Chimera Investment (NYSE:CIM) Announces Quarterly Earnings Results

Chimera Investment (NYSE:CIM) announced its earnings results on Wednesday. The real estate investment trust reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.03, Zacks reports. The company had revenue of $186.72 million during the quarter, compared to analyst estimates of $66.50 million. Chimera Investment had a return on equity of 7.46% and a net margin of 25.73%. During the same period last year, the company posted $0.36 earnings per share.

Chimera Investment Stock Down 0.5 %

Shares of NYSE CIM traded down $0.08 during mid-day trading on Friday, reaching $14.53. 538,002 shares of the company’s stock were exchanged, compared to its average volume of 651,685. The business has a fifty day simple moving average of $13.59 and a 200 day simple moving average of $13.51. Chimera Investment has a twelve month low of $11.28 and a twelve month high of $18.78. The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of 9.50 and a beta of 1.72. The company has a current ratio of 5.46, a quick ratio of 5.46 and a debt-to-equity ratio of 3.70.

Chimera Investment Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th were given a dividend of $0.35 per share. The ex-dividend date was Friday, June 28th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 9.64%. This is a positive change from Chimera Investment’s previous quarterly dividend of $0.33. Chimera Investment’s dividend payout ratio (DPR) is currently 91.50%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Keefe, Bruyette & Woods raised their target price on Chimera Investment from $15.00 to $16.00 and gave the stock a “market perform” rating in a report on Thursday. StockNews.com upgraded Chimera Investment from a “hold” rating to a “buy” rating in a report on Wednesday.

Insider Activity at Chimera Investment

In other news, Director Gerard Creagh bought 10,000 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The shares were acquired at an average price of $13.07 per share, with a total value of $130,700.00. Following the transaction, the director now owns 125,899 shares in the company, valued at $1,645,499.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.91% of the stock is owned by insiders.

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.