Van ECK Associates Corp Trims Stock Holdings in Chimera Investment Corporation $CIM

Van ECK Associates Corp decreased its holdings in shares of Chimera Investment Corporation (NYSE:CIM) by 5.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 798,907 shares of the real estate investment trust’s stock after selling 45,803 shares during the quarter. Van ECK Associates Corp owned about 0.95% of Chimera Investment worth $10,657,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in CIM. Public Employees Retirement System of Ohio purchased a new position in shares of Chimera Investment in the second quarter valued at $60,000. IFP Advisors Inc lifted its holdings in Chimera Investment by 1,211.4% during the 4th quarter. IFP Advisors Inc now owns 6,216 shares of the real estate investment trust’s stock worth $77,000 after purchasing an additional 5,742 shares in the last quarter. Global Retirement Partners LLC bought a new position in Chimera Investment in the 2nd quarter worth about $79,000. Tower Research Capital LLC TRC grew its holdings in Chimera Investment by 92.1% during 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 buying an additional 3,423 shares in the last quarter. Finally, Kestra Advisory Services LLC purchased a new position in Chimera Investment during the 4th quarter valued at about $105,000. 48.44% of the stock is owned by institutional investors.

Chimera Investment Trading Down 0.8%

Shares of CIM opened at $11.37 on Wednesday. Chimera Investment Corporation has a 1-year low of $11.30 and a 1-year high of $14.88. The company has a market capitalization of $951.78 million, a P/E ratio of -11.15 and a beta of 1.66. The company has a debt-to-equity ratio of 2.34, a current ratio of 0.07 and a quick ratio of 0.07. The firm’s 50 day simple moving average is $12.45 and its 200 day simple moving average is $13.02.

Chimera Investment (NYSE:CIM) last issued its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.08). The company had revenue of $94.77 million during the quarter, compared to the consensus estimate of $95.30 million. Chimera Investment had a return on equity of 9.82% and a net margin of 0.14%.

Chimera Investment Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th were given a dividend of $0.45 per share. The ex-dividend date was Tuesday, June 30th. This represents a $1.80 dividend on an annualized basis and a yield of 15.8%. Chimera Investment’s dividend payout ratio (DPR) is presently -176.47%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on CIM shares. Wall Street Zen raised shares of Chimera Investment from a “sell” rating to a “hold” rating in a report on Sunday, June 28th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $14.00 price objective on shares of Chimera Investment in a research note on Wednesday, June 3rd. Keefe, Bruyette & Woods decreased their target price on shares of Chimera Investment from $15.00 to $14.00 and set a “market perform” rating on the stock in a report on Thursday, August 6th. Finally, Weiss Ratings upgraded shares of Chimera Investment from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, August 17th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $14.50.

Chimera Investment Profile

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.