IBM Retirement Fund decreased its position in shares of Chimera Investment Corp. (NYSE:CIM) by 0.8% during the second quarter, Holdings Channel reports. The firm owned 18,932 shares of the company’s stock after selling 150 shares during the period. IBM Retirement Fund’s holdings in Chimera Investment Corp. were worth $297,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of CIM. Goldman Sachs Group Inc. boosted its position in Chimera Investment Corp. by 5.3% in the first quarter. Goldman Sachs Group Inc. now owns 2,628,171 shares of the company’s stock worth $35,717,000 after buying an additional 132,046 shares during the period. Prudential Financial Inc. boosted its position in Chimera Investment Corp. by 564.6% in the first quarter. Prudential Financial Inc. now owns 2,021,201 shares of the company’s stock worth $27,469,000 after buying an additional 1,717,090 shares during the period. James Investment Research Inc. purchased a new position in Chimera Investment Corp. during the second quarter worth $13,726,000. TIAA CREF Investment Management LLC boosted its position in Chimera Investment Corp. by 4.0% in the first quarter. TIAA CREF Investment Management LLC now owns 632,057 shares of the company’s stock worth $8,590,000 after buying an additional 24,313 shares during the period. Finally, Punch & Associates Investment Management Inc. boosted its position in Chimera Investment Corp. by 1.5% in the second quarter. Punch & Associates Investment Management Inc. now owns 447,554 shares of the company’s stock worth $7,027,000 after buying an additional 6,579 shares during the period. Institutional investors and hedge funds own 53.61% of the company’s stock.
Chimera Investment Corp. (NYSE:CIM) traded down 1.18% during mid-day trading on Friday, reaching $15.95. 1,648,356 shares of the company were exchanged. Chimera Investment Corp. has a 1-year low of $10.89 and a 1-year high of $16.98. The stock has a market capitalization of $2.99 billion, a price-to-earnings ratio of 13.56 and a beta of 0.82. The stock’s 50-day moving average price is $16.35 and its 200-day moving average price is $15.36.
Chimera Investment Corp. (NYSE:CIM) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by $0.02. The firm earned $137.87 million during the quarter, compared to analysts’ expectations of $134.42 million. Chimera Investment Corp. had a net margin of 26.83% and a return on equity of 13.50%. The company’s revenue for the quarter was down 7.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.57 EPS. On average, equities research analysts anticipate that Chimera Investment Corp. will post $2.23 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 27th. Shareholders of record on Friday, September 30th will be issued a $0.48 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $1.92 dividend on an annualized basis and a yield of 12.04%. Chimera Investment Corp.’s payout ratio is currently 160.00%.
A number of research analysts have weighed in on CIM shares. Nomura reiterated a “buy” rating and set a $18.00 price objective (up previously from $17.00) on shares of Chimera Investment Corp. in a research report on Wednesday, August 10th. Deutsche Bank AG upped their price target on shares of Chimera Investment Corp. from $14.50 to $17.50 and gave the stock a “hold” rating in a report on Tuesday, August 9th. Keefe, Bruyette & Woods upped their price target on shares of Chimera Investment Corp. from $14.00 to $15.50 and gave the stock a “market perform” rating in a report on Tuesday, August 9th. Credit Suisse Group AG restated a “hold” rating and issued a $15.50 price target on shares of Chimera Investment Corp. in a report on Friday, September 9th. Finally, Zacks Investment Research upgraded shares of Chimera Investment Corp. from a “hold” rating to a “strong-buy” rating and set a $18.00 price target on the stock in a report on Thursday, July 14th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $16.58.
In related news, COO Choudhary Yarlagadda purchased 2,305 shares of Chimera Investment Corp. stock in a transaction dated Friday, September 9th. The shares were acquired at an average price of $16.10 per share, for a total transaction of $37,110.50. Following the acquisition, the chief operating officer now directly owns 104,391 shares in the company, valued at $1,680,695.10. The purchase was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.62% of the company’s stock.
About Chimera Investment Corp.
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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