Bank of New York Mellon Corp decreased its stake in Chimera Investment Corporation (NYSE:CIM) by 22.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 801,288 shares of the real estate investment trust’s stock after selling 225,866 shares during the period. Bank of New York Mellon Corp’s holdings in Chimera Investment Corporation were worth $16,170,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CIM. Russell Investments Group Ltd. bought a new position in shares of Chimera Investment Corporation during the fourth quarter valued at $5,266,000. State Board of Administration of Florida Retirement System raised its position in shares of Chimera Investment Corporation by 5.6% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 353,658 shares of the real estate investment trust’s stock valued at $6,019,000 after buying an additional 18,620 shares during the period. State Street Corp raised its position in shares of Chimera Investment Corporation by 0.9% in the fourth quarter. State Street Corp now owns 2,804,574 shares of the real estate investment trust’s stock valued at $47,731,000 after buying an additional 24,932 shares during the period. Raymond James Financial Services Advisors Inc. raised its position in shares of Chimera Investment Corporation by 0.4% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 65,669 shares of the real estate investment trust’s stock valued at $1,118,000 after buying an additional 255 shares during the period. Finally, FMR LLC raised its position in shares of Chimera Investment Corporation by 53.7% in the fourth quarter. FMR LLC now owns 919,405 shares of the real estate investment trust’s stock valued at $15,648,000 after buying an additional 321,400 shares during the period. 55.68% of the stock is owned by institutional investors.

Institutional Ownership by Quarter for Chimera Investment Corporation (NYSE:CIM)

Shares of Chimera Investment Corporation (NYSE:CIM) opened at 19.58 on Tuesday. The firm has a market cap of $3.68 billion, a PE ratio of 5.90 and a beta of 0.83. The stock’s 50 day moving average is $18.67 and its 200 day moving average is $18.67. Chimera Investment Corporation has a 12 month low of $14.70 and a 12 month high of $20.90.

Chimera Investment Corporation (NYSE:CIM) last issued its earnings results on Monday, May 1st. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.58 by $0.07. Chimera Investment Corporation had a return on equity of 14.14% and a net margin of 64.18%. The firm had revenue of $141.11 million for the quarter, compared to analysts’ expectations of $140.90 million. During the same quarter in the previous year, the firm posted $0.58 EPS. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, analysts anticipate that Chimera Investment Corporation will post $2.37 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 28th. Stockholders of record on Friday, June 30th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 10.21%. The ex-dividend date of this dividend is Wednesday, June 28th. Chimera Investment Corporation’s payout ratio is currently 60.24%.

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Several research analysts have weighed in on CIM shares. Zacks Investment Research raised shares of Chimera Investment Corporation from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a research note on Tuesday, April 18th. Barclays PLC set a $17.00 price target on shares of Chimera Investment Corporation and gave the stock a “hold” rating in a research report on Monday, May 8th. ValuEngine raised shares of Chimera Investment Corporation from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 3rd. Finally, BidaskClub raised shares of Chimera Investment Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, June 15th. Six equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $17.75.

Chimera Investment Corporation Company Profile

Chimera Investment Corporation is a real estate investment trust (REIT). The company is engaged in the business of investing in a portfolio of mortgage assets, including agency residential mortgage-backed security (RMBS), non-agency RMBS, agency commercial mortgage-backed securities (CMBS), residential mortgage loans and real estate related securities.

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