Renaissance Technologies LLC Acquires New Shares in Chimera Investment Corporation $CIM

Renaissance Technologies LLC bought a new position in Chimera Investment Corporation (NYSE:CIM) during the 1st quarter, HoldingsChannel.com reports. The fund bought 43,453 shares of the real estate investment trust’s stock, valued at approximately $545,000.

Several other institutional investors have also made changes to their positions in CIM. Arrowstreet Capital Limited Partnership bought a new stake in shares of Chimera Investment in the 1st quarter valued at approximately $1,736,000. First Trust Advisors LP lifted its stake in Chimera Investment by 82.0% in the first quarter. First Trust Advisors LP now owns 543,101 shares of the real estate investment trust’s stock valued at $6,816,000 after acquiring an additional 244,763 shares during the last quarter. Independent Financial Group LLC bought a new stake in Chimera Investment in the first quarter worth approximately $155,000. Bank of New York Mellon Corp grew its position in Chimera Investment by 6.1% in the first quarter. Bank of New York Mellon Corp now owns 407,398 shares of the real estate investment trust’s stock worth $5,113,000 after acquiring an additional 23,404 shares in the last quarter. Finally, Ritholtz Wealth Management increased its stake in shares of Chimera Investment by 2.9% during the 1st quarter. Ritholtz Wealth Management now owns 411,813 shares of the real estate investment trust’s stock worth $5,168,000 after purchasing an additional 11,439 shares during the last quarter. 48.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CIM has been the topic of a number of recent research reports. Wall Street Zen upgraded shares of Chimera Investment from a “sell” rating to a “hold” rating in a report on Sunday, June 28th. Weiss Ratings downgraded shares of Chimera Investment from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, August 3rd. Royal Bank Of Canada restated a “sector perform” rating and set a $14.00 target price on shares of Chimera Investment in a report on Wednesday, June 3rd. Finally, Keefe, Bruyette & Woods reduced their price target on Chimera Investment from $15.00 to $14.00 and set a “market perform” rating for the company in a research report on Thursday, August 6th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $14.50.

Chimera Investment Stock Down 0.3%

Shares of Chimera Investment stock opened at $11.76 on Tuesday. Chimera Investment Corporation has a 12-month low of $11.46 and a 12-month high of $14.88. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 2.34. The stock has a 50 day moving average price of $12.84 and a two-hundred day moving average price of $13.10. The stock has a market capitalization of $984.43 million, a P/E ratio of -11.53 and a beta of 1.67.

Chimera Investment (NYSE:CIM) last released its quarterly earnings results on Wednesday, August 5th. The real estate investment trust reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.08). Chimera Investment had a net margin of 0.14% and a return on equity of 9.82%. The firm had revenue of $94.77 million during the quarter, compared to the consensus estimate of $95.30 million.

Chimera Investment Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Tuesday, June 30th were paid a $0.45 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $1.80 dividend on an annualized basis and a yield of 15.3%. Chimera Investment’s dividend payout ratio (DPR) is presently -176.47%.

Chimera Investment Profile

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.