The Manufacturers Life Insurance Company Sells 76,181 Shares of Chimera Investment Co. (NYSE:CIM)

The Manufacturers Life Insurance Company trimmed its position in shares of Chimera Investment Co. (NYSE:CIM) by 65.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 40,862 shares of the real estate investment trust’s stock after selling 76,181 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.05% of Chimera Investment worth $523,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Symphony Financial Ltd. Co. bought a new stake in Chimera Investment during the first quarter worth about $63,000. Cetera Advisors LLC bought a new stake in Chimera Investment during the first quarter worth about $63,000. Public Employees Retirement System of Ohio bought a new stake in Chimera Investment during the first quarter worth about $72,000. Sound Income Strategies LLC bought a new stake in Chimera Investment during the first quarter worth about $79,000. Finally, EntryPoint Capital LLC grew its stake in Chimera Investment by 703.3% during the first quarter. EntryPoint Capital LLC now owns 19,208 shares of the real estate investment trust’s stock worth $89,000 after buying an additional 16,817 shares during the last quarter. 48.44% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Chimera Investment Price Performance

CIM opened at $15.48 on Wednesday. Chimera Investment Co. has a one year low of $11.28 and a one year high of $16.89. 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’s 50 day simple moving average is $15.42 and its 200-day simple moving average is $14.12. The stock has a market capitalization of $1.25 billion, a P/E ratio of 10.12 and a beta of 1.73.

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, beating 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 business posted $0.36 earnings per share. Sell-side analysts anticipate that Chimera Investment Co. will post 1.5 earnings per share for the current fiscal year.

Chimera Investment Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be issued a $0.37 dividend. This is a positive change from Chimera Investment’s previous quarterly dividend of $0.35. This represents a $1.48 annualized dividend and a yield of 9.56%. The ex-dividend date is Monday, September 30th. Chimera Investment’s dividend payout ratio is currently 96.73%.

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.