing an additional 2,730 shares during the period. Bank of America Corp DE increased its holdings in shares of Chimera Investment by 18.5% during the fourth quarter. Bank of America Corp DE now owns 115,959 shares of the real estate investment trust's stock worth $1,623,000 after purchasing an additional 18,075 shares during the period. Finally, Cadent Capital Advisors LLC increased its holdings in shares of Chimera Investment by 23.9% during the first quarter. Cadent Capital Advisors LLC now owns 215,712 shares of the real estate investment trust's stock worth $2,768,000 after purchasing an additional 41,679 shares during the period. 48.44% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CIM. UBS Group raised their target price 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. Keefe, Bruyette & Woods lowered their target price 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. Finally, Wall Street Zen cut shares of Chimera Investment from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $15.50.

Chimera Investment Price Performance

Shares of NYSE CIM traded down $0.02 during mid-day trading on Wednesday, hitting $14.50. 271,816 shares of the stock traded hands, compared to its average volume of 565,709. 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 Corporation has a twelve month low of $9.85 and a twelve month high of $16.89. The company has a market cap of $1.18 billion, a PE ratio of 11.52 and a beta of 1.85. The firm has a 50 day simple moving average of $13.93 and a two-hundred day simple moving average of $13.32.

Chimera Investment (NYSE:CIM - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The real estate investment trust reported $0.39 earnings per share for the quarter, missing the consensus estimate 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 analyst estimates of $83.89 million. As a group, equities research analysts forecast that Chimera Investment Corporation will post 1.57 EPS for the current fiscal year.

About Chimera Investment

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.