Wolverine Asset Management LLC Sells 234,897 Shares of Chimera Investment Corporation $CIM

Wolverine Asset Management LLC reduced its position in shares of Chimera Investment Corporation (NYSE:CIM) by 30.8% in the third quarter, according to its most recent filing with the SEC. The fund owned 526,925 shares of the real estate investment trust’s stock after selling 234,897 shares during the quarter. Wolverine Asset Management LLC owned about 0.65% of Chimera Investment worth $6,966,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Sound Income Strategies LLC bought a new position in shares of Chimera Investment during the third quarter valued at approximately $54,000. CWM LLC boosted its holdings in Chimera Investment by 508.4% during the 2nd quarter. CWM LLC now owns 5,196 shares of the real estate investment trust’s stock valued at $72,000 after acquiring an additional 4,342 shares during the period. Tower Research Capital LLC TRC grew its position in Chimera Investment by 92.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,140 shares of the real estate investment trust’s stock valued at $99,000 after acquiring an additional 3,423 shares during the last quarter. BNP Paribas Financial Markets grew its position in Chimera Investment by 59.2% in the 2nd quarter. BNP Paribas Financial Markets now owns 7,686 shares of the real estate investment trust’s stock valued at $107,000 after acquiring an additional 2,857 shares during the last quarter. Finally, Vision Financial Markets LLC purchased a new stake in Chimera Investment in the second quarter worth $140,000. 48.44% of the stock is owned by hedge funds and other institutional investors.

Chimera Investment Trading Up 0.9%

NYSE CIM opened at $13.18 on Friday. Chimera Investment Corporation has a one year low of $9.85 and a one year high of $15.37. The company has a debt-to-equity ratio of 4.75, a quick ratio of 8.22 and a current ratio of 8.22. The company has a market capitalization of $1.10 billion, a price-to-earnings ratio of -32.96 and a beta of 1.83. The company’s 50-day simple moving average is $12.63 and its two-hundred day simple moving average is $13.28.

Chimera Investment (NYSE:CIM) last announced its quarterly earnings results on Thursday, November 6th. The real estate investment trust reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.09). The business had revenue of $16.49 million during the quarter, compared to analysts’ expectations of $84.51 million. Chimera Investment had a return on equity of 7.36% and a net margin of 4.27%. Equities analysts forecast that Chimera Investment Corporation will post 1.57 EPS for the current fiscal year.

Chimera Investment Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 11.2%. The ex-dividend date of this dividend is Wednesday, December 31st. Chimera Investment’s dividend payout ratio (DPR) is -370.00%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. UBS Group lowered their target price on shares of Chimera Investment from $16.00 to $15.50 and set a “buy” rating for the company in a research note on Tuesday, November 18th. Wall Street Zen raised shares of Chimera Investment from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Royal Bank Of Canada lowered shares of Chimera Investment from an “outperform” rating to a “sector perform” rating and set a $13.00 target price on the stock. in a research report on Tuesday, December 9th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Chimera Investment in a research note on Monday, December 29th. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Chimera Investment currently has an average rating of “Hold” and a consensus target price of $14.50.

About Chimera Investment

Chimera Investment Corporation (NYSE: CIM) is a publicly traded real estate investment trust that specializes in investing in residential mortgage assets. The company’s portfolio primarily consists of agency and non-agency residential mortgage-backed securities, whole loan residential mortgages and other mortgage-related assets. As a REIT, Chimera Investment aims to generate attractive risk-adjusted returns through its focus on high-quality collateral and disciplined risk management.

The firm’s core business activities include identifying and acquiring portfolios of residential mortgage loans and securities from financial institutions and in the secondary market.