Chimera Investment Co. (CIM) Declares $0.50 Quarterly Dividend
Chimera Investment Co. (NYSE:CIM) announced a quarterly dividend on Tuesday, February 13th, RTT News reports. Investors of record on Friday, March 30th will be given a dividend of 0.50 per share by the real estate investment trust on Monday, April 30th. This represents a $2.00 annualized dividend and a dividend yield of 11.83%. The ex-dividend date of this dividend is Thursday, March 29th.
Chimera Investment has raised its dividend payment by an average of 3.6% per year over the last three years and has increased its dividend annually for the last 3 consecutive years. Chimera Investment has a payout ratio of 85.8% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Research analysts expect Chimera Investment to earn $2.41 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 83.0%.
Shares of Chimera Investment (NYSE:CIM) opened at $16.91 on Wednesday. The company has a current ratio of 0.02, a quick ratio of 0.02 and a debt-to-equity ratio of 2.72. Chimera Investment has a 1-year low of $15.77 and a 1-year high of $20.90. The firm has a market capitalization of $3,152.84, a PE ratio of 5.18 and a beta of 0.60.
Several equities research analysts have weighed in on the company. ValuEngine downgraded Chimera Investment from a “strong-buy” rating to a “buy” rating in a report on Friday, February 2nd. Deutsche Bank upgraded Chimera Investment from a “hold” rating to a “buy” rating in a report on Wednesday, January 31st. Credit Suisse Group upgraded Chimera Investment from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $18.01 to $19.00 in a report on Thursday, January 25th. Finally, Zacks Investment Research downgraded Chimera Investment from a “hold” rating to a “sell” rating in a report on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. Chimera Investment currently has an average rating of “Hold” and an average price target of $18.88.
In related news, CIO Mohit Marria purchased 3,000 shares of the business’s stock in a transaction on Friday, December 29th. The shares were bought at an average price of $25.82 per share, for a total transaction of $77,460.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 0.65% of the stock is owned by corporate insiders.
A hedge fund recently raised its stake in Chimera Investment stock. The Manufacturers Life Insurance Company raised its holdings in shares of Chimera Investment Co. (NYSE:CIM) by 5.5% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,580 shares of the real estate investment trust’s stock after acquiring an additional 341 shares during the quarter. The Manufacturers Life Insurance Company ‘s holdings in Chimera Investment were worth $123,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 50.50% of the company’s stock.
About Chimera Investment
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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