Chimera Investment Co. (NYSE:CIM) Declares Quarterly Dividend of $0.11

Chimera Investment Co. (NYSE:CIM) declared a quarterly dividend on Thursday, March 28th, RTT News reports. Stockholders of record on Monday, April 8th will be paid a dividend of 0.11 per share by the real estate investment trust on Tuesday, April 30th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 9.54%. The ex-dividend date of this dividend is Friday, April 5th.

Chimera Investment has decreased its dividend by an average of 20.6% per year over the last three years. Chimera Investment has a dividend payout ratio of 69.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Chimera Investment to earn $0.57 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 77.2%.

Chimera Investment Trading Up 1.5 %

Shares of NYSE:CIM traded up $0.07 on Thursday, reaching $4.61. 1,208,481 shares of the company traded hands, compared to its average volume of 1,999,911. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 3.00. The stock has a market capitalization of $1.11 billion, a P/E ratio of 20.00 and a beta of 1.68. Chimera Investment has a 52 week low of $4.17 and a 52 week high of $6.49. The business’s 50-day simple moving average is $4.58 and its 200 day simple moving average is $4.95.

Institutional Trading of Chimera Investment

Several large investors have recently bought and sold shares of CIM. Balyasny Asset Management L.P. purchased a new position in shares of Chimera Investment during the fourth quarter valued at approximately $15,749,000. Bank of America Corp DE raised its stake in Chimera Investment by 1,302.0% during the 1st quarter. Bank of America Corp DE now owns 2,132,046 shares of the real estate investment trust’s stock valued at $12,025,000 after buying an additional 1,979,970 shares during the last quarter. Norges Bank purchased a new stake in Chimera Investment during the 4th quarter valued at $10,395,000. Goldman Sachs Group Inc. raised its stake in Chimera Investment by 113.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,668,559 shares of the real estate investment trust’s stock valued at $20,090,000 after buying an additional 885,442 shares during the last quarter. Finally, BlackRock Inc. raised its stake in Chimera Investment by 2.8% during the 2nd quarter. BlackRock Inc. now owns 20,117,947 shares of the real estate investment trust’s stock valued at $116,081,000 after buying an additional 547,920 shares during the last quarter. 48.44% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, UBS Group began coverage on Chimera Investment in a research note on Wednesday, December 6th. They issued a “neutral” rating and a $5.50 target price on the stock.

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.