Wolverine Asset Management LLC Buys 186,114 Shares of Chimera Investment Corporation $CIM

Key Points

• Wolverine Asset Management increased its stake in Chimera Investment by 35.3%, buying 186,114 shares to hold 713,039 shares (about 0.86% of the company) valued at roughly $8.86 million.
• Chimera raised its quarterly dividend to $0.45 (annualized $1.80), implying a 12.9% yield while the payout ratio sits at 102.86%, signaling a high-yield but heavily distributed payout.
• Analysts are mixed—the stock has an average rating of "Hold" with a $14.50 target and some recent downgrades to Sell—despite a quarterly EPS beat ($0.53 vs. $0.50); Chimera trades at a PE of 7.97 with a market cap of $1.17 billion.

Wolverine Asset Management LLC raised its stake in shares of Chimera Investment Corporation (NYSE:CIM - Free Report) by 35.3% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 713,039 shares of the real estate investment trust's stock after acquiring an additional 186,114 shares during the period. Wolverine Asset Management LLC owned approximately 0.86% of Chimera Investment worth $8,863,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of CIM. Dynamic Technology Lab Private Ltd lifted its stake in Chimera Investment by 36.1% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 16,568 shares of the real estate investment trust's stock valued at $213,000 after acquiring an additional 4,399 shares during the period. Empowered Funds LLC lifted its stake in Chimera Investment by 12.9% during the 1st quarter. Empowered Funds LLC now owns 21,322 shares of the real estate investment trust's stock valued at $274,000 after acquiring an additional 2,430 shares during the period. Creative Planning lifted its stake in Chimera Investment by 82.3% during the 2nd quarter. Creative Planning now owns 21,766 shares of the real estate investment trust's stock valued at $302,000 after acquiring an additional 9,828 shares during the period. Cetera Investment Advisers lifted its stake in Chimera Investment by 6.1% during the 2nd quarter. Cetera Investment Advisers now owns 19,926 shares of the real estate investment trust's stock valued at $276,000 after acquiring an additional 1,143 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in Chimera Investment by 42.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 246,471 shares of the real estate investment trust's stock valued at $3,419,000 after acquiring an additional 73,634 shares during the period. Institutional investors own 48.44% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on CIM shares. Weiss Ratings cut shares of Chimera Investment from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, March 20th. Wall Street Zen cut shares of Chimera Investment from a "hold" rating to a "sell" rating in a research note on Saturday, February 21st. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $14.50.

Chimera Investment Price Performance

Shares of NYSE:CIM opened at $13.96 on Monday. The firm's 50 day moving average price is $13.27 and its 200-day moving average price is $12.93. Chimera Investment Corporation has a twelve month low of $11.67 and a twelve month high of $14.88. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 2.71. The stock has a market capitalization of $1.17 billion, a PE ratio of 7.97 and a beta of 1.71.

Chimera Investment (NYSE:CIM - Get Free Report) last issued its quarterly earnings data on Wednesday, February 11th. The real estate investment trust reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.03. Chimera Investment had a net margin of 28.06% and a return on equity of 8.73%. The firm had revenue of $72.01 million for the quarter, compared to analysts' expectations of $80.77 million.

Chimera Investment Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st were paid a $0.45 dividend. This is a boost from Chimera Investment's previous quarterly dividend of $0.37. The ex-dividend date was Tuesday, March 31st. This represents a $1.80 annualized dividend and a dividend yield of 12.9%. Chimera Investment's dividend payout ratio (DPR) is currently 102.86%.

About Chimera Investment

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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