Chimera Investment Co. (NYSE:CIM) Sees Significant Drop in Short Interest

Chimera Investment Co. (NYSE:CIM) was the recipient of a large decrease in short interest during the month of September. As of September 30th, there was short interest totalling 1,980,000 shares, a decrease of 10.4% from the September 15th total of 2,210,000 shares. Currently, 2.5% of the shares of the company are sold short. Based on an average daily volume of 554,500 shares, the days-to-cover ratio is presently 3.6 days.

Chimera Investment Stock Performance

CIM traded up $0.13 during trading on Thursday, reaching $16.19. 789,379 shares of the company’s stock were exchanged, compared to its average volume of 615,284. The company has a market capitalization of $1.30 billion, a P/E ratio of 10.58 and a beta of 1.73. 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 business has a 50 day moving average price of $15.48 and a 200 day moving average price of $14.14. Chimera Investment has a fifty-two week low of $11.28 and a fifty-two week high of $16.89.

Chimera Investment (NYSE:CIM) last issued its earnings results 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 previous year, the business earned $0.36 EPS. As a group, analysts predict that Chimera Investment will post 1.5 earnings per share for the current fiscal year.

Chimera Investment Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be issued a $0.37 dividend. The ex-dividend date is Monday, September 30th. This is a boost from Chimera Investment’s previous quarterly dividend of $0.35. This represents a $1.48 dividend on an annualized basis and a dividend yield of 9.14%. Chimera Investment’s dividend payout ratio is presently 96.73%.

Hedge Funds Weigh In On Chimera Investment

Hedge funds and other institutional investors have recently modified their holdings of the stock. Quarry LP grew its position in Chimera Investment by 1,188.3% in the second quarter. Quarry LP now owns 2,203 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 2,032 shares during the period. Strategic Advisors LLC grew its holdings in shares of Chimera Investment by 14.2% in the 1st quarter. Strategic Advisors LLC now owns 20,155 shares of the real estate investment trust’s stock worth $93,000 after purchasing an additional 2,500 shares during the last quarter. ProShare Advisors LLC increased its position in shares of Chimera Investment by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 40,895 shares of the real estate investment trust’s stock worth $189,000 after purchasing an additional 3,218 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in Chimera Investment by 25.2% during the 1st quarter. International Assets Investment Management LLC now owns 31,070 shares of the real estate investment trust’s stock valued at $141,000 after purchasing an additional 6,250 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in Chimera Investment by 4.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 189,305 shares of the real estate investment trust’s stock valued at $873,000 after buying an additional 8,656 shares in the last quarter. Institutional investors own 48.44% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.