JPMorgan Chase & Co. increased its position in shares of Chimera Investment Corp. (NYSE:CIM) by 194.0% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 660,230 shares of the company’s stock after buying an additional 435,655 shares during the period. JPMorgan Chase & Co. owned about 0.35% of Chimera Investment Corp. worth $10,365,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of CIM. Artemis Investment Management LLP bought a new stake in shares of Chimera Investment Corp. during the second quarter worth $48,716,000. Renaissance Technologies LLC boosted its stake in shares of Chimera Investment Corp. by 552.8% in the first quarter. Renaissance Technologies LLC now owns 163,200 shares of the company’s stock worth $2,218,000 after buying an additional 138,200 shares in the last quarter. Commonwealth Equity Services Inc boosted its stake in shares of Chimera Investment Corp. by 20.7% in the first quarter. Commonwealth Equity Services Inc now owns 101,948 shares of the company’s stock worth $1,385,000 after buying an additional 17,470 shares in the last quarter. Fox Run Management L.L.C. bought a new stake in shares of Chimera Investment Corp. during the second quarter worth $195,000. Finally, Emerald Acquisition Ltd. bought a new stake in shares of Chimera Investment Corp. during the second quarter worth $1,973,000. Institutional investors and hedge funds own 53.61% of the company’s stock.
Shares of Chimera Investment Corp. (NYSE:CIM) traded up 0.47% during trading on Wednesday, reaching $15.02. The company had a trading volume of 836,022 shares. The firm has a market capitalization of $2.82 billion, a P/E ratio of 12.77 and a beta of 0.83. Chimera Investment Corp. has a 52-week low of $10.89 and a 52-week high of $16.98. The company has a 50 day moving average of $16.29 and a 200-day moving average of $15.41.
Chimera Investment Corp. (NYSE:CIM) last released its earnings results on Wednesday, August 3rd. The company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.53 by $0.02. Chimera Investment Corp. had a net margin of 26.83% and a return on equity of 13.50%. The company earned $137.87 million during the quarter, compared to analyst estimates of $134.42 million. During the same period in the previous year, the company posted $0.57 EPS. The company’s quarterly revenue was down 7.9% compared to the same quarter last year. Equities analysts expect that Chimera Investment Corp. will post $2.23 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 27th. Shareholders of record on Friday, September 30th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 12.84%. The ex-dividend date is Wednesday, September 28th. Chimera Investment Corp.’s payout ratio is 160.00%.
CIM has been the topic of a number of research analyst reports. Zacks Investment Research raised Chimera Investment Corp. from a “hold” rating to a “strong-buy” rating and set a $18.00 target price on the stock in a report on Thursday, July 14th. Barclays PLC lifted their target price on Chimera Investment Corp. from $14.00 to $15.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 10th. Credit Suisse Group AG reaffirmed a “hold” rating and set a $15.50 target price on shares of Chimera Investment Corp. in a report on Friday, September 9th. Keefe, Bruyette & Woods lifted their target price on Chimera Investment Corp. from $14.00 to $15.50 and gave the stock a “market perform” rating in a report on Tuesday, August 9th. Finally, Deutsche Bank AG lifted their target price on Chimera Investment Corp. from $14.50 to $17.50 and gave the stock a “hold” rating in a report on Tuesday, August 9th. One analyst has rated the stock with a sell rating, four have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $16.58.
In related news, COO Choudhary Yarlagadda bought 2,305 shares of the business’s stock in a transaction on Friday, September 9th. The shares were purchased at an average price of $16.10 per share, with a total value of $37,110.50. Following the completion of the purchase, the chief operating officer now owns 104,391 shares of the company’s stock, valued at approximately $1,680,695.10. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 0.62% of the stock is owned by company insiders.
Chimera Investment Corp. Company Profile
Chimera Investment Corporation is a real estate investment trust. The Company is primarily engaged in the business of investing, on a leveraged basis, in a diversified portfolio of mortgage assets, including Agency residential mortgage-backed securities (RMBS), Non-Agency RMBS, Agency commercial mortgage backed securities (CMBS), residential mortgage loans and real estate related securities.
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