Chimera Investment Co. (NYSE:CIM) Sees Large Growth in Short Interest

Chimera Investment Co. (NYSE:CIMGet Rating) saw a large growth in short interest in December. As of December 30th, there was short interest totalling 10,890,000 shares, a growth of 7.3% from the December 15th total of 10,150,000 shares. Currently, 4.8% of the company’s stock are short sold. Based on an average daily volume of 2,430,000 shares, the short-interest ratio is presently 4.5 days.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp increased its position in Chimera Investment by 11.6% during the second quarter. Van ECK Associates Corp now owns 956,285 shares of the real estate investment trust’s stock worth $8,434,000 after buying an additional 99,742 shares during the period. Cardinal Point Wealth Management Partners LLC acquired a new position in Chimera Investment during the second quarter worth approximately $112,000. Aigen Investment Management LP acquired a new position in Chimera Investment during the second quarter worth approximately $114,000. Private Advisor Group LLC acquired a new position in Chimera Investment during the third quarter worth approximately $73,000. Finally, Xponance Inc. increased its position in Chimera Investment by 15.3% during the second quarter. Xponance Inc. now owns 12,935 shares of the real estate investment trust’s stock worth $114,000 after buying an additional 1,718 shares during the period. Institutional investors and hedge funds own 47.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CIM shares. Royal Bank of Canada reduced their price target on Chimera Investment from $11.00 to $7.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 5th. TheStreet lowered Chimera Investment from a “c-” rating to a “d+” rating in a research report on Monday, October 10th. StockNews.com started coverage on Chimera Investment in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. Finally, Credit Suisse Group reduced their price target on Chimera Investment to $7.50 in a research report on Thursday, October 13th.

Chimera Investment Price Performance

Shares of NYSE CIM opened at $6.80 on Monday. The company has a debt-to-equity ratio of 3.87, a quick ratio of 3.24 and a current ratio of 3.24. Chimera Investment has a fifty-two week low of $4.91 and a fifty-two week high of $14.63. The firm has a market capitalization of $1.58 billion, a PE ratio of -2.40 and a beta of 1.37. The stock’s 50-day simple moving average is $6.42 and its 200-day simple moving average is $7.30.

Chimera Investment (NYSE:CIMGet Rating) last issued its earnings results on Thursday, November 3rd. The real estate investment trust reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.02. Chimera Investment had a positive return on equity of 13.06% and a negative net margin of 73.42%. During the same quarter last year, the firm posted $0.42 EPS. As a group, equities research analysts forecast that Chimera Investment will post 1.22 EPS for the current fiscal year.

Chimera Investment Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 31st. Shareholders of record on Friday, December 30th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 13.53%. The ex-dividend date is Thursday, December 29th. Chimera Investment’s dividend payout ratio (DPR) is -32.51%.

About Chimera Investment

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Chimera Investment Corp. operates as a real estate investment trust. engaged in the business of investing in a portfolio of mortgage assets, including residential mortgage loans, Agency RMBS, Non-Agency RMBS, Agency CMBS, and other real estate-related assets The firm’s objective is to provide risk-adjusted returns to its investors over the long-term, primarily through dividends and secondarily through capital appreciation.

Further Reading

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