Allianz Asset Management GmbH Raises Stock Position in Chimera Investment Corporation $CIM

Allianz Asset Management GmbH lifted its position in Chimera Investment Corporation (NYSE:CIM) by 21.7% in the third quarter, Holdings Channel reports. The firm owned 1,671,318 shares of the real estate investment trust’s stock after buying an additional 297,709 shares during the period. Allianz Asset Management GmbH’s holdings in Chimera Investment were worth $22,095,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Wolverine Asset Management LLC raised its position in Chimera Investment by 206.1% during the 2nd quarter. Wolverine Asset Management LLC now owns 761,822 shares of the real estate investment trust’s stock valued at $10,566,000 after purchasing an additional 512,909 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Chimera Investment in the second quarter valued at about $2,301,000. LSV Asset Management lifted its stake in Chimera Investment by 7.3% in the second quarter. LSV Asset Management now owns 1,523,435 shares of the real estate investment trust’s stock worth $21,130,000 after acquiring an additional 103,900 shares during the period. Norges Bank bought a new position in Chimera Investment during the 2nd quarter worth about $1,188,000. Finally, JPMorgan Chase & Co. grew its holdings in Chimera Investment by 42.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 246,471 shares of the real estate investment trust’s stock worth $3,419,000 after acquiring an additional 73,634 shares in the last quarter. 48.44% of the stock is currently owned by hedge funds and other institutional investors.

Chimera Investment Stock Performance

Shares of CIM stock opened at $12.38 on Friday. The business has a fifty day moving average of $12.81 and a 200 day moving average of $13.14. Chimera Investment Corporation has a 1 year low of $9.85 and a 1 year high of $15.29. The company has a debt-to-equity ratio of 4.75, a current ratio of 8.22 and a quick ratio of 8.22. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of -30.95 and a beta of 1.84.

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

Chimera Investment Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 12.0%. The ex-dividend date of this dividend was Wednesday, December 31st. Chimera Investment’s dividend payout ratio is presently -370.00%.

Wall Street Analyst Weigh In

CIM has been the subject of several recent research reports. Weiss Ratings restated a “sell (d)” rating on shares of Chimera Investment in a report on Monday, December 29th. Royal Bank Of Canada downgraded shares of Chimera Investment from an “outperform” rating to a “sector perform” rating and set a $13.00 price objective for the company. in a research note on Tuesday, December 9th. Wall Street Zen upgraded Chimera Investment from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Finally, UBS Group dropped their target price on Chimera Investment from $16.00 to $15.50 and set a “buy” rating on the stock in a research report on Tuesday, November 18th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Chimera Investment currently has a consensus rating of “Hold” and an average 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.