Chimera Investment Corporation (CIM) to Issue Quarterly Dividend of $0.45 on July 31st

Chimera Investment Corporation (NYSE:CIM) announced a quarterly dividend on Thursday, June 11th. Stockholders of record on Tuesday, June 30th will be paid a dividend of 0.45 per share by the real estate investment trust on Friday, July 31st. This represents a c) dividend on an annualized basis and a dividend yield of 13.2%. The ex-dividend date is Tuesday, June 30th.

Chimera Investment has decreased its dividend by an average of 0.2%annually over the last three years and has raised its dividend annually for the last 1 consecutive years. Chimera Investment has a payout ratio of 94.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall.

Chimera Investment Price Performance

Chimera Investment stock opened at $13.66 on Friday. The company has a debt-to-equity ratio of 2.31, a quick ratio of 0.08 and a current ratio of 0.08. Chimera Investment has a 52 week low of $11.67 and a 52 week high of $14.88. The stock has a market capitalization of $1.14 billion, a P/E ratio of -17.08 and a beta of 1.68. The stock has a fifty day moving average of $13.41 and a 200-day moving average of $13.15.

Chimera Investment (NYSE:CIM) last posted its earnings results on Thursday, May 7th. The real estate investment trust reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. Chimera Investment had a net margin of 2.27% and a return on equity of 9.36%. The firm had revenue of $32.37 million for the quarter, compared to analysts’ expectations of $102.35 million.

Wall Street Analyst Weigh In

CIM has been the subject of several recent research reports. Weiss Ratings downgraded Chimera Investment from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, May 20th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $14.00 target price on shares of Chimera Investment in a research note on Wednesday, June 3rd. Finally, Wall Street Zen upgraded shares of Chimera Investment from a “sell” rating to a “hold” rating in a report on Sunday. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Chimera Investment presently has an average rating of “Hold” and an average price target of $14.83.

About Chimera Investment

Chimera Investment Corporation (NYSE: CIM) is a publicly traded real estate investment trust that specializes in investing in residential mortgage assets. The company’s portfolio primarily consists of agency and non-agency residential mortgage-backed securities, whole loan residential mortgages and other mortgage-related assets. As a REIT, Chimera Investment aims to generate attractive risk-adjusted returns through its focus on high-quality collateral and disciplined risk management.

The firm’s core business activities include identifying and acquiring portfolios of residential mortgage loans and securities from financial institutions and in the secondary market.