Chimera Investment Co. (NYSE:CIM) Raises Dividend to $0.37 Per Share

Chimera Investment Co. (NYSE:CIM) declared a quarterly dividend on Thursday, September 19th, Wall Street Journal reports. Stockholders of record on Monday, September 30th will be given 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 dividend yield of 8.89%. The ex-dividend date 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% annually over the last three years. Chimera Investment has a dividend payout ratio of 81.9% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect Chimera Investment to earn $1.61 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 87.0%.

Chimera Investment Trading Up 1.7 %

Shares of Chimera Investment stock opened at $16.65 on Friday. The company has a current ratio of 4.43, a quick ratio of 4.43 and a debt-to-equity ratio of 3.75. The stock has a fifty day simple moving average of $15.13 and a 200 day simple moving average of $13.86. Chimera Investment has a 12-month low of $11.28 and a 12-month high of $18.00. The company has a market capitalization of $1.34 billion, a P/E ratio of 10.88 and a beta of 1.73.

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

Analyst Ratings Changes

CIM has been the topic of several recent analyst reports. StockNews.com cut shares of Chimera Investment from a “buy” rating to a “hold” rating in a research report on Thursday, August 15th. Keefe, Bruyette & Woods lifted their price target on Chimera Investment from $15.00 to $16.00 and gave the stock a “market perform” rating in a report on Thursday, August 8th.

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.