Chimera Investment Corporation (CIM) Announces Earnings Results
Chimera Investment Corporation (NYSE:CIM) announced its quarterly earnings data on Thursday. The real estate investment trust reported $0.62 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.05, Bloomberg Earnings reports. The business had revenue of $156.46 million for the quarter, compared to analysts’ expectations of $150.29 million. Chimera Investment Corporation had a net margin of 58.21% and a return on equity of 13.53%. The business’s revenue was up .3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.68 earnings per share.
Chimera Investment Corporation (NYSE:CIM) traded down $0.10 during trading hours on Friday, hitting $18.28. 3,145 shares of the stock were exchanged, compared to its average volume of 819,687. The stock has a market cap of $3,447.66, a PE ratio of 7.71 and a beta of 0.86.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 30th. Stockholders of record on Friday, December 29th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 10.94%. The ex-dividend date is Thursday, December 28th. Chimera Investment Corporation’s payout ratio is 61.35%.
A hedge fund recently raised its stake in Chimera Investment Corporation stock. The Manufacturers Life Insurance Company boosted its stake in shares of Chimera Investment Corporation (NYSE:CIM) by 5.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,580 shares of the real estate investment trust’s stock after purchasing an additional 341 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in Chimera Investment Corporation were worth $123,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 51.18% of the company’s stock.
CIM has been the topic of a number of recent analyst reports. BidaskClub upgraded shares of Chimera Investment Corporation from a “hold” rating to a “buy” rating in a report on Thursday, August 17th. Barclays PLC set a $18.00 price target on shares of Chimera Investment Corporation and gave the company a “hold” rating in a report on Tuesday, October 10th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $18.50 price target on shares of Chimera Investment Corporation in a report on Friday, October 6th. Deutsche Bank AG increased their price target on shares of Chimera Investment Corporation from $19.00 to $20.00 and gave the company a “hold” rating in a report on Thursday, August 3rd. Finally, Zacks Investment Research cut shares of Chimera Investment Corporation from a “hold” rating to a “sell” rating in a report on Friday, August 4th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. Chimera Investment Corporation has an average rating of “Hold” and a consensus target price of $18.83.
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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