Alliancebernstein L.P. reduced its position in shares of Chimera Investment Corporation (NYSE:CIM) by 4.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 106,481 shares of the real estate investment trust’s stock after selling 4,590 shares during the period. Alliancebernstein L.P. owned approximately 0.06% of Chimera Investment Corporation worth $2,149,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Renaissance Technologies LLC bought a new stake in Chimera Investment Corporation during the fourth quarter worth approximately $11,120,000. Eagle Asset Management Inc. bought a new stake in Chimera Investment Corporation during the first quarter worth approximately $4,009,000. BNP Paribas Arbitrage SA raised its stake in Chimera Investment Corporation by 1,252.7% in the first quarter. BNP Paribas Arbitrage SA now owns 242,437 shares of the real estate investment trust’s stock worth $4,892,000 after buying an additional 224,514 shares during the last quarter. Quadrature Capital Ltd bought a new stake in Chimera Investment Corporation during the fourth quarter worth approximately $1,329,000. Finally, Copper Rock Capital Partners LLC raised its stake in Chimera Investment Corporation by 1.7% in the first quarter. Copper Rock Capital Partners LLC now owns 1,886,050 shares of the real estate investment trust’s stock worth $38,004,000 after buying an additional 31,869 shares during the last quarter. 55.66% of the stock is owned by institutional investors and hedge funds.
Shares of Chimera Investment Corporation (CIM) opened at 18.66 on Tuesday. Chimera Investment Corporation has a 12 month low of $14.70 and a 12 month high of $20.90. The stock has a market capitalization of $3.50 billion, a price-to-earnings ratio of 5.62 and a beta of 0.93. The stock’s 50 day moving average price is $18.75 and its 200 day moving average price is $18.76.
Chimera Investment Corporation (NYSE:CIM) last posted its quarterly earnings results on Monday, May 1st. The real estate investment trust reported $0.51 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by $0.07. Chimera Investment Corporation had a return on equity of 14.14% and a net margin of 64.18%. The business had revenue of $141.11 million during the quarter, compared to analysts’ expectations of $140.90 million. During the same quarter in the prior year, the firm earned $0.58 EPS. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. Analysts expect that Chimera Investment Corporation will post $2.37 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 28th. Stockholders of record on Friday, June 30th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 10.72%. The ex-dividend date of this dividend is Wednesday, June 28th. Chimera Investment Corporation’s dividend payout ratio is currently 60.24%.
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CIM has been the subject of a number of analyst reports. Barclays PLC set a $17.00 price target on Chimera Investment Corporation and gave the company a “hold” rating in a research report on Monday, May 8th. Zacks Investment Research raised Chimera Investment Corporation from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 4th. ValuEngine raised Chimera Investment Corporation from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 3rd. Finally, BidaskClub lowered Chimera Investment Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 30th. Seven equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $17.75.
Chimera Investment Corporation Company Profile
Chimera Investment Corporation is a real estate investment trust (REIT). The company is engaged in the business of investing in a portfolio of mortgage assets, including agency residential mortgage-backed security (RMBS), non-agency RMBS, agency commercial mortgage-backed securities (CMBS), residential mortgage loans and real estate related securities.
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