Chimera Investment Co. (NYSE:CIM) to Issue $0.37 Quarterly Dividend

Chimera Investment Co. (NYSE:CIM) declared 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 11.31%. The ex-dividend date is Monday, March 31st.

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

Chimera Investment Trading Down 1.5 %

NYSE:CIM opened at $13.09 on Friday. Chimera Investment has a 1 year low of $11.29 and a 1 year high of $16.89. The company has a debt-to-equity ratio of 2.82, a quick ratio of 3.03 and a current ratio of 0.06. The stock has a fifty day moving average price of $14.07 and a two-hundred day moving average price of $14.70. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of 12.12 and a beta of 1.76.

Chimera Investment (NYSE:CIM) last released its quarterly earnings results on Wednesday, February 12th. The real estate investment trust reported $0.37 earnings per share 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 anticipate that Chimera Investment will post 1.57 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Insider Transactions at Chimera Investment

In related news, Director Gerard Creagh purchased 12,500 shares of Chimera Investment stock in a transaction that occurred on Tuesday, March 11th. The shares were purchased at an average cost of $13.31 per share, with a total value of $166,375.00. Following the transaction, the director now owns 138,127 shares of the company’s stock, valued at approximately $1,838,470.37. The trade was a 9.95 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.91% of the company’s stock.

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.