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

Chimera Investment Co. (NYSE:CIM) declared a quarterly dividend on Thursday, September 19th, Wall Street Journal reports. Investors 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 annualized dividend and a yield of 9.14%. The ex-dividend date of this dividend is Monday, September 30th. This is a boost from Chimera Investment’s previous quarterly dividend of $0.35.

Chimera Investment has raised its dividend payment by an average of 32.6% per year over the last three years. Chimera Investment has a payout ratio of 86.5% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. 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 $1.48 annual dividend with an expected future payout ratio of 91.9%.

Chimera Investment Price Performance

Shares of CIM stock opened at $16.19 on Friday. Chimera Investment has a 12 month low of $11.28 and a 12 month high of $16.89. The company has a market capitalization of $1.30 billion, a P/E ratio of 10.58 and a beta of 1.73. The stock has a 50 day moving average of $15.23 and a two-hundred day moving average of $13.96. The company has a current ratio of 4.43, a quick ratio of 4.43 and a debt-to-equity ratio of 3.75.

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

Analyst Ratings Changes

CIM has been the topic of several recent research reports. 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 lifted their price objective on Chimera Investment from $15.00 to $16.00 and gave the company a “market perform” rating in a report 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.