Chimera Investment Co. (CIM) to Issue Quarterly Dividend of $0.37 on October 31st

Chimera Investment Co. (NYSE:CIM) declared a quarterly dividend on Thursday, September 19th, Wall Street Journal reports. Stockholders of record on Monday, September 30th will be paid a dividend of 0.37 per share by the real estate investment trust on Thursday, October 31st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 8.89%. The ex-dividend date is Monday, September 30th. This is a positive change from Chimera Investment’s previous quarterly dividend of $0.35.

Chimera Investment has increased its dividend payment by an average of 32.6% per year over the last three years. Chimera Investment has a dividend payout ratio of 81.9% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Research analysts expect Chimera Investment to earn $1.61 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 87.0%.

Chimera Investment Trading Up 1.7 %

Shares of CIM stock opened at $16.65 on Friday. Chimera Investment has a fifty-two week low of $11.28 and a fifty-two week high of $18.00. The company has a debt-to-equity ratio of 3.75, a quick ratio of 4.43 and a current ratio of 4.43. The stock has a 50 day simple moving average of $15.13 and a two-hundred day simple moving average of $13.86. The company has a market cap of $1.34 billion, a P/E ratio of 10.88 and a beta of 1.73.

Chimera Investment (NYSE:CIM) last released its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.03. The company had revenue of $186.72 million during the quarter, compared to analyst estimates of $66.50 million. Chimera Investment had a net margin of 28.79% and a return on equity of 7.66%. During the same quarter in the previous year, the business posted $0.36 EPS. Research analysts forecast that Chimera Investment will post 1.5 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on CIM shares. StockNews.com cut shares of Chimera Investment from a “buy” rating to a “hold” rating in a research report on Thursday, August 15th. Keefe, Bruyette & Woods raised their price objective on Chimera Investment from $15.00 to $16.00 and gave the company a “market perform” rating in a research note on Thursday, August 8th.

Chimera Investment Company Profile

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.