Manning & Napier Advisors LLC Buys 50,000 Shares of Chimera Investment Corporation (NYSE:CIM)

Manning & Napier Advisors LLC increased its stake in Chimera Investment Corporation (NYSE:CIM) by 50.0% during the first quarter, Holdings Channel reports. The firm owned 150,000 shares of the real estate investment trust’s stock after acquiring an additional 50,000 shares during the period. Manning & Napier Advisors LLC’s holdings in Chimera Investment were worth $1,924,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Norges Bank bought a new stake in Chimera Investment during the fourth quarter worth about $3,827,000. LSV Asset Management raised its position in shares of Chimera Investment by 141.2% in the 4th quarter. LSV Asset Management now owns 349,501 shares of the real estate investment trust’s stock valued at $4,893,000 after buying an additional 204,584 shares in the last quarter. Teacher Retirement System of Texas bought a new stake in shares of Chimera Investment during the 4th quarter worth approximately $2,004,000. JPMorgan Chase & Co. lifted its holdings in shares of Chimera Investment by 84.7% during the 4th quarter. JPMorgan Chase & Co. now owns 309,935 shares of the real estate investment trust’s stock worth $4,339,000 after acquiring an additional 142,105 shares during the period. Finally, ExodusPoint Capital Management LP acquired a new stake in shares of Chimera Investment during the 4th quarter worth approximately $1,231,000. Institutional investors own 48.44% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on CIM shares. UBS Group upgraded shares of Chimera Investment from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $11.50 to $15.00 in a research report on Wednesday, May 14th. Wall Street Zen upgraded Chimera Investment from a “hold” rating to a “buy” rating in a research note on Thursday, May 15th. Finally, Royal Bank Of Canada raised Chimera Investment to a “moderate buy” rating in a report on Friday, March 14th. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Chimera Investment currently has an average rating of “Moderate Buy” and an average target price of $15.50.

Chimera Investment Trading Up 0.2%

CIM opened at $13.76 on Tuesday. The company has a market cap of $1.11 billion, a P/E ratio of 9.17 and a beta of 1.75. The company has a current ratio of 3.70, a quick ratio of 3.70 and a debt-to-equity ratio of 3.93. The company’s 50 day moving average is $12.90 and its 200-day moving average is $13.49. Chimera Investment Corporation has a 1-year low of $9.85 and a 1-year high of $16.89.

Chimera Investment (NYSE:CIM) last issued its earnings results on Thursday, May 8th. The real estate investment trust reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.03. The firm had revenue of $69.22 million for the quarter, compared to analyst estimates of $72.07 million. Chimera Investment had a net margin of 25.12% and a return on equity of 7.25%. Equities research analysts predict that Chimera Investment Corporation will post 1.57 earnings per share for the current fiscal year.

Chimera Investment Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 10.76%. The ex-dividend date of this dividend is Monday, June 30th. Chimera Investment’s dividend payout ratio (DPR) is 98.67%.

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.