Algert Global LLC Lowers Stock Position in Chimera Investment Co. (NYSE:CIM)

Algert Global LLC decreased its holdings in shares of Chimera Investment Co. (NYSE:CIM) by 28.6% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 115,920 shares of the real estate investment trust’s stock after selling 46,545 shares during the period. Algert Global LLC’s holdings in Chimera Investment were worth $1,484,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Cetera Advisors LLC purchased a new position in Chimera Investment in the first quarter worth $63,000. Harbour Investments Inc. purchased a new position in shares of Chimera Investment in the 2nd quarter valued at about $796,000. Arkadios Wealth Advisors lifted its stake in shares of Chimera Investment by 121.7% in the second quarter. Arkadios Wealth Advisors now owns 30,028 shares of the real estate investment trust’s stock valued at $384,000 after purchasing an additional 16,482 shares during the period. AlphaCentric Advisors LLC purchased a new stake in Chimera Investment during the second quarter worth about $179,000. Finally, Van ECK Associates Corp grew its position in Chimera Investment by 8.6% during the first quarter. Van ECK Associates Corp now owns 1,511,412 shares of the real estate investment trust’s stock worth $6,968,000 after buying an additional 119,648 shares during the period. 48.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CIM has been the subject of a number of research reports. StockNews.com downgraded shares of Chimera Investment from a “buy” rating to a “hold” rating in a research report on Thursday, August 15th. Keefe, Bruyette & Woods lifted their price objective on Chimera Investment from $15.00 to $16.00 and gave the stock a “market perform” rating in a report on Thursday, August 8th.

Chimera Investment Stock Performance

NYSE:CIM opened at $15.43 on Friday. Chimera Investment Co. has a twelve month low of $11.28 and a twelve month high of $16.89. The company has a market capitalization of $1.24 billion, a P/E ratio of 10.01 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 firm has a 50-day moving average price of $15.27 and a two-hundred day moving average price of $14.00.

Chimera Investment (NYSE:CIM) last issued its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.03. The business had revenue of $186.72 million during the quarter, compared to analysts’ expectations of $66.50 million. Chimera Investment had a net margin of 28.79% and a return on equity of 7.66%. During the same period last year, the company posted $0.36 EPS. As a group, research analysts expect that Chimera Investment Co. will post 1.5 earnings per share for the current fiscal year.

Chimera Investment Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 9.59%. This is a positive change from Chimera Investment’s previous quarterly dividend of $0.35. Chimera Investment’s dividend payout ratio (DPR) is presently 96.73%.

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.