Chimera Investment Co. (NYSE:CIM) Announces Dividend Increase – $0.37 Per Share

Chimera Investment Co. (NYSE:CIM) announced a quarterly dividend on Thursday, September 19th, Wall Street Journal reports. Investors of record on Monday, September 30th will be paid 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 9.14%. The ex-dividend date of this dividend is Monday, September 30th. This is a positive change from Chimera Investment’s previous quarterly dividend of $0.35.

Chimera Investment has raised its dividend payment by an average of 32.6% per year over the last three years. Chimera Investment has a payout ratio of 86.5% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities analysts expect Chimera Investment to earn $1.61 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 91.9%.

Chimera Investment Stock Up 0.6 %

Shares of Chimera Investment stock opened at $16.19 on Friday. Chimera Investment has a 1-year low of $11.28 and a 1-year high of $16.89. The business has a 50-day moving average of $15.23 and a 200-day moving average of $13.96. The company has a debt-to-equity ratio of 3.75, a current ratio of 4.43 and a quick ratio of 4.43. The company has a market capitalization of $1.30 billion, a PE ratio of 10.58 and a beta of 1.73.

Chimera Investment (NYSE:CIM) last issued its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.03. Chimera Investment had a return on equity of 7.66% and a net margin of 28.79%. The business had revenue of $186.72 million during the quarter, compared to the consensus estimate of $66.50 million. During the same period in the previous year, the business earned $0.36 EPS. As a group, equities analysts forecast that Chimera Investment will post 1.5 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CIM. Keefe, Bruyette & Woods increased their price objective 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 lowered 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.