Chimera Investment Co. (NYSE:CIM) Raises Dividend to $0.37 Per Share

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 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 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 raised its dividend by an average of 32.6% per year 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 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

Shares of Chimera Investment stock traded up $0.41 on Friday, hitting $16.78. The company had a trading volume of 927,184 shares, compared to its average volume of 618,841. Chimera Investment has a 52 week low of $11.28 and a 52 week high of $18.00. The company has a market cap of $1.35 billion, a PE ratio of 10.94 and a beta of 1.73. The business has a 50-day simple moving average of $15.09 and a 200-day simple moving average of $13.83. The company has a debt-to-equity ratio of 3.75, a current ratio of 4.43 and a quick ratio of 4.43.

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

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CIM. 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 stock a “market perform” rating in a research note on Thursday, August 8th.

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.