Wolverine Asset Management LLC Cuts Stock Position in Chimera Investment Corporation $CIM

Wolverine Asset Management LLC lessened its position in shares of Chimera Investment Corporation (NYSE:CIM) by 30.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 526,925 shares of the real estate investment trust’s stock after selling 234,897 shares during the quarter. Wolverine Asset Management LLC’s holdings in Chimera Investment were worth $6,966,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd lifted its holdings in shares of Chimera Investment by 36.1% during the first quarter. Dynamic Technology Lab Private Ltd now owns 16,568 shares of the real estate investment trust’s stock worth $213,000 after purchasing an additional 4,399 shares during the period. Empowered Funds LLC lifted its stake in Chimera Investment by 12.9% during the 1st quarter. Empowered Funds LLC now owns 21,322 shares of the real estate investment trust’s stock valued at $274,000 after acquiring an additional 2,430 shares during the period. Strs Ohio purchased a new stake in shares of Chimera Investment in the 1st quarter valued at $194,000. Voya Investment Management LLC boosted its holdings in shares of Chimera Investment by 9.7% in the 1st quarter. Voya Investment Management LLC now owns 36,786 shares of the real estate investment trust’s stock valued at $472,000 after acquiring an additional 3,250 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC acquired a new stake in shares of Chimera Investment in the second quarter worth $314,000. 48.44% of the stock is currently owned by institutional investors and hedge funds.

Chimera Investment Price Performance

NYSE:CIM opened at $13.18 on Friday. The company has a quick ratio of 8.22, a current ratio of 8.22 and a debt-to-equity ratio of 4.75. Chimera Investment Corporation has a 52 week low of $9.85 and a 52 week high of $15.37. The stock’s 50-day moving average price is $12.63 and its 200-day moving average price is $13.28. The stock has a market capitalization of $1.10 billion, a PE ratio of -32.96 and a beta of 1.83.

Chimera Investment (NYSE:CIM) last issued its quarterly earnings results on Thursday, November 6th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.09). Chimera Investment had a return on equity of 7.36% and a net margin of 4.27%.The business had revenue of $16.49 million for the quarter, compared to analysts’ expectations of $84.51 million. As a group, equities analysts expect that Chimera Investment Corporation will post 1.57 EPS for the current fiscal year.

Chimera Investment Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Wednesday, December 31st will be given a dividend of $0.37 per share. The ex-dividend date is Wednesday, December 31st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 11.2%. Chimera Investment’s dividend payout ratio (DPR) is -370.00%.

Analyst Upgrades and Downgrades

CIM has been the subject of a number of research reports. Wall Street Zen upgraded shares of Chimera Investment from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Weiss Ratings reissued a “sell (d)” rating on shares of Chimera Investment in a report on Monday, December 29th. Royal Bank Of Canada lowered Chimera Investment from an “outperform” rating to a “sector perform” rating and set a $13.00 target price on the stock. in a report on Tuesday, December 9th. Finally, UBS Group reduced their price target on Chimera Investment from $16.00 to $15.50 and set a “buy” rating for the company in a research report on Tuesday, November 18th. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $14.50.

Chimera Investment Company 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.