Chimera Investment Co. (NYSE:CIM) Sees Significant Growth in Short Interest

Chimera Investment Co. (NYSE:CIM) was the target of a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 1,970,000 shares, an increase of 7.1% from the October 15th total of 1,840,000 shares. Approximately 2.5% of the shares of the company are short sold. Based on an average trading volume of 506,900 shares, the short-interest ratio is presently 3.9 days.

Chimera Investment Price Performance

Chimera Investment stock traded down $0.05 during mid-day trading on Tuesday, reaching $14.71. 142,945 shares of the company were exchanged, compared to its average volume of 603,411. The company has a debt-to-equity ratio of 3.93, a current ratio of 3.03 and a quick ratio of 3.03. The firm has a market cap of $1.19 billion, a PE ratio of 4.45 and a beta of 1.73. The company has a fifty day simple moving average of $15.52 and a 200-day simple moving average of $14.56. Chimera Investment has a 12 month low of $11.28 and a 12 month high of $16.89.

Chimera Investment (NYSE:CIM) last announced its earnings results on Wednesday, November 6th. The real estate investment trust reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). The firm had revenue of $195.30 million for the quarter, compared to the consensus estimate of $69.90 million. Chimera Investment had a return on equity of 7.69% and a net margin of 46.48%. During the same period in the prior year, the business earned $0.39 EPS. As a group, equities research analysts expect that Chimera Investment will post 1.5 earnings per share for the current fiscal year.

Chimera Investment Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were issued a dividend of $0.37 per share. This is an increase from Chimera Investment’s previous quarterly dividend of $0.35. This represents a $1.48 dividend on an annualized basis and a dividend yield of 10.06%. The ex-dividend date was Monday, September 30th. Chimera Investment’s payout ratio is currently 44.85%.

Hedge Funds Weigh In On Chimera Investment

Several hedge funds and other institutional investors have recently modified their holdings of CIM. Cetera Advisors LLC purchased a new stake in Chimera Investment during the first quarter valued at approximately $63,000. Harbour Investments Inc. bought a new stake in shares of Chimera Investment during the second quarter worth $796,000. Arkadios Wealth Advisors lifted its holdings in shares of Chimera Investment by 121.7% in the 2nd quarter. Arkadios Wealth Advisors now owns 30,028 shares of the real estate investment trust’s stock worth $384,000 after buying an additional 16,482 shares during the period. Quarry LP boosted its position in Chimera Investment by 1,188.3% during the 2nd quarter. Quarry LP now owns 2,203 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 2,032 shares in the last quarter. Finally, Marshall Wace LLP acquired a new position in Chimera Investment during the 2nd quarter valued at about $217,000. 48.44% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on CIM shares. Keefe, Bruyette & Woods upped their target price on Chimera Investment from $15.00 to $16.00 and gave the company a “market perform” rating in a report on Thursday, August 8th. StockNews.com lowered shares of Chimera Investment from a “buy” rating to a “hold” rating in a research report on Thursday, August 15th.

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.