Shares of Chimera Investment Corp. (NYSE:CIM) saw unusually-strong trading volume on Wednesday . Approximately 2,707,813 shares traded hands during trading, an increase of 59% from the previous session’s volume of 1,704,098 shares.The stock last traded at $16.29 and had previously closed at $16.29.

Several equities research analysts have recently issued reports on CIM shares. Nomura reissued a “buy” rating and set a $17.00 price objective on shares of Chimera Investment Corp. in a research report on Tuesday, July 5th. Zacks Investment Research raised shares of Chimera Investment Corp. from a “hold” rating to a “strong-buy” rating and set a $18.00 price objective for the company in a research report on Thursday, July 14th. Deutsche Bank AG increased their price objective on shares of Chimera Investment Corp. from $14.50 to $17.50 and gave the stock a “hold” rating in a research report on Tuesday, August 9th. Keefe, Bruyette & Woods increased their price objective on shares of Chimera Investment Corp. from $14.00 to $15.50 and gave the stock a “market perform” rating in a research report on Tuesday, August 9th. Finally, Barclays PLC increased their price objective on shares of Chimera Investment Corp. from $14.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 10th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $16.58.

The firm’s 50-day moving average price is $16.38 and its 200-day moving average price is $15.25. The firm has a market capitalization of $3.06 billion, a price-to-earnings ratio of 13.85 and a beta of 0.82.

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Chimera Investment Corp. (NYSE:CIM) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.51 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.53 by $0.02. The firm earned $137.87 million during the quarter, compared to analyst estimates of $134.42 million. Chimera Investment Corp. had a return on equity of 13.50% and a net margin of 26.83%. The firm’s revenue for the quarter was down 7.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.57 EPS. On average, analysts forecast that Chimera Investment Corp. will post $2.23 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 27th. Stockholders of record on Friday, September 30th will be given a $0.48 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 11.79%. Chimera Investment Corp.’s dividend payout ratio (DPR) is currently 160.00%.

In other news, COO Choudhary Yarlagadda purchased 2,305 shares of the company’s stock in a transaction dated Friday, September 9th. The shares were purchased at an average price of $16.10 per share, for a total transaction of $37,110.50. Following the transaction, the chief operating officer now owns 104,391 shares of the company’s stock, valued at $1,680,695.10. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.62% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Acrospire Investment Management LLC purchased a new position in shares of Chimera Investment Corp. during the second quarter worth about $114,000. Nisa Investment Advisors LLC purchased a new position in shares of Chimera Investment Corp. during the second quarter worth about $159,000. Advisor Group Inc. purchased a new position in shares of Chimera Investment Corp. during the second quarter worth about $159,000. Prudential PLC purchased a new position in shares of Chimera Investment Corp. during the first quarter worth about $160,000. Finally, HighTower Advisors LLC purchased a new position in shares of Chimera Investment Corp. during the second quarter worth about $160,000. Hedge funds and other institutional investors own 53.61% of the company’s stock.

About Chimera Investment Corp.

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.

5 Day Chart for NYSE:CIM

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