Zacks Investment Management Buys New Stake in Chimera Investment Corporation (CIM)
Zacks Investment Management bought a new position in shares of Chimera Investment Corporation (NYSE:CIM) during the third quarter, Holdings Channel reports. The institutional investor bought 101,590 shares of the company’s stock, valued at approximately $1,620,000. Zacks Investment Management owned 0.05% of Chimera Investment Corporation as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Wedbush Securities Inc. increased its position in Chimera Investment Corporation by 0.4% in the third quarter. Wedbush Securities Inc. now owns 11,172 shares of the company’s stock worth $178,000 after buying an additional 49 shares during the period. BBR Partners LLC increased its position in Chimera Investment Corporation by 3.4% in the second quarter. BBR Partners LLC now owns 12,926 shares of the company’s stock worth $203,000 after buying an additional 425 shares during the period. Amalgamated Bank increased its position in Chimera Investment Corporation by 3.0% in the second quarter. Amalgamated Bank now owns 22,658 shares of the company’s stock worth $370,000 after buying an additional 657 shares during the period. Public Employees Retirement System of Ohio increased its position in Chimera Investment Corporation by 1.8% in the second quarter. Public Employees Retirement System of Ohio now owns 48,590 shares of the company’s stock worth $763,000 after buying an additional 868 shares during the period. Finally, BlackRock Inc. increased its position in Chimera Investment Corporation by 1.4% in the third quarter. BlackRock Inc. now owns 86,599 shares of the company’s stock worth $1,381,000 after buying an additional 1,232 shares during the period. 52.30% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Chimera Investment Corporation (NYSE:CIM) traded up 0.23% during mid-day trading on Friday, hitting $17.49. 899,411 shares of the stock traded hands. The firm’s 50 day moving average price is $17.21 and its 200-day moving average price is $16.35. Chimera Investment Corporation has a 12-month low of $10.89 and a 12-month high of $17.72. The stock has a market cap of $3.28 billion, a P/E ratio of 7.39 and a beta of 0.85.
Chimera Investment Corporation (NYSE:CIM) last posted its quarterly earnings results on Tuesday, November 1st. The company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.11. Chimera Investment Corporation had a net margin of 50.90% and a return on equity of 14.60%. During the same period in the previous year, the firm earned $0.50 EPS. Analysts predict that Chimera Investment Corporation will post $2.39 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 27th. Investors of record on Friday, December 30th will be issued a $0.50 dividend. The ex-dividend date is Wednesday, December 28th. This is a boost from Chimera Investment Corporation’s previous quarterly dividend of $0.48. This represents a $2.00 annualized dividend and a yield of 11.44%. Chimera Investment Corporation’s dividend payout ratio is currently 84.75%.
Several brokerages have issued reports on CIM. Zacks Investment Research downgraded shares of Chimera Investment Corporation from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 3rd. Barclays PLC reissued a “hold” rating on shares of Chimera Investment Corporation in a research report on Monday, November 7th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $16.58.
About Chimera Investment Corporation
Chimera Investment Corporation is a real estate investment trust. The Company is primarily engaged in the business of investing, on a leveraged basis, in a diversified portfolio of mortgage assets, including Agency residential mortgage-backed securities (RMBS), Non-Agency RMBS, Agency commercial mortgage backed securities (CMBS), residential mortgage loans and real estate related securities.
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