Bank of America Corp DE cut its stake in shares of Chimera Investment Corporation (NYSE:CIM) by 36.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 256,008 shares of the real estate investment trust’s stock after selling 147,428 shares during the period. Bank of America Corp DE owned approximately 0.14% of Chimera Investment Corporation worth $5,166,000 as of its most recent filing with the SEC.
Several other large investors also recently added to or reduced their stakes in CIM. Vanguard Group Inc. increased its stake in Chimera Investment Corporation by 4.7% in the first quarter. Vanguard Group Inc. now owns 14,556,082 shares of the real estate investment trust’s stock valued at $293,741,000 after buying an additional 658,674 shares during the last quarter. BlackRock Inc. increased its stake in Chimera Investment Corporation by 14,286.5% in the first quarter. BlackRock Inc. now owns 11,273,292 shares of the real estate investment trust’s stock valued at $227,494,000 after buying an additional 11,194,932 shares during the last quarter. Geode Capital Management LLC increased its stake in Chimera Investment Corporation by 5.2% in the first quarter. Geode Capital Management LLC now owns 2,598,005 shares of the real estate investment trust’s stock valued at $52,427,000 after buying an additional 129,234 shares during the last quarter. LSV Asset Management increased its stake in Chimera Investment Corporation by 49.6% in the first quarter. LSV Asset Management now owns 2,247,147 shares of the real estate investment trust’s stock valued at $45,347,000 after buying an additional 744,848 shares during the last quarter. Finally, Copper Rock Capital Partners LLC increased its stake in Chimera Investment Corporation by 1.7% in the first quarter. Copper Rock Capital Partners LLC now owns 1,886,050 shares of the real estate investment trust’s stock valued at $38,004,000 after buying an additional 31,869 shares during the last quarter. 53.28% of the stock is owned by institutional investors.
Chimera Investment Corporation (NYSE:CIM) opened at 18.90 on Friday. Chimera Investment Corporation has a 52-week low of $14.70 and a 52-week high of $20.90. The firm’s 50-day moving average price is $18.75 and its 200 day moving average price is $19.08. The company has a market cap of $3.55 billion, a PE ratio of 5.43 and a beta of 0.94.
Chimera Investment Corporation (NYSE:CIM) last issued its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.63 by $0.03. The company had revenue of $150.70 million for the quarter, compared to analysts’ expectations of $149.75 million. Chimera Investment Corporation had a return on equity of 14.27% and a net margin of 63.94%. The business’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period last year, the company posted $0.51 EPS. On average, equities analysts predict that Chimera Investment Corporation will post $2.32 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Friday, September 29th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $2.00 dividend on an annualized basis and a yield of 10.58%. Chimera Investment Corporation’s dividend payout ratio (DPR) is 57.31%.
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CIM has been the subject of several recent analyst reports. BidaskClub raised Chimera Investment Corporation from a “hold” rating to a “buy” rating in a report on Thursday. ValuEngine raised Chimera Investment Corporation from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 3rd. Deutsche Bank AG raised their price target on Chimera Investment Corporation from $19.00 to $20.00 and gave the company a “hold” rating in a report on Thursday, August 3rd. Barclays PLC set a $17.00 price target on Chimera Investment Corporation and gave the company a “hold” rating in a report on Monday, May 8th. Finally, Zacks Investment Research downgraded Chimera Investment Corporation from a “hold” rating to a “sell” rating in a report on Friday, August 4th. One analyst has rated the stock with a sell rating, four have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $18.88.
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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