SG Americas Securities LLC Makes New Investment in Chimera Investment Corporation $CIM

Key Points

• SG Americas Securities LLC bought a new stake of 597,817 shares in Chimera (NYSE:CIM) valued at about $7.43 million, representing roughly 0.72% ownership at the end of the quarter.
• Chimera raised its quarterly dividend to $0.45 (annualized $1.80), implying a 14.2% yield; the ex-dividend date is March 31 and the payment is scheduled for April 30.
• Chimera reported quarterly EPS of $0.53 (beating estimates by $0.03) while revenue missed forecasts; the stock trades near $12.65 with a P/E of 7.23 and a consensus analyst rating of Hold (price target $14.50).

SG Americas Securities LLC purchased a new stake in shares of Chimera Investment Corporation (NYSE:CIM - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 597,817 shares of the real estate investment trust's stock, valued at approximately $7,431,000. SG Americas Securities LLC owned about 0.72% of Chimera Investment at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Allianz Asset Management GmbH raised its stake in Chimera Investment by 21.7% in the third quarter. Allianz Asset Management GmbH now owns 1,671,318 shares of the real estate investment trust's stock valued at $22,095,000 after purchasing an additional 297,709 shares in the last quarter. Two Sigma Investments LP grew its stake in Chimera Investment by 88.7% in the 3rd quarter. Two Sigma Investments LP now owns 574,456 shares of the real estate investment trust's stock worth $7,594,000 after buying an additional 270,034 shares in the last quarter. Millennium Management LLC grew its stake in Chimera Investment by 141.4% in the 3rd quarter. Millennium Management LLC now owns 420,670 shares of the real estate investment trust's stock worth $5,561,000 after buying an additional 246,424 shares in the last quarter. Qube Research & Technologies Ltd raised its position in shares of Chimera Investment by 214.9% during the 3rd quarter. Qube Research & Technologies Ltd now owns 206,430 shares of the real estate investment trust's stock valued at $2,729,000 after buying an additional 140,874 shares in the last quarter. Finally, Mariner Investment Group LLC bought a new stake in shares of Chimera Investment during the 3rd quarter worth $1,520,000. Hedge funds and other institutional investors own 48.44% of the company's stock.

Chimera Investment Trading Up 1.9%

Shares of CIM opened at $12.65 on Tuesday. Chimera Investment Corporation has a fifty-two week low of $9.85 and a fifty-two week high of $14.88. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of 7.23 and a beta of 1.80. The firm has a 50 day moving average price of $13.10 and a 200-day moving average price of $12.97. The company has a debt-to-equity ratio of 2.71, a quick ratio of 0.06 and a current ratio of 0.06.

Chimera Investment (NYSE:CIM - Get Free Report) last released its earnings results on Wednesday, February 11th. The real estate investment trust reported $0.53 EPS for the quarter, beating the consensus estimate of $0.50 by $0.03. The company had revenue of $72.01 million for the quarter, compared to analyst estimates of $80.77 million. Chimera Investment had a net margin of 28.06% and a return on equity of 8.73%. As a group, equities research analysts forecast that Chimera Investment Corporation will post 1.57 earnings per share for the current year.

Chimera Investment Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 14.2%. This is an increase from Chimera Investment's previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Tuesday, March 31st. Chimera Investment's payout ratio is 84.57%.

Wall Street Analysts Forecast Growth

CIM has been the subject of several research reports. Wall Street Zen lowered shares of Chimera Investment from a "hold" rating to a "sell" rating in a research report on Saturday, February 21st. Royal Bank Of Canada lowered Chimera Investment from an "outperform" rating to a "sector perform" rating and set a $13.00 price target for the company. in a research note on Tuesday, December 9th. Finally, Weiss Ratings cut Chimera Investment from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday, March 20th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $14.50.

Chimera Investment Company Profile

Chimera Investment Corporation NYSE: CIM is a publicly traded real estate investment trust that specializes in investing in residential mortgage assets. The company's portfolio primarily consists of agency and non-agency residential mortgage-backed securities, whole loan residential mortgages and other mortgage-related assets. As a REIT, Chimera Investment aims to generate attractive risk-adjusted returns through its focus on high-quality collateral and disciplined risk management.

The firm's core business activities include identifying and acquiring portfolios of residential mortgage loans and securities from financial institutions and in the secondary market.

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