LSV Asset Management Decreases Holdings in Chimera Investment Corporation $CIM

LSV Asset Management reduced its stake in shares of Chimera Investment Corporation (NYSE:CIM) by 4.3% during the 3rd quarter, HoldingsChannel reports. The fund owned 1,457,669 shares of the real estate investment trust’s stock after selling 65,766 shares during the period. LSV Asset Management’s holdings in Chimera Investment were worth $19,270,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CIM. Sound Income Strategies LLC purchased a new position in shares of Chimera Investment in the 3rd quarter worth approximately $54,000. CWM LLC lifted its position in Chimera Investment by 508.4% in the second quarter. CWM LLC now owns 5,196 shares of the real estate investment trust’s stock worth $72,000 after buying an additional 4,342 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in Chimera Investment by 92.1% in the second quarter. Tower Research Capital LLC TRC now owns 7,140 shares of the real estate investment trust’s stock worth $99,000 after buying an additional 3,423 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in Chimera Investment by 59.2% during the second quarter. BNP Paribas Financial Markets now owns 7,686 shares of the real estate investment trust’s stock worth $107,000 after buying an additional 2,857 shares during the period. Finally, Vision Financial Markets LLC bought a new position in Chimera Investment during the second quarter valued at $140,000. 48.44% of the stock is currently owned by hedge funds and other institutional investors.

Chimera Investment Trading Up 5.8%

NYSE CIM opened at $14.04 on Friday. The stock has a market cap of $1.17 billion, a PE ratio of 8.02 and a beta of 1.84. Chimera Investment Corporation has a 12 month low of $9.85 and a 12 month high of $14.88. The company’s 50-day moving average price is $12.81 and its 200-day moving average price is $13.10. The company has a current ratio of 8.22, a quick ratio of 8.22 and a debt-to-equity ratio of 4.75.

Chimera Investment (NYSE:CIM) last released its quarterly earnings data on Wednesday, February 11th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.03. The company had revenue of $72.01 million during the quarter, compared to analysts’ expectations of $80.77 million. Chimera Investment had a net margin of 28.06% and a return on equity of 8.70%. Equities research analysts forecast that Chimera Investment Corporation will post 1.57 earnings per share for the current year.

Chimera Investment Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be issued a $0.45 dividend. The ex-dividend date is Tuesday, March 31st. This is a positive change from Chimera Investment’s previous quarterly dividend of $0.37. This represents a $1.80 dividend on an annualized basis and a dividend yield of 12.8%. Chimera Investment’s dividend payout ratio (DPR) is presently 102.86%.

Analyst Upgrades and Downgrades

CIM has been the subject of several analyst reports. UBS Group lowered their target price on shares of Chimera Investment from $16.00 to $15.50 and set a “buy” rating for the company in a report on Tuesday, November 18th. Wall Street Zen raised shares of Chimera Investment from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Royal Bank Of Canada downgraded shares of Chimera Investment from an “outperform” rating to a “sector perform” rating and set a $13.00 price objective for the company. in a research note on Tuesday, December 9th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Chimera Investment in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $14.50.

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.