Chimera Investment Corporation to Issue Quarterly Dividend of $0.45 (NYSE:CIM)

Chimera Investment Corporation (NYSE:CIM) declared a quarterly dividend on Thursday, September 17th. Stockholders of record on Wednesday, September 30th will be paid a dividend of 0.45 per share by the real estate investment trust on Friday, October 30th. This represents a c) annualized dividend and a dividend yield of 16.3%. The ex-dividend date of this dividend is Wednesday, September 30th.

Chimera Investment has decreased its dividend payment by an average of 0.2%per year over the last three years and has raised its dividend annually for the last 1 consecutive years. Chimera Investment has a dividend payout ratio of 94.7% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble.

Chimera Investment Stock Up 1.2%

NYSE CIM opened at $11.02 on Friday. The company has a debt-to-equity ratio of 2.34, a current ratio of 0.07 and a quick ratio of 0.07. Chimera Investment has a 1 year low of $10.84 and a 1 year high of $14.22. The stock has a market capitalization of $922.84 million, a PE ratio of -10.81 and a beta of 1.66. The business’s 50-day moving average is $11.98 and its 200 day moving average is $12.83.

Chimera Investment (NYSE:CIM) last announced 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). Chimera Investment had a return on equity of 9.82% and a net margin of 0.14%.The business had revenue of $94.77 million during the quarter, compared to analysts’ expectations of $95.30 million.

Wall Street Analysts Forecast Growth

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

About Chimera Investment

Chimera Investment Corporation is a real estate investment trust that invests in residential mortgage assets. The company’s portfolio has historically included residential mortgage-backed securities, residential mortgage loans and other mortgage-related investments, including both agency and non-agency assets.

Chimera seeks to generate income from the interest and cash flows associated with its investments. Its activities are primarily focused on the U.S. residential housing and mortgage markets, and the company may invest in assets with different levels of credit and prepayment risk.

Founded in 2007, Chimera is externally managed and has operated as a mortgage-focused REIT.