Chimera Investment Corporation $CIM Stake Boosted by Pale Fire Capital SE

Key Points

• Pale Fire Capital SE increased its stake in Chimera Investment Corporation by 39.2%, now holding 207,620 shares worth approximately $2.66 million.
• Chimera Investment's stock recently announced a quarterly dividend of $0.37 per share, yielding 10.5%, but has a high payout ratio of 117.46%.
• Analysts have mixed views on the stock, with one buy rating, two hold ratings, and a recent downgrade to "sell" from Wall Street Zen.

Pale Fire Capital SE lifted its stake in Chimera Investment Corporation (NYSE:CIM - Free Report) by 39.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 207,620 shares of the real estate investment trust's stock after buying an additional 58,429 shares during the period. Chimera Investment makes up 0.3% of Pale Fire Capital SE's portfolio, making the stock its 21st biggest position. Pale Fire Capital SE owned 0.26% of Chimera Investment worth $2,664,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. Barclays PLC boosted its position 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 worth $2,885,000 after buying an additional 22,764 shares during the period. Deutsche Bank AG boosted its position in shares of Chimera Investment by 47.6% in the fourth quarter. Deutsche Bank AG now owns 69,741 shares of the real estate investment trust's stock worth $976,000 after buying an additional 22,476 shares during the period. Manning & Napier Advisors LLC boosted its position in shares of Chimera Investment by 50.0% in 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 buying an additional 50,000 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in shares of Chimera Investment by 18.4% in 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 buying an additional 2,730 shares during the period. Finally, Northern Trust Corp boosted its position in shares of Chimera Investment by 9.6% in the fourth quarter. Northern Trust Corp now owns 800,838 shares of the real estate investment trust's stock worth $11,212,000 after buying an additional 70,362 shares during the period. Hedge funds and other institutional investors own 48.44% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CIM shares. Keefe, Bruyette & Woods decreased their target price on Chimera Investment from $16.50 to $15.00 and set a "market perform" rating for the company in a research report on Thursday, July 10th. UBS Group boosted their price target on Chimera Investment from $15.00 to $16.00 and gave the stock a "buy" rating in a research note on Thursday, July 10th. Finally, Wall Street Zen cut Chimera Investment from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, Chimera Investment presently has an average rating of "Hold" and an average target price of $15.50.

Chimera Investment Stock Up 0.4%

NYSE CIM traded up $0.06 on Friday, hitting $14.06. 117,853 shares of the stock traded hands, compared to its average volume of 565,723. The stock has a 50-day moving average of $13.85 and a 200 day moving average of $13.30. Chimera Investment Corporation has a twelve month low of $9.85 and a twelve month high of $16.89. The company has a market capitalization of $1.14 billion, a P/E ratio of 11.17 and a beta of 1.79. 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 (NYSE:CIM - Get Free Report) last announced 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 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, analysts expect that Chimera Investment Corporation will post 1.57 earnings per share for the current fiscal year.

Chimera Investment Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, June 30th were paid a dividend of $0.37 per share. The ex-dividend date was Monday, June 30th. This represents a $1.48 annualized dividend and a yield of 10.5%. Chimera Investment's dividend payout ratio is presently 117.46%.

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.