Chimera Investment (NYSE:CIM) Issues Earnings Results

Chimera Investment (NYSE:CIM) released its quarterly earnings results on Wednesday. The real estate investment trust reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.01), Zacks reports. The firm had revenue of $195.30 million for the quarter, compared to the consensus estimate of $69.90 million. Chimera Investment had a net margin of 28.79% and a return on equity of 7.66%. During the same period in the previous year, the company earned $0.39 earnings per share.

Chimera Investment Price Performance

Shares of CIM traded up $0.12 during trading hours on Friday, reaching $15.28. 624,020 shares of the stock traded hands, compared to its average volume of 609,278. The company has a market cap of $1.23 billion, a P/E ratio of 8.99 and a beta of 1.73. The company has a current ratio of 4.43, a quick ratio of 4.43 and a debt-to-equity ratio of 3.75. The company’s 50-day moving average price is $15.59 and its two-hundred day moving average price is $14.44. Chimera Investment has a 52-week low of $11.28 and a 52-week high of $16.89.

Chimera Investment Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were paid a $0.37 dividend. The ex-dividend date of this dividend was Monday, September 30th. This is a boost from Chimera Investment’s previous quarterly dividend of $0.35. This represents a $1.48 dividend on an annualized basis and a dividend yield of 9.69%. Chimera Investment’s dividend payout ratio is 87.05%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CIM. StockNews.com lowered shares of Chimera Investment from a “buy” rating to a “hold” rating in a research report on Thursday, August 15th. Keefe, Bruyette & Woods upped their price objective on Chimera Investment from $15.00 to $16.00 and gave the stock a “market perform” rating in a research note on Thursday, August 8th.

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.