Emerald Acquisition Ltd. Acquires Shares of 125,677 Chimera Investment Corp. (CIM)
Emerald Acquisition Ltd. bought a new stake in shares of Chimera Investment Corp. (NYSE:CIM) during the second quarter, Holdings Channel reports. The institutional investor bought 125,677 shares of the company’s stock, valued at approximately $1,973,000. Emerald Acquisition Ltd. owned 0.07% of Chimera Investment Corp. at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Nisa Investment Advisors LLC acquired a new position in Chimera Investment Corp. during the second quarter valued at $159,000. Prudential PLC acquired a new position in Chimera Investment Corp. during the first quarter valued at $160,000. Fox Run Management L.L.C. acquired a new position in Chimera Investment Corp. during the second quarter valued at $195,000. OMERS ADMINISTRATION Corp acquired a new position in Chimera Investment Corp. during the first quarter valued at $255,000. Finally, Raymond James Trust N.A. increased its position in Chimera Investment Corp. by 2.6% in the second quarter. Raymond James Trust N.A. now owns 18,011 shares of the company’s stock valued at $283,000 after buying an additional 453 shares during the period. Hedge funds and other institutional investors own 53.61% of the company’s stock.
Shares of Chimera Investment Corp. (NYSE:CIM) traded down 1.18% during midday trading on Friday, hitting $15.95. 1,648,356 shares of the stock were exchanged. The stock’s 50-day moving average price is $16.35 and its 200 day moving average price is $15.36. Chimera Investment Corp. has a one year low of $10.89 and a one year high of $16.98. The stock has a market cap of $2.99 billion, a P/E ratio of 13.56 and a beta of 0.82.
Chimera Investment Corp. (NYSE:CIM) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.53 by $0.02. The firm had revenue of $137.87 million for the quarter, compared to the consensus estimate of $134.42 million. Chimera Investment Corp. had a return on equity of 13.50% and a net margin of 26.83%. The firm’s revenue was down 7.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.57 EPS. On average, analysts anticipate that Chimera Investment Corp. will post $2.23 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 27th. Stockholders of record on Friday, September 30th will be given a dividend of $0.48 per share. The ex-dividend date is Wednesday, September 28th. This represents a $1.92 annualized dividend and a dividend yield of 12.04%. Chimera Investment Corp.’s dividend payout ratio is currently 160.00%.
Several research firms have weighed in on CIM. Barclays PLC raised their target price on shares of Chimera Investment Corp. from $14.00 to $15.00 and gave the company an “equal weight” rating in a report on Wednesday, August 10th. Zacks Investment Research upgraded shares of Chimera Investment Corp. from a “hold” rating to a “strong-buy” rating and set a $18.00 target price for the company in a report on Thursday, July 14th. Credit Suisse Group AG restated a “hold” rating and set a $15.50 target price on shares of Chimera Investment Corp. in a report on Friday, September 9th. Keefe, Bruyette & Woods raised their target price on shares of Chimera Investment Corp. from $14.00 to $15.50 and gave the company a “market perform” rating in a report on Tuesday, August 9th. Finally, Nomura restated a “buy” rating and set a $17.00 target price on shares of Chimera Investment Corp. in a report on Tuesday, July 5th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $16.58.
In related news, COO Choudhary Yarlagadda acquired 2,305 shares of Chimera Investment Corp. stock in a transaction that occurred on Friday, September 9th. The stock was acquired at an average price of $16.10 per share, with a total value of $37,110.50. Following the completion of the acquisition, the chief operating officer now directly owns 104,391 shares of the company’s stock, valued at approximately $1,680,695.10. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.62% of the company’s stock.
Chimera Investment Corp. Company Profile
Chimera Investment Corporation is a real estate investment trust. The Company is primarily engaged in the business of investing, on a leveraged basis, in a diversified portfolio of mortgage assets, including Agency residential mortgage-backed securities (RMBS), Non-Agency RMBS, Agency commercial mortgage backed securities (CMBS), residential mortgage loans and real estate related securities.
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