Van ECK Associates Corp Sells 826,839 Shares of Chimera Investment Co. (NYSE:CIM)

Van ECK Associates Corp trimmed its holdings in shares of Chimera Investment Co. (NYSE:CIM) by 54.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 684,573 shares of the real estate investment trust’s stock after selling 826,839 shares during the quarter. Van ECK Associates Corp owned 0.85% of Chimera Investment worth $8,763,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Cape Investment Advisory Inc. purchased a new stake in Chimera Investment in the 4th quarter valued at about $27,000. Principal Securities Inc. purchased a new stake in shares of Chimera Investment in the fourth quarter valued at approximately $28,000. Cetera Advisors LLC bought a new position in Chimera Investment in the first quarter worth approximately $63,000. Symphony Financial Ltd. Co. bought a new position in Chimera Investment in the first quarter worth approximately $63,000. Finally, AlphaCentric Advisors LLC purchased a new position in Chimera Investment during the 2nd quarter worth $179,000. 48.44% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Gerard Creagh purchased 10,000 shares of the business’s stock in a transaction on Monday, June 17th. The shares were acquired at an average cost of $13.07 per share, with a total value of $130,700.00. Following the completion of the acquisition, the director now owns 125,899 shares of the company’s stock, valued at $1,645,499.93. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.91% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

Chimera Investment Stock Down 0.1 %

Chimera Investment stock opened at $15.48 on Tuesday. The company has a quick ratio of 4.43, a current ratio of 4.43 and a debt-to-equity ratio of 3.75. The firm has a market cap of $1.25 billion, a P/E ratio of 10.12 and a beta of 1.72. The business has a fifty day moving average of $14.42 and a two-hundred day moving average of $13.60. Chimera Investment Co. has a twelve month low of $11.28 and a twelve month high of $18.78.

Chimera Investment (NYSE:CIM) last issued its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported $0.37 earnings per share for the quarter, topping 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 firm had revenue of $186.72 million during the quarter, compared to analysts’ expectations of $66.50 million. During the same period in the prior year, the business posted $0.36 EPS. On average, analysts forecast that Chimera Investment Co. will post 1.5 earnings per share for the current fiscal year.

Chimera Investment Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th were given a $0.35 dividend. The ex-dividend date was Friday, June 28th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 9.04%. This is an increase from Chimera Investment’s previous quarterly dividend of $0.33. Chimera Investment’s payout ratio is presently 91.49%.

Chimera Investment 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.