Chimera Investment Corporation to Issue Quarterly Dividend of $0.45 (NYSE:CIM)

Chimera Investment Corporation (NYSE:CIM) announced a quarterly dividend on Thursday, September 17th. Shareholders of record on Wednesday, September 30th will be given a dividend of 0.45 per share by the real estate investment trust on Friday, October 30th. This represents a c) annualized dividend and a yield of 16.3%. The ex-dividend date of this dividend is Wednesday, September 30th.

Chimera Investment has decreased its dividend payment by an average of 0.2%annually over the last three years and has increased its dividend annually for the last 1 consecutive years. Chimera Investment has a dividend payout ratio of 94.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall.

Chimera Investment Price Performance

CIM stock opened at $11.02 on Friday. The stock has a market capitalization of $922.84 million, a PE ratio of -10.81 and a beta of 1.66. The company’s 50-day moving average is $11.98 and its 200-day moving average is $12.83. The company has a debt-to-equity ratio of 2.34, a current ratio of 0.07 and a quick ratio of 0.07. Chimera Investment has a 1 year low of $10.84 and a 1 year high of $14.22.

Chimera Investment (NYSE:CIM) last announced its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.08). The firm had revenue of $94.77 million during the quarter, compared to the consensus estimate of $95.30 million. Chimera Investment had a return on equity of 9.82% and a net margin of 0.14%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Wall Street Zen upgraded shares of Chimera Investment from a “sell” rating to a “hold” rating in a report on Sunday, June 28th. Weiss Ratings raised shares of Chimera Investment from a “sell (d)” rating to a “sell (d+)” rating in a research report on Monday, August 17th. Keefe, Bruyette & Woods decreased their price objective on Chimera Investment from $15.00 to $14.00 and set a “market perform” rating for the company in a report on Thursday, August 6th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and issued a $14.00 price objective on shares of Chimera Investment in a research note on Wednesday, June 3rd. One 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’s stock. According to data from MarketBeat.com, Chimera Investment presently has a consensus rating of “Hold” and an average price target of $14.50.

About Chimera Investment

Chimera Investment Corporation is a real estate investment trust that invests in residential mortgage assets. The company’s portfolio has historically included residential mortgage-backed securities, residential mortgage loans and other mortgage-related investments, including both agency and non-agency assets.

Chimera seeks to generate income from the interest and cash flows associated with its investments. Its activities are primarily focused on the U.S. residential housing and mortgage markets, and the company may invest in assets with different levels of credit and prepayment risk.

Founded in 2007, Chimera is externally managed and has operated as a mortgage-focused REIT.