Chimera Investment Co. (NYSE:CIM) Declares Quarterly Dividend of $0.37

Chimera Investment Co. (NYSE:CIM) declared a quarterly dividend on Friday, September 20th, Wall Street Journal reports. Investors of record on Monday, September 30th will be given a dividend of 0.37 per share by the real estate investment trust on Thursday, October 31st. This represents a $1.48 dividend on an annualized basis and a yield of 8.82%. The ex-dividend date of this dividend is Monday, September 30th. This is a boost from Chimera Investment’s previous quarterly dividend of $0.35.

Chimera Investment has increased its dividend by an average of 32.6% annually over the last three years. Chimera Investment has a dividend payout ratio of 81.9% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research analysts expect Chimera Investment to earn $1.61 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 87.0%.

Chimera Investment Price Performance

CIM traded up $0.41 on Friday, hitting $16.78. 927,184 shares of the company were exchanged, compared to its average volume of 618,841. The company has a debt-to-equity ratio of 3.75, a quick ratio of 4.43 and a current ratio of 4.43. The firm has a market capitalization of $1.35 billion, a P/E ratio of 10.94 and a beta of 1.73. Chimera Investment has a fifty-two week low of $11.28 and a fifty-two week high of $18.00. The business’s fifty day moving average is $15.09 and its 200 day moving average is $13.83.

Chimera Investment (NYSE:CIM) last announced its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.03. Chimera Investment had a net margin of 28.79% and a return on equity of 7.66%. The business had revenue of $186.72 million for the quarter, compared to analyst estimates of $66.50 million. During the same period in the prior year, the firm posted $0.36 EPS. As a group, sell-side analysts anticipate that Chimera Investment will post 1.5 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Keefe, Bruyette & Woods upped their price target on shares of Chimera Investment from $15.00 to $16.00 and gave the company a “market perform” rating in a report on Thursday, August 8th. StockNews.com cut shares of Chimera Investment from a “buy” rating to a “hold” rating in a report on Thursday, August 15th.

Chimera Investment Company Profile

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.