Wolverine Asset Management LLC Buys 58,018 Shares of Chimera Investment Corporation (NYSE:CIM)

Key Points

• Wolverine Asset Management LLC has increased its holdings in Chimera Investment Corporation by 30.4%, owning 248,913 shares worth approximately $3.19 million as of the latest SEC filing.
• Chimera Investment recently reported earnings of $0.39 EPS, missing analyst expectations of $0.46, with revenue of $66.01 million compared to estimates of $83.89 million.
• Chimera Investment announced a quarterly dividend of $0.37 per share, yielding 11.0%, although its payout ratio is notably high at 98.67%.

Wolverine Asset Management LLC boosted its holdings in shares of Chimera Investment Corporation (NYSE:CIM - Free Report) by 30.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 248,913 shares of the real estate investment trust's stock after buying an additional 58,018 shares during the quarter. Wolverine Asset Management LLC owned approximately 0.31% of Chimera Investment worth $3,194,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the stock. Investment Partners Asset Management Inc. increased its holdings in Chimera Investment by 10.2% in the first quarter. Investment Partners Asset Management Inc. now owns 14,437 shares of the real estate investment trust's stock valued at $185,000 after purchasing an additional 1,338 shares during the period. Sterling Capital Management LLC increased its holdings in Chimera Investment by 4.9% in the fourth quarter. Sterling Capital Management LLC now owns 29,111 shares of the real estate investment trust's stock valued at $408,000 after purchasing an additional 1,357 shares during the period. AXS Investments LLC increased its holdings in Chimera Investment by 1.8% in the first quarter. AXS Investments LLC now owns 109,345 shares of the real estate investment trust's stock valued at $1,403,000 after purchasing an additional 1,911 shares during the period. Cetera Investment Advisers increased its holdings in Chimera Investment by 11.4% in the first quarter. Cetera Investment Advisers now owns 18,783 shares of the real estate investment trust's stock valued at $241,000 after purchasing an additional 1,927 shares during the period. Finally, MetLife Investment Management LLC increased its holdings in Chimera Investment by 5.8% in the fourth quarter. MetLife Investment Management LLC now owns 49,231 shares of the real estate investment trust's stock valued at $689,000 after purchasing an additional 2,694 shares during the period. 48.44% of the stock is currently owned by institutional investors.

Chimera Investment Stock Performance

Shares of Chimera Investment stock traded up $0.16 during mid-day trading on Wednesday, hitting $13.68. 200,344 shares of the stock were exchanged, compared to its average volume of 575,783. Chimera Investment Corporation has a 12 month low of $9.85 and a 12 month high of $16.89. The company has a 50-day simple moving average of $13.84 and a 200 day simple moving average of $13.38. The company has a debt-to-equity ratio of 4.47, a quick ratio of 4.14 and a current ratio of 4.14. The company has a market capitalization of $1.11 billion, a P/E ratio of 10.85 and a beta of 1.79.

Chimera Investment (NYSE:CIM - Get Free Report) last posted its earnings results on Wednesday, August 6th. The real estate investment trust reported $0.39 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.07). Chimera Investment had a return on equity of 7.28% and a net margin of 21.93%. The firm had revenue of $66.01 million for the quarter, compared to the consensus estimate of $83.89 million. Sell-side analysts anticipate that Chimera Investment Corporation will post 1.57 earnings per share for the current fiscal year.

Chimera Investment Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, June 30th were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $1.48 annualized dividend and a dividend yield of 10.8%. Chimera Investment's dividend payout ratio (DPR) is currently 117.46%.

Analyst Upgrades and Downgrades

CIM has been the subject of a number of recent research reports. Keefe, Bruyette & Woods decreased their price objective on Chimera Investment from $16.50 to $15.00 and set a "market perform" rating for the company in a report on Thursday, July 10th. UBS Group increased their price target on Chimera Investment from $15.00 to $16.00 and gave the stock a "buy" rating in a report on Thursday, July 10th. Finally, Wall Street Zen downgraded Chimera Investment from a "hold" rating to a "sell" rating in a report on Saturday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $15.50.

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.