Chimera Investment Co. (CIM) To Go Ex-Dividend on September 30th

Chimera Investment Co. (NYSE:CIM) announced a quarterly dividend on Thursday, September 19th, Wall Street Journal reports. Investors of record on Monday, September 30th will be paid a dividend of 0.37 per share by the real estate investment trust on Thursday, October 31st. This represents a $1.48 dividend on an annualized basis and a yield of 9.14%. The ex-dividend date of this dividend is Monday, September 30th. This is a positive change from Chimera Investment’s previous quarterly dividend of $0.35.

Chimera Investment has raised its dividend by an average of 32.6% per year over the last three years. Chimera Investment has a payout ratio of 86.5% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Analysts expect Chimera Investment to earn $1.61 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 91.9%.

Chimera Investment Trading Up 0.6 %

Shares of CIM opened at $16.19 on Friday. The company has a market capitalization of $1.30 billion, a P/E ratio of 10.58 and a beta of 1.73. Chimera Investment has a 1-year low of $11.28 and a 1-year high of $16.89. The firm’s 50 day simple moving average is $15.23 and its 200 day simple moving average is $13.96. The company has a debt-to-equity ratio of 3.75, a current ratio of 4.43 and a quick ratio of 4.43.

Chimera Investment (NYSE:CIM) last posted its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported $0.37 EPS for the quarter, topping the consensus estimate of $0.34 by $0.03. The firm had revenue of $186.72 million for the quarter, compared to the consensus estimate of $66.50 million. Chimera Investment had a net margin of 28.79% and a return on equity of 7.66%. During the same period last year, the firm posted $0.36 earnings per share. Sell-side analysts forecast that Chimera Investment will post 1.5 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on CIM shares. StockNews.com downgraded shares of Chimera Investment from a “buy” rating to a “hold” rating in a research note on Thursday, August 15th. Keefe, Bruyette & Woods lifted their target price on shares of Chimera Investment from $15.00 to $16.00 and gave the stock a “market perform” rating in a research note on Thursday, August 8th.

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.