Chimera Investment Co. (NYSE:CIM) Plans Quarterly Dividend of $0.37

Chimera Investment Co. (NYSE:CIM) announced a quarterly dividend on Thursday, March 20th, RTT News reports. Investors of record on Monday, March 31st will be given a dividend of 0.37 per share by the real estate investment trust on Wednesday, April 30th. This represents a $1.48 annualized dividend and a yield of 10.95%. The ex-dividend date is Monday, March 31st.

Chimera Investment has decreased its dividend by an average of 27.0% per year over the last three years. Chimera Investment has a payout ratio of 87.1% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall.

Chimera Investment Price Performance

CIM opened at $13.52 on Friday. The firm has a market cap of $1.09 billion, a price-to-earnings ratio of 12.51 and a beta of 1.76. Chimera Investment has a fifty-two week low of $11.29 and a fifty-two week high of $16.89. The company’s 50-day moving average price is $14.15 and its 200 day moving average price is $14.77. The company has a quick ratio of 3.03, a current ratio of 0.06 and a debt-to-equity ratio of 2.82.

Chimera Investment (NYSE:CIM) last released its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.10). Chimera Investment had a return on equity of 7.00% and a net margin of 20.28%. As a group, sell-side analysts expect that Chimera Investment will post 1.57 earnings per share for the current year.

Insider Activity

In other Chimera Investment news, Director Gerard Creagh acquired 12,500 shares of Chimera Investment stock in a transaction that occurred on Tuesday, March 11th. The stock was bought at an average cost of $13.31 per share, for a total transaction of $166,375.00. Following the acquisition, the director now owns 138,127 shares of the company’s stock, valued at $1,838,470.37. This represents a 9.95 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.91% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on CIM shares. JMP Securities reiterated a “market perform” rating on shares of Chimera Investment in a research report on Thursday, January 23rd. Royal Bank of Canada upgraded Chimera Investment to a “moderate buy” rating in a research report on Friday, March 14th. Finally, StockNews.com downgraded Chimera Investment from a “buy” rating to a “hold” rating in a research note on Thursday, February 13th.

About Chimera Investment

Chimera Investment Corporation operates as a real estate investment trust (REIT) in the United States. The company, through its subsidiaries, invests in a portfolio of mortgage assets, including residential mortgage loans, agency residential mortgage-backed securities, non-agency residential mortgage-backed securities, agency mortgage-backed securities secured by pools of commercial mortgage loans, business purpose and investor loans, and other real estate related securities.