Chimera Investment (NYSE:CIM) Announces Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Chimera Investment (NYSE:CIM) posted its quarterly earnings results on Wednesday. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.01), Zacks reports. The company had revenue of $195.30 million for the quarter, compared to the consensus estimate of $69.90 million. Chimera Investment had a return on equity of 7.66% and a net margin of 28.79%. During the same quarter in the previous year, the business earned $0.39 earnings per share.

Chimera Investment Stock Performance

NYSE:CIM traded up $0.12 during trading hours on Friday, reaching $15.28. The company had a trading volume of 624,020 shares, compared to its average volume of 609,278. The firm’s 50 day moving average price is $15.59 and its 200-day moving average price is $14.44. The firm has a market cap of $1.23 billion, a price-to-earnings ratio of 8.99 and a beta of 1.73. The company has a current ratio of 4.43, a quick ratio of 4.43 and a debt-to-equity ratio of 3.75. Chimera Investment has a 52 week low of $11.28 and a 52 week high of $16.89.

Chimera Investment Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 30th were issued a $0.37 dividend. The ex-dividend date was Monday, September 30th. This represents a $1.48 annualized dividend and a yield of 9.69%. This is a boost from Chimera Investment’s previous quarterly dividend of $0.35. Chimera Investment’s dividend payout ratio (DPR) is currently 87.05%.

Analysts Set New Price Targets

CIM has been the topic of several recent analyst reports. StockNews.com cut shares of Chimera Investment from a “buy” rating to a “hold” rating in a report on Thursday, August 15th. Keefe, Bruyette & Woods raised their price objective on Chimera Investment from $15.00 to $16.00 and gave the company a “market perform” rating in a research report on Thursday, August 8th.

About Chimera Investment

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.