Chimera Investment Corporation (NYSE:CIM) to Issue $0.45 Quarterly Dividend

Chimera Investment Corporation (NYSE:CIM) declared a quarterly dividend on Thursday, June 11th. Investors of record on Tuesday, June 30th will be given a dividend of 0.45 per share by the real estate investment trust on Friday, July 31st. This represents a c) annualized dividend and a yield of 13.5%. The ex-dividend date is Tuesday, June 30th.

Chimera Investment has decreased its dividend payment by an average of 0.2%annually over the last three years and has raised its dividend every year for the last 1 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 decline.

Chimera Investment Trading Up 0.9%

NYSE CIM opened at $13.34 on Friday. The stock has a market capitalization of $1.12 billion, a P/E ratio of -16.67 and a beta of 1.68. Chimera Investment has a 52-week low of $11.67 and a 52-week high of $14.88. The firm has a 50-day moving average price of $13.35 and a 200 day moving average price of $13.11. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 2.31.

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

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on CIM shares. Weiss Ratings cut shares of Chimera Investment from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, May 20th. Royal Bank Of Canada reissued a “sector perform” rating and set a $14.00 price target on shares of Chimera Investment in a report on Wednesday, June 3rd. Finally, Wall Street Zen raised shares of Chimera Investment from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. One 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 MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $14.83.

Chimera Investment Company 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.