Chimera Investment (NYSE:CIM) Shares Gap Up Following Dividend Announcement

Chimera Investment Co. (NYSE:CIM)’s share price gapped up prior to trading on Friday after the company announced a dividend. The stock had previously closed at $11.93, but opened at $12.25. Chimera Investment shares last traded at $12.34, with a volume of 258,860 shares.

The newly announced dividend which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be given a dividend of $0.35 per share. This is a positive change from Chimera Investment’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 10.91%. Chimera Investment’s dividend payout ratio (DPR) is presently 86.27%.

Analyst Ratings Changes

Separately, StockNews.com upgraded Chimera Investment from a “hold” rating to a “buy” rating in a research report on Thursday, May 30th.

Chimera Investment Trading Up 7.5 %

The stock has a market cap of $1.03 billion, a PE ratio of 8.39 and a beta of 1.70. The stock has a 50-day moving average price of $12.99 and a two-hundred day moving average price of $13.84. The company has a debt-to-equity ratio of 3.70, a current ratio of 5.46 and a quick ratio of 5.46.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cetera Advisors LLC purchased a new stake in shares of Chimera Investment in the first quarter worth approximately $63,000. Bayesian Capital Management LP bought a new position in Chimera Investment in the 1st quarter valued at $116,000. Public Employees Retirement System of Ohio bought a new position in Chimera Investment in the 1st quarter valued at $72,000. Price T Rowe Associates Inc. MD grew its position in Chimera Investment by 4.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 189,305 shares of the real estate investment trust’s stock valued at $873,000 after acquiring an additional 8,656 shares during the last quarter. Finally, Advisors Asset Management Inc. grew its position in Chimera Investment by 7.2% in the 1st quarter. Advisors Asset Management Inc. now owns 2,123,440 shares of the real estate investment trust’s stock valued at $9,789,000 after acquiring an additional 142,621 shares during the last quarter. Hedge funds and other institutional investors own 48.44% of the company’s stock.

About Chimera Investment

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.