Chimera Investment (NYSE:CIM) Announces Earnings Results

Chimera Investment (NYSE:CIM) posted its quarterly earnings data on Wednesday. The real estate investment trust reported $0.37 EPS for the quarter, beating the consensus estimate of $0.34 by $0.03, Zacks reports. The business had revenue of $186.72 million during the quarter, compared to analyst estimates of $66.50 million. Chimera Investment had a net margin of 25.73% and a return on equity of 7.46%. During the same quarter last year, the firm posted $0.36 earnings per share.

Chimera Investment Stock Down 0.5 %

Shares of CIM traded down $0.08 during midday trading on Friday, reaching $14.53. The stock had a trading volume of 538,002 shares, compared to its average volume of 651,685. The company has a market cap of $1.17 billion, a price-to-earnings ratio of 9.49 and a beta of 1.72. The company’s fifty day simple moving average is $13.59 and its two-hundred day simple moving average is $13.52. Chimera Investment has a 1-year low of $11.28 and a 1-year high of $18.78. The company has a debt-to-equity ratio of 3.70, a current ratio of 5.46 and a quick ratio of 5.46.

Chimera Investment Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 9.64%. The ex-dividend date was Friday, June 28th. This is a boost from Chimera Investment’s previous quarterly dividend of $0.33. Chimera Investment’s payout ratio is 91.50%.

Insider Buying and Selling

In other Chimera Investment news, Director Gerard Creagh bought 10,000 shares of the business’s stock in a transaction dated Monday, June 17th. The shares were acquired at an average price of $13.07 per share, with a total value of $130,700.00. Following the transaction, the director now owns 125,899 shares of the company’s stock, valued at $1,645,499.93. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.91% of the company’s stock.

Analyst Upgrades and Downgrades

CIM has been the subject of several research reports. Keefe, Bruyette & Woods boosted their price target on shares of Chimera Investment from $15.00 to $16.00 and gave the stock a “market perform” rating in a research note on Thursday. StockNews.com raised Chimera Investment from a “hold” rating to a “buy” rating in a research note on Wednesday.

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.