Summit Securities Group LLC Buys Shares of 7,900 Chimera Investment Co. (NYSE:CIM)

Summit Securities Group LLC purchased a new stake in Chimera Investment Co. (NYSE:CIM) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 7,900 shares of the real estate investment trust’s stock, valued at approximately $111,000.

Other hedge funds also recently modified their holdings of the company. Norges Bank bought a new position in Chimera Investment in the fourth quarter valued at about $3,827,000. Teacher Retirement System of Texas acquired a new stake in Chimera Investment during the 4th quarter worth approximately $2,004,000. JPMorgan Chase & Co. grew its holdings in Chimera Investment by 84.7% during the 4th quarter. JPMorgan Chase & Co. now owns 309,935 shares of the real estate investment trust’s stock worth $4,339,000 after acquiring an additional 142,105 shares during the last quarter. Barclays PLC raised its stake in shares of Chimera Investment by 301.6% during the third quarter. Barclays PLC now owns 183,295 shares of the real estate investment trust’s stock valued at $2,901,000 after acquiring an additional 137,655 shares during the last quarter. Finally, Van ECK Associates Corp lifted its holdings in shares of Chimera Investment by 18.9% during the fourth quarter. Van ECK Associates Corp now owns 767,568 shares of the real estate investment trust’s stock worth $10,746,000 after purchasing an additional 122,088 shares during the period. Institutional investors and hedge funds own 48.44% of the company’s stock.

Chimera Investment Stock Down 1.5 %

Shares of NYSE:CIM opened at $13.09 on Friday. The business’s 50-day moving average is $14.07 and its 200-day moving average is $14.69. Chimera Investment Co. has a 1 year low of $11.29 and a 1 year high of $16.89. The company has a market capitalization of $1.06 billion, a price-to-earnings ratio of 12.12 and a beta of 1.76. The company has a debt-to-equity ratio of 2.82, a current ratio of 0.06 and a quick ratio of 3.03.

Chimera Investment (NYSE:CIM) last posted its quarterly earnings results on Wednesday, February 12th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.10). Chimera Investment had a return on equity of 7.00% and a net margin of 20.28%. Equities research analysts predict that Chimera Investment Co. will post 1.57 earnings per share for the current year.

Chimera Investment Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 11.31%. The ex-dividend date of this dividend is Monday, March 31st. Chimera Investment’s dividend payout ratio (DPR) is currently 137.04%.

Insider Activity

In other news, Director Gerard Creagh purchased 12,500 shares of the business’s stock in a transaction on Tuesday, March 11th. The shares were acquired at an average price of $13.31 per share, for a total transaction of $166,375.00. Following the completion of the acquisition, the director now owns 138,127 shares in the company, valued at approximately $1,838,470.37. The trade was a 9.95 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.91% of the company’s stock.

Wall Street Analyst Weigh In

CIM has been the subject of several analyst reports. StockNews.com lowered Chimera Investment from a “buy” rating to a “hold” rating in a research report on Thursday, February 13th. Royal Bank of Canada raised Chimera Investment to a “moderate buy” rating in a research note on Friday, March 14th. Finally, JMP Securities restated a “market perform” rating on shares of Chimera Investment in a report on Thursday, January 23rd.

Chimera Investment 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.