Van ECK Associates Corp Cuts Stake in Chimera Investment Corporation $CIM

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

Other large investors have also recently made changes to their positions in the company. Public Employees Retirement System of Ohio bought a new stake in shares of Chimera Investment in the 2nd quarter worth approximately $60,000. IFP Advisors Inc grew its holdings in shares of 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 valued at $77,000 after purchasing an additional 5,742 shares during the last quarter. Global Retirement Partners LLC purchased a new position in Chimera Investment in the 2nd quarter worth $79,000. Tower Research Capital LLC TRC lifted its stake in Chimera Investment by 92.1% in the second quarter. Tower Research Capital LLC TRC now owns 7,140 shares of the real estate investment trust’s stock worth $99,000 after purchasing an additional 3,423 shares during the last quarter. Finally, Kestra Advisory Services LLC bought a new stake in Chimera Investment in the fourth quarter worth $105,000. 48.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Chimera Investment Trading Down 0.8%

NYSE:CIM opened at $11.37 on Wednesday. The firm 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 quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 2.34. The company has a fifty day moving average of $12.45 and a 200 day moving average of $13.02. Chimera Investment Corporation has a 52 week low of $11.30 and a 52 week high of $14.88.

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

Chimera Investment Announces Dividend

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

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.