Chimera Investment (NYSE:CIM) Downgraded to Hold at StockNews.com

StockNews.com cut shares of Chimera Investment (NYSE:CIM) from a buy rating to a hold rating in a research note issued to investors on Thursday.

Separately, Keefe, Bruyette & Woods reissued a market perform rating and issued a $15.00 target price on shares of Chimera Investment in a research report on Wednesday, July 10th.

Chimera Investment Stock Up 1.6 %

CIM stock opened at $14.94 on Thursday. The company has a market capitalization of $1.20 billion, a P/E ratio of 9.62 and a beta of 1.72. The firm has a 50 day simple moving average of $13.64 and a 200-day simple moving average of $13.56. 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 has a twelve month low of $11.28 and a twelve month high of $19.47.

Chimera Investment Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 9.37%. This is an increase from Chimera Investment’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Friday, June 28th. Chimera Investment’s payout ratio is 91.49%.

Insider Buying and Selling

In other Chimera Investment news, Director Gerard Creagh purchased 10,000 shares of Chimera Investment stock in a transaction dated Monday, June 17th. The shares were bought at an average cost of $13.07 per share, for a total transaction of $130,700.00. Following the transaction, the director now owns 125,899 shares in the company, valued at approximately $1,645,499.93. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.91% of the stock is currently owned by company insiders.

Institutional Trading of Chimera Investment

Institutional investors and hedge funds have recently made changes to their positions in the stock. Cape Investment Advisory Inc. bought a new position in Chimera Investment during the 4th quarter worth $27,000. Principal Securities Inc. bought a new position in shares of Chimera Investment during the fourth quarter worth about $28,000. Visionary Horizons LLC bought a new position in shares of Chimera Investment during the fourth quarter worth about $50,000. Genesee Capital Advisors LLC acquired a new stake in shares of Chimera Investment in the 4th quarter worth about $50,000. Finally, Oak Thistle LLC bought a new stake in Chimera Investment in the 4th quarter valued at about $56,000. 48.44% of the stock is currently owned by institutional investors and hedge funds.

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.