According to Zacks, “Chimera Investment Corporation is a publicly traded real estate investment trust, or REIT, that is primarily engaged in real estate finance. It invests, either directly or indirectly through its subsidiaries, in RMBS, residential mortgage loans, Agency CMBS, commercial mortgage loans, real estate-related securities and various other asset classes. The company has elected and is organized and has operated in a manner that enables it to be taxed as a REIT under the Internal Revenue Code. “
A number of other research firms have also recently issued reports on CIM. Royal Bank of Canada assumed coverage on CHIMERA INVT CO/SH NEW in a research note on Wednesday, October 2nd. They issued an outperform rating and a $21.00 target price for the company. Credit Suisse Group cut CHIMERA INVT CO/SH NEW from an outperform rating to a neutral rating and set a $19.50 target price for the company. in a research note on Wednesday, August 21st. They noted that the move was a valuation call. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. CHIMERA INVT CO/SH NEW has a consensus rating of Hold and a consensus price target of $20.38.
CHIMERA INVT CO/SH NEW (NYSE:CIM) last posted its earnings results on Wednesday, October 30th. The real estate investment trust reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.05). CHIMERA INVT CO/SH NEW had a net margin of 13.14% and a return on equity of 12.22%. The business had revenue of $141.59 million during the quarter, compared to analyst estimates of $142.50 million. During the same period in the previous year, the firm posted $0.60 earnings per share. As a group, equities research analysts forecast that CHIMERA INVT CO/SH NEW will post 2.1 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a $0.50 dividend. The ex-dividend date of this dividend is Monday, December 30th. This represents a $2.00 dividend on an annualized basis and a yield of 9.87%. CHIMERA INVT CO/SH NEW’s payout ratio is 85.47%.
A number of large investors have recently bought and sold shares of CIM. NFC Investments LLC acquired a new position in CHIMERA INVT CO/SH NEW during the second quarter valued at approximately $18,440,000. LSV Asset Management increased its stake in shares of CHIMERA INVT CO/SH NEW by 22.9% during the second quarter. LSV Asset Management now owns 3,704,310 shares of the real estate investment trust’s stock worth $69,900,000 after purchasing an additional 689,440 shares during the period. Nuveen Asset Management LLC increased its stake in shares of CHIMERA INVT CO/SH NEW by 100.0% during the second quarter. Nuveen Asset Management LLC now owns 812,488 shares of the real estate investment trust’s stock worth $15,331,000 after purchasing an additional 406,195 shares during the period. Capital Advisors Inc. OK increased its stake in shares of CHIMERA INVT CO/SH NEW by 316.9% during the second quarter. Capital Advisors Inc. OK now owns 485,464 shares of the real estate investment trust’s stock worth $9,161,000 after purchasing an additional 369,006 shares during the period. Finally, Great Lakes Advisors LLC bought a new position in shares of CHIMERA INVT CO/SH NEW during the third quarter worth approximately $4,721,000. 51.59% of the stock is owned by hedge funds and other institutional investors.
About CHIMERA INVT CO/SH NEW
Chimera Investment Corporation operates as a real estate investment trust in the United States. The company, through its subsidiaries, invests in a portfolio of mortgage assets, including residential mortgage loans, agency and non-agency residential mortgage-backed securities, agency mortgage-backed securities secured by pools of commercial mortgage loans, commercial mortgage loans, and other real estate related securities.
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