Chimera Investment Corporation (CIM) Issues Earnings Results
Chimera Investment Corporation (NYSE:CIM) posted its quarterly earnings data on Thursday. The real estate investment trust reported $0.62 EPS for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.05, Bloomberg Earnings reports. Chimera Investment Corporation had a net margin of 63.94% and a return on equity of 14.27%. The firm had revenue of $156.46 million for the quarter, compared to the consensus estimate of $150.29 million. During the same period in the prior year, the firm posted $0.68 EPS. The firm’s revenue was up .3% compared to the same quarter last year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 30th. Shareholders of record on Friday, December 29th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 10.94%. The ex-dividend date is Thursday, December 28th. Chimera Investment Corporation’s payout ratio is 57.31%.
A hedge fund recently raised its stake in Chimera Investment Corporation stock. The Manufacturers Life Insurance Company increased its holdings in shares of Chimera Investment Corporation (NYSE:CIM) by 5.5% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,580 shares of the real estate investment trust’s stock after purchasing an additional 341 shares during the quarter. The Manufacturers Life Insurance Company ‘s holdings in Chimera Investment Corporation were worth $123,000 as of its most recent filing with the SEC. 51.18% of the stock is owned by institutional investors.
A number of research firms have commented on CIM. Zacks Investment Research downgraded shares of Chimera Investment Corporation from a “hold” rating to a “sell” rating in a research note on Friday, August 4th. ValuEngine upgraded shares of Chimera Investment Corporation from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. Barclays PLC set a $18.00 price target on shares of Chimera Investment Corporation and gave the stock a “hold” rating in a research report on Tuesday, October 10th. BidaskClub raised shares of Chimera Investment Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, July 25th. Finally, Deutsche Bank AG increased their price objective on shares of Chimera Investment Corporation from $19.00 to $20.00 and gave the stock a “hold” rating in a report on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Chimera Investment Corporation currently has a consensus rating of “Hold” and an average price target of $18.83.
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About Chimera Investment Corporation
Chimera Investment Corporation is a real estate investment trust (REIT). The company is engaged in the business of investing in a portfolio of mortgage assets, including agency residential mortgage-backed security (RMBS), non-agency RMBS, agency commercial mortgage-backed securities (CMBS), residential mortgage loans and real estate related securities.
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