Chimera Investment Co. Plans Quarterly Dividend of $0.11 (NYSE:CIM)

Chimera Investment Co. (NYSE:CIM) declared a quarterly dividend on Thursday, March 28th, RTT News reports. Stockholders of record on Monday, April 8th will be given a dividend of 0.11 per share by the real estate investment trust on Tuesday, April 30th. This represents a $0.44 annualized dividend and a dividend yield of 9.54%. The ex-dividend date of this dividend is Friday, April 5th.

Chimera Investment has decreased its dividend by an average of 20.6% per year over the last three years. Chimera Investment has a payout ratio of 69.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Chimera Investment to earn $0.57 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 77.2%.

Chimera Investment Stock Up 1.5 %

Shares of Chimera Investment stock traded up $0.07 on Thursday, hitting $4.61. 1,208,481 shares of the company’s stock traded hands, compared to its average volume of 1,999,911. The stock has a market cap of $1.11 billion, a P/E ratio of 20.00 and a beta of 1.68. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 3.00. The firm’s 50-day moving average is $4.58 and its 200 day moving average is $4.95. Chimera Investment has a 52-week low of $4.17 and a 52-week high of $6.49.

Hedge Funds Weigh In On Chimera Investment

Large investors have recently added to or reduced their stakes in the company. Raymond James & Associates increased its position in Chimera Investment by 28.6% in the first quarter. Raymond James & Associates now owns 54,112 shares of the real estate investment trust’s stock worth $652,000 after buying an additional 12,039 shares during the period. American Century Companies Inc. acquired a new stake in Chimera Investment in the first quarter worth $132,000. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Chimera Investment by 15.4% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 106,266 shares of the real estate investment trust’s stock valued at $1,279,000 after purchasing an additional 14,201 shares during the period. HighTower Advisors LLC increased its holdings in shares of Chimera Investment by 28.3% during the first quarter. HighTower Advisors LLC now owns 13,551 shares of the real estate investment trust’s stock valued at $163,000 after purchasing an additional 2,991 shares during the period. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Chimera Investment by 31.2% during the first quarter. PNC Financial Services Group Inc. now owns 13,203 shares of the real estate investment trust’s stock valued at $159,000 after purchasing an additional 3,139 shares during the period. 48.44% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, UBS Group assumed coverage on Chimera Investment in a research note on Wednesday, December 6th. They set a “neutral” rating and a $5.50 price objective on the stock.

Chimera Investment Company Profile

Chimera Investment Corporation operates as a real estate investment trust (REIT) in the United States. The company, through its subsidiaries, invests in a portfolio of mortgage assets, including residential mortgage loans, agency residential mortgage-backed securities, non-agency residential mortgage-backed securities, agency mortgage-backed securities secured by pools of commercial mortgage loans, business purpose and investor loans, and other real estate related securities.