Chimera Investment Corporation (NYSE:CIM) Plans $0.45 Quarterly Dividend

Chimera Investment Corporation (NYSE:CIM) declared a quarterly dividend on Thursday, June 11th. Stockholders of record on Tuesday, June 30th will be given a dividend of 0.45 per share by the real estate investment trust on Friday, July 31st. This represents a c) annualized dividend and a dividend yield of 13.5%. The ex-dividend date is Tuesday, June 30th.

Chimera Investment has decreased its dividend payment by an average of 0.2%annually over the last three years and has increased its dividend annually for the last 1 consecutive years. Chimera Investment has a dividend payout ratio of 94.7% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall.

Chimera Investment Trading Up 0.9%

NYSE:CIM opened at $13.34 on Friday. Chimera Investment has a fifty-two week low of $11.67 and a fifty-two week high of $14.88. The company has a debt-to-equity ratio of 2.31, a current ratio of 0.08 and a quick ratio of 0.08. The stock has a market capitalization of $1.12 billion, a PE ratio of -16.67 and a beta of 1.68. The business’s 50-day simple moving average is $13.35 and its 200-day simple moving average is $13.11.

Chimera Investment (NYSE:CIM) last released its earnings results on Thursday, May 7th. The real estate investment trust reported $0.54 EPS for the quarter, beating the consensus estimate of $0.52 by $0.02. The firm had revenue of $32.37 million for the quarter, compared to analysts’ expectations of $102.35 million. Chimera Investment had a return on equity of 9.36% and a net margin of 2.27%.

Wall Street Analyst Weigh In

Several research firms have commented on CIM. Wall Street Zen upgraded Chimera Investment from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Weiss Ratings cut Chimera Investment from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, May 20th. Finally, Royal Bank Of Canada restated a “sector perform” rating and issued a $14.00 target price on shares of Chimera Investment in a research note on Wednesday, June 3rd. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $14.83.

Chimera Investment Company Profile

Chimera Investment Corporation (NYSE: CIM) is a publicly traded real estate investment trust that specializes in investing in residential mortgage assets. The company’s portfolio primarily consists of agency and non-agency residential mortgage-backed securities, whole loan residential mortgages and other mortgage-related assets. As a REIT, Chimera Investment aims to generate attractive risk-adjusted returns through its focus on high-quality collateral and disciplined risk management.

The firm’s core business activities include identifying and acquiring portfolios of residential mortgage loans and securities from financial institutions and in the secondary market.